08:47 AM EDT, 03/13/2025 (MT Newswires) -- Transat A.T ( TRZBF ). (TRZ.TO), a leisure travel company, on Thursday reported a smaller first-quarter adjusted net loss as revenue beat forecasts, driven by reduced fuel costs and a tight control on operating expenses.

The company reported an adjusted loss of $75 million, or $1.90 per share, compared with an adjusted net loss of $76 million, or $1.97 per share, a year earlier. Consensus estimate compiled by FactSet for adjusted loss per share was $2.04, whereas National Bank's forecast was $1.62 loss per share.

Revenue for the quarter rose 5.6% to $829.5 million, beating consensus estimate compiled by FactSet of $813.7 million and National Bank forecast of $809 million.

On key indicators, Transat said to date, for Q2 of 2025, load factors are 2 percentage points lower than on the same date in fiscal 2024, while airline unit revenues, expressed in revenue per passenger mile, are 2% higher than in the corresponding period last year.

"While it is too early to have a complete picture for the summer, the winter trends seem to be continuing into summer 2025," the company said in a statement.

For fiscal year 2025, the company expects to increase available capacity by 2% compared with 2024, with potential adjustments depending on the evolving situation with Pratt & Whitney GTF2 engine issues.

TRZ closed down 0.6% to $1.670 on Wednesday on the TSX.