Transat A.T. Inc. (the parent of Air Transat) (Montreal) posted revenues of $788.6 million for the quarter ended January 31, 2015, compared with $847.2 million in 2014, a decrease of $58.6 million, or 6.9%. The Corporation recorded an adjusted operating loss1 of $35.8 million, compared with $23.9 million in 2014; and a net loss attributable to shareholders of $64.3 million ($1.66 per share on a diluted basis), compared with $25.6 million ($0.67 per share on a diluted basis) in 2014. Before non-operating items, Transat reported an adjusted net loss3 of $32.4 million in 2015 ($0.84 per share), compared with $23.3 million ($0.60 per share) in 2014.

All amounts are in Canadian dollars.

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Notes:

The following are non-IFRS financial measures used by management as indicators to evaluate ongoing and recurring operational performance.

(1)
Adjusted operating income (loss): Operating income (operating loss) before depreciation and amortization expense, restructuring charge and other significant unusual items.
(2)
Adjusted pre-tax income (loss): Income (loss) before income tax expense, change in fair value of derivative financial instruments used for aircraft fuel purchases, gain on disposal of a subsidiary, restructuring charge, impairment of goodwill and other significant unusual items.
(3)
Adjusted net income (loss): Net income (loss) attributable to shareholders change in fair value of derivative financial instruments used for aircraft fuel purchases, gain on disposal of a subsidiary, restructuring charge, impairment of goodwill and other significant unusual items, net of related taxes.

Copyright Photo: Chris Sands/AirlinersGallery.com. Air Transat’s Airbus A330-243 C-GITS (msn 271) is pictured in action at Calgary International Airport (YYC).

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