June 12, 2008 / 11:13 AM / 10 years ago

Transat AT profit drops, sees summer fuel pain

TORONTO, June 12 (Reuters) - Transat AT TRZb.TO reported a 32 percent fall in second-quarter profit on Thursday, as the holiday travel firm was hurt by another write-down related to ABCP holdings, and said it expects higher revenue and “significantly” lower margins for the summer due to fuel prices.

The parent company of Air Transat earned C$40.7 million, or C$1.21 a share in the period ended April 30, down from a profit of C$53.8 million, or C$1.57 a share in the same period a year earlier. ($1=$1.02 Canadian) (Reporting by Jonathan Spicer)

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