Air Transat parent Transat A.T. reported net income of C$30.5 million ($28.3 million) for its fiscal third quarter ended July 31, reversed from a net loss of C$895,000 in the year-ago period, on a 4.7% decline in revenue to C$819.4 million. The primary driver of the improved result was a C$44.4 million noncash fuel hedge gain in the period compared to a C$4.7 million hedging loss in the 2008 quarter. The Montreal-based company said that "the tourism market is proving to be relatively ...

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