Transat A.T. Inc. (TRZ) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

discuss our financial results in detail. We will then take questions from financial analysts. Questions from journalists will be taken offline after the call. The conference call will be conducted in English, but questions may be asked in French or English. Now Francois may refer to it when he presents the results. Our comments and discussion today may include forward-looking information regarding Transat's outlook, objectives, and strategies that are based on assumptions and subject to risk and our contentee. Forward-looking statements represent Transat's expectations as of December 18, 2025, and are therefore subject to change after that date. Our actual results may differ materially from significantly improved its operating and financial results during the past year, while strengthening the foundation of its long-term profitable growth strategy. Revenues rose 3.5% to $3.4 billion, reflecting a disciplined approach to capacity management in a volatile economic environment. Adjusted EBITDA supported by efficient cost management and initial benefits from our elevation optimization program, improved 33% year-over-year to an all-time record of $271 million. Beyond this solid performance, we established in 2025 key building blocks to generate growth momentum through the deployment of new high-potential routes the rigorous execution of elevation, and the refinancing of our government debt that was significantly reduced. In short, we fully achieve our 2025 objectives and we are on track to continue performing according to plan in 2026. As you know, we reached a tentative agreement with our pilot's union last week. This agreement marks an important step in the negotiation process lifting the risk of a strike and allowing our customers to travel with peace of mind during th...