| Lynx Air has announced the addition of Montreal to its network starting June 5, and they’ve got a promo code that can get you up to 50% off flights to and from Montreal.
Canada’s new ultra-affordable airline will operate services from Montreal – Trudeau
International Airport (YUL) to both Calgary International Airport (YYC) and St. John’s
International Airport (YYT). Frequencies range from two to four services a week,
depending on the market.
Tickets went on sale yesterday, and Lynx is launching a limited-time seat sale with up to 50% off all base fares to and from Montreal. The sale will run until 11:59 PM EDT on March 10, 2023, and is accessible with promo code: MONTREAL. Fares are truly ultra-affordable, starting from $59* one way, including taxes and fees. For complete details, and to book an ultra-affordable fare, visit FlyLynx.com.
 Lynx Air flight attendants. Photo courtesy Lynx Air. “We are delighted to be adding the vibrant city of Montreal to the Lynx Air network
in the lead up to summer. While Montreal is a very popular destination, it is currently
under-served by low-cost carriers, and Lynx aims to change that.” said Merren
McArthur, CEO of Lynx.
“We are pleased to offer an ultra-affordable option to connect Montreal and Quebec to the rest of Canada. Whether you are traveling to wander the cobblestone streets of Vieux-Montreal; to explore the iconic Notre-Dame Basilica; or to visit your loved ones, Lynx will ensure a great flying experience at an ultra-affordable price.”
The addition of Montreal takes the total number of North American destinations served by Lynx to fifteen.
AIR TRANSAT ALMOST PROFITABLE
Air Transat is “on the upswing” and nearing profitability after three years of dealing with the COVID-19 pandemic.
Transat A.T. today reported a loss of $38.1 million for the first quarter of 2023, but revenues were more than three times what they were a year ago.
“The momentum from the end of 2022 continues, confirming our financial scenarios,” said Annick Guérard, President and Chief Executive Officer of Transat. “Transat is on an upswing and is headed for a return to profitability. In the first quarter of 2023, revenues more than tripled compared with the corresponding quarter in 2022.
“Across all programs, combining European and South destinations, Transat deployed capacity comparable to that of 2019; load factors were slightly lower, but the shortfall was largely offset by higher prices. In addition, airline unit revenues, expressed in yield, increased by more than 20% compared with the first quarter of 2019. As a result, we recorded an adjusted operating income of $3.3 million for the period, an improvement of $39.7 million compared with the first quarter of 2022.
“These results are especially encouraging since the first quarter, which falls in the shoulder period, is usually the lowest of the year,” Guérard said.
“Transat maintains the adjusted operating income margin target of 4% to 6% for the year. Resilient demand for travel is supporting prices and helps us deal with the pressure on operating costs. The context is therefore challenging but remains favourable to recovery in travel and Transat’s relaunch,” she added.
During the first quarter, Transat deployed capacity equivalent to that of 2019 and recorded a satisfactory load factor of 84.5%. The Corporation acted prudently and rigorously to seize market opportunities, while minimizing operational risks. This balanced approach to capacity deployed served Transat and its travellers well.
The airline said it successfully coped with numerous disruptions and delays caused by inclement weather and operational difficulties at several airports across North America between late December 2022 and early January 2023. Transat was thus able to record strong business volume, while maintaining its reputation for excellent customer service.
 Air Transat plane. Photo Courtesy Air Transat. First-quarter highlights
For the first quarter, the Corporation generated $667.5 million in revenues, up $465.0 million from $202.4 million for the corresponding period of 2022. In 2022, the Corporation had to cancel nearly 30% of flights scheduled as a result of the sharp decline in demand and massive booking cancellations following the emergence of the Omicron variant.
Transat recorded an operating loss of $38.1 million, an improvement of $35.7 million compared with the $73.8 million loss in 2022. Driven by sustained demand, this improvement was nonetheless dampened by a 46% surge in fuel prices.
Adjusted operating income1 amounted to $3.3 million, an improvement of $39.7 million, compared with a loss of $36.4 million in 2022.
Net loss amounted to $56.6 million, or $1.49 per share (diluted), compared with $114.3 million, or $3.03 per share (diluted), for the corresponding quarter of last year.
Excluding non-operating items, Transat reported an adjusted net loss1 of $61.6 million ($1.62 per share) for the first quarter of 2023, compared with $95.3 million ($2.53 per share) in 2022.
As of January 31, 2023, customer deposits for future travel stood at $898.3 million, up 11% from pre-pandemic levels (as at January 31, 2020), reflecting the recovery in demand and higher average selling prices.
Outlook
To date, for the second quarter of 2023, although load factors are 3 percentage points lower than in 2019, airline unit revenues, expressed in yield, are significantly higher and show a more than 25% increase. The combination of demand and higher prices will allow the Corporation to cope with higher costs. While it is too early to have a complete picture for the summer, the winter trends seem to be continuing into summer 2023.
For the full fiscal year 2023, Transat expects to deploy capacity equivalent to 90% of the 2019 level.
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