Company Watch - Air Transat.

Sep 10, 2007

Air Transat said a pair of non-cash, non-operational items helped boost its net income during the quarter. Transat said new accounting standards related to hedge accounting handed it a non-monetary gain of CAD$3.9 million, or CAD$2.6 million after tax, during the quarter. The company also said a favorable impact of foreign exchange on its debt helped boost its profit. Sep 7, 2007

Air Transat's parent Transat A.T. nearly quadrupled its third-quarter profit as it benefited from new accounting standards, favorable foreign exchange and more travelers. The company said it had a profit of CAD$16.7 million (USD$15.7 million) for the period ended July 31, compared with a profit of CAD$4.2 million in the same period last year. Revenue during the quarter rose 21.4 percent to CAD$741.8 million due to a combination of acquisitions made in 2006, expanded business activity, especially in France, and a 23.7 percent increase in travelers. Sep 7, 2007

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