"We're pretty much confident about the fact that the Canadian airline sector continues to benefit from pent-up demand," Guérard told investors on a conference call to discuss the company's latest financial results.
To meet the sustained demand, Transat plans to expand capacity by nearly a quarter next year, increasing its fleet to about 40 planes. The push comes as other Canadian carriers also ramp up capacity, particularly on sun-bound routes, setting the stage for heightened competition. As a result, Transat raised its margin target on adjusted earnings for 2023 to between 7.5 and eight per cent from a previous outlook of 5.5 to seven per cent, its second guidance bump this year.
"In Canada — to quote a former CEO of Swoop — Canadians are hooked to package vacations like a drug."
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