The fast-paced airline recovery continues in Canada, with a strong financial report today from Transat A.T. Inc. “For the second quarter of 2023, Transat reported a solid performance, with an adjusted operating income of $56.1 million, nearly 40% higher than in the same quarter of 2019,” said officials from the company, which runs Montreal-based Air Transat. “At mid-year, and based on current booking trends, we are raising the target for the adjusted operating income margin from the initially set range of 4% to 6% to a target of 5.5% to 7% for the fiscal year.” “Several factors contributed to the Read more
travel rebound
Montreal-based Air Transat said it posted its first profitable month in two years this summer, and that it expects to match pre-pandemic traffic levels this coming winter. Transat A.T. today (September 8) released its third quarter financial results. The airline and travel company posted revenues of $4508.3 million and reported an adjusted operating loss of $57.8 million. “The recovery emerging at the end of the last quarter has been confirmed in recent months. With our prudent planning and our teams’ exceptionally high quality execution, we were able to deploy virtually all of our programs, with continuously improving load factors,” said Read more
The travel rebound is surging to levels even experts didn’t expect. Global luxury travel network Virtuoso gathered data and insights from its network of travel advisors, preferred partners and high net worth/ultra-high net worth clientele based on its data warehouse of more than $49.5 billion in transactions and an ongoing series of surveys. The company found that, despite the challenges, travel sales in 2023 are pacing 47 percent higher than 2019. Virtuoso also reports strong interest in summer visits to the United States, Italy, France, Canada, and Greece. The results of the Virtuoso report were shared at luxury travel’s leading Read more
Expedia Group bookings for the second quarter of this year were the highest in history, and travellers around the world are taking more long-haul flights to traditional, top destinations. Expedia Group’s second quarter report for 2022 revealed a 40% increase in stayed room nights and a nine per cent increase in stayed average rates. That means significantly more travel despite higher rates, a sure sign of the pent-up demand for travel around the world. The study revealed that the global demand for long-haul flights (more than four hours) soared by more than 50% during the second quarter, compared to last Read more
Toronto is once again marketing itself in the U.S. as a great travel destination. The city has done okay with domestic travel, but U.S. visitors are key to Toronto’s tourism, as foreign visitors tend to stay longer and spend more than domestic visitors. The campaign is called “You Gotta See What We See,” and uses “enthusiastic, passionate Torontonians with stories we believe will resonate with our US audiences specifically.” Sounds like a smart plan to me. Many would-be travellers love to check out Tik Tok and Instagram pages before they book a trip, so why not use those influencers? Geographically, Read more
