Company Watch - Air Transat.Sep 10, 2007 Air Transat Air Transat A.T. Inc. is an airline based in Montreal, Quebec, Canada, operating scheduled and charter flights and serving 90 destinations in 25 countries. The airline is owned and operated by Transat A.T. 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 Why is hedge accounting necessary? Many financial institutions and corporate businesses (entities) use derivative financial instruments to hedge their exposure to different risks (eg interest rate risk, foreign exchange risk, commodity risk, etc). 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 fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. 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 USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $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 Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new real-time service that keeps travelers informed on flight and airport status, delays, security wait times via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Pyramid pyramid, structure pyramid. The true pyramid exists only in Egypt, though the term has also been applied to similar structures in other countries. Egyptian pyramids are square in plan and their triangular sides, which directly face the points of the Media Group / Air Travel Media. All rights reserved. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion