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Transat A.T. Inc. - Transat forecasts third-quarter results showing significant improvement over las

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21-Aug-2017 Transat A.T. Inc. - Transat forecasts third-quarter results showing significant improvement over last year's

Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada's holiday travel leader, has revised its outlook and is preparing to announce results for the third quarter of 2017, ended July 31, that are substantially better than those factored in its most recent outlook, which was published along with its second-quarter results this past June 8.

Third-quarter revenues on both the transatlantic market - the Corporation's primary market in the summer months - and the Sun destinations market were superior to those posted last year, especially since mid-June.

In addition, the Corporation's airline costs were lower than expected, a trend reinforced by the combined impact of positive fluctuations in fuel prices and currency exchange rates.

Subject to finalization of its financial statements, the Corporation now expects that its third-quarter adjusted net income will be significantly higher than that recorded last year, and similar to that of 2015, when it posted adjusted net income from continuing operations for the period of $26.9 million.

The outlook provided above is a preliminary outlook, subject to preparation of Transat's accounts for the third quarter. The Corporation expects to issue an updated outlook for the fourth quarter along with its quarterly results announcement on September 7, and will issue no further comment or update until then. Please refer to the caution regarding forward-looking statements, below.