Tibet Airlines Airbus A319-115 WL B-6451 (msn 5855) TSN (Michael B. Ing). Transat AT Inc.'s shareholders today approved the sale of the company to Air Canada for $5 per share. Image: 947004. Try again later. MONTREAL, Dec. 15, 2020 /CNW Telbec/ - Transat A.T. Inc. ("Transat") is pleased to announce that, at the special meeting of its shareholders (the "Shareholders") held today (the … Before you travel, it’s important that you check the entry requirements of your destination country. The amended terms and conditions also include a new requirement to maintain certain minimum levels of unrestricted cash as well as restrictions on the capacity to contract additional loans. S7 Airlines (Siberia Airlines) Airbus A321-271N WL VQ-BGU (msn 8620) AYT (Andi Hiltl). Transat reported an adjusted operating loss1 of $90.7 million compared with adjusted operating income1 of $97.5 million in 2019, a deterioration of $188.3 million. Following the adoption of the IFRS 16 accounting standard, leases with terms of more than 12 months are now recorded as right-of-use under assets and as lease liabilities under liabilities. Air Transat in the last few days further revised planned operation for summer 2020 season, as the airline completed schedule and aircraft update. Travel restrictions, uncertainty about when borders will reopen, both in Canada and at certain destinations the Corporation flies to, the imposition of quarantine measures both in Canada and other countries, as well as concerns related to the pandemic and its economic impacts are creating significant demand uncertainty, at least for fiscal 2021. By continuing to use this site, you agree to the cookies used, for example, to improve your browsing experience and to personalize the content of the Website. Transaction with Air Canada submitted to shareholders and regulatory authorities ( Log Out /  Iraqi Airways Airbus A330-202 YI-AQY (msn 1339) AYT (Arnd Wolf). To help you plan your trip, we’ve also assembled a practical guide full of travel tips and vital information on destination entry requirements. read MONTREAL - Nearly two dozen Transat A.T. … In order to protect its cash position and allow recovery after the restrictions have been lifted, the Corporation granted its customers a fully transferable travel credit valid without expiry date for flights and packages cancelled due to the exceptional situation and, in particular, to the travel restrictions imposed by governments. ( Log Out /  Air Canada making more cuts across Atlantic Canada – Dec 8, 2020 Transat had been preparing for an uncertain future, taking steps this year to preserve cash amid a huge decline in … The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. Image: 944466. 1 The average fleet age is based on our own calculations and … In response to the first wave of the pandemic, the Corporation temporarily suspended its airline operations from April 1 to July 22, 2020. TTY for hearing impaired: It has also assembled a new comprehensive practical guide full of tips to help travelers prepare for their trips and travel with peace of mind. As a result of the above factors, the Corporation experienced a significant deterioration in its performance for the year ended October 31, 2020. According to a press release seen by Simple Flying, a new arrangement agreement was signed on October 9th, 2020 at a price of $5.00 per share or 0.2862 Air Canada share for each Air … Closing of the transaction with Air Canada is subject to customary closing conditions, including regulatory approvals, particularly those of authorities in Canada and the European Union. Azur Air Boeing 777-31H ER VQ-BZD (msn 32713) AYT (Andi Hiltl). Lufthansa is considering to retire it’s entire Airbus A380 and Boeing 747-400 fleet. The Governor in Council does not have a deadline for issuing a decision and there can be no assurance that the transaction with Air Canada will be approved before the outside date. It is now possible to book your Air Transat flight in USD! Learn how your comment data is processed. So that you can book with confidence, we’re offering more flexibility to change or cancel your flight or package. Image: 944176. Transat Tours Canada Inc., doing business as Transat, is a licence holder in Quebec Reg #754241, Ontario Reg #50009485 / 50009486 and British Columbia Reg #2454, with offices at 300 Léo-Pariseau, … Our flight schedule may change, depending on changes in travel restrictions and demand. Net loss attributable to shareholders amounted to $496.5 million or $13.15 per share, compared with $32.3 million or $0.86 per share for the previous year. This offer allows passengers to change their travel dates or destination—or both—at no … This context could impact the obtaining of approvals from regulatory authorities, especially regarding the appropriate package of remedies aimed at obtaining those approvals. An error has occurred; the feed is probably down. Image: 948356. As of November 21, all travellers flying to Canada must submit their COVID-related information digitally via the ArriveCAN app or website before their departure to Canada. United Airlines Boeing 737-824 SSWL N36272 (msn 31590) (Star Wars – The Rise of Skywalker) SNA (Michael B. Ing). On May 25, 2020, the European Commission decided to open an in-depth (“Phase II”) investigation to assess the transaction with Air Canada with regards to European Union antitrust regulations. Image: 951037. Aero Continente (Chile) Boeing 767-2Q8 ER CC-CJR (msn 24448) MIA (Bruce Drum). Does the thought of going on vacation fill you with joy? Transat provides a simple and safe travel experience at every step. Air Canada shares issuable under the option of payment in shares will be issued on the basis of a price of $17.47 per Air Canada share, translating into an exchange ratio of 0.2862 Air Canada share per Transat share. Image: 948358. SalamAir Airbus A320-251N F-WWDM (A40-OVI) (msn 9197) TLS (Paul Bannwarth). The transaction will be subject to shareholder approval, including approval by at least two thirds of votes cast by the shareholders present in person or represented by proxy at the special meeting of shareholders to be held on December 15, 2020 to approve the transaction. For more details, visit Canada.ca/ArriveCAN. Image: 100980. Click here for our frequently asked questions about COVID-19. 1-866-234-5136 Then why not enter our online contests for a chance to win trips, roundtrip flights and cruise packages to the South, Europe, the United States and Canada! A new direct flight to Faro, … The working-capital ratio was 0.84, compared with 1.13 as at October 31, 2019. “During the year, we took all necessary actions to limit the damage and preserve our cash. Find details about our flights and the temporary suspension of certain routes here. Image: 947945. ... July 23, 2020 … “Our results reflect COVID-19’s devastating impact across the travel industry,” stated Jean-Marc Eustache, President and Chief Executive Officer of Transat. Before non-operating items, Transat reported an adjusted net loss3 of $355.3 million ($9.41 per share) for fiscal 2020, compared with $9.4 million ($0.25 per share) in 2019. If Air Canada does not come to an agreement with the regulatory authorities and obtain the required approvals before the outside date of February 15, 2021, the arrangement agreement may be terminated in accordance with its terms. The Corporation is monitoring the situation daily to adjust these measures as it evolves. Image: 951041. Disclaimer. Delta Air Lines Airbus A220-100 (CS100 BD-500-1A10) N105DU (msn 50024) SEA (Michael B. Ing). The Canadian leisure carrier, which is restarting its flights and tour operator activities on July 23, will only … There are no contests at the moment, come back soon! As a result, the Corporation recognized revenues of $28.4 million during the quarter, a decrease of $664.8 million (95.9%) compared with 2019. To this end, it has launched its Traveller Care program regarding health measures, which are regularly updated in compliance with recommendations issued by regulatory authorities. The special items also include additional provisions for return conditions of $6.4 million for leased aircraft that will no longer be used until they are returned to the lessors, professional fees and reversal of compensation expenses of $2.7 million related to the transaction with Air Canada and termination benefits of $0.9 million. This financing could also be obtained as part of a support program for the industry, as announced by the government.” stated Mr. Eustache. Your Central Hub for the Latest News and Photos powered by AirlinersGallery.com Images. Rabais et codes promos Air Transat - 5 décembre 2020 50% -Promotion Economisez jusqu'à -50% avec les aubaines de dernière minute Voir le rabais. The most recent version of Air Transat baggage policy (last updated 2020) is available on airline's official website by the link above. Airline Photo Galleries and Aircraft Slide Shows, From KOMO News: Report raises new questions about structural integrity of Boeing 787 Dreamliner https://komonews.com/news/local/report-raises-new-questions-about-structural-integrity-of-boeing-787-dreamliner, From Air Live. Found 5 Air Transat Canada promo codes & deals for Airtransat.com/en-CA - Nov 2020 Air Transat is Canada's number one airline that offers cheap flights with the best service for your next trip. LONDON – Air Transat (TS) has announced that Institutional Shareholder Services (ISS) and Glass, Lewis & Co. have recommended TS Shareholders to vote for the revised acquisition of Air … Considering the impacts of COVID-19, the Corporation recognized revenues of $1.3 billion, a decrease of $1.6 billion (55.7%) compared with 2019, and operations generated an operating loss of $426.0 million, compared with $13.6 million in 2019, a deterioration of $412.4 million. We have put in place a $250.0 million short-term financing facility and are currently working on replacing it, should the transaction not take place, with an overall financing covering our needs for the year 2021. Due to COVID-19, some services and inclusions (at the airport, on board or at destination) may be reduced or unavailable. We currently offer flights to Europe, the South and within Canada, as well as packages to the South and Europe. This exposes the Corporation to litigation and enforcement measures by legislative and regulatory authorities, including class action suits, which the Corporation intends to contest in good faith and with good reason. Visit Wagjag before your next flight for promotions and coupon codes … Please log in using one of these methods to post your comment: You are commenting using your WordPress.com account. Since March, the Corporation has been renegotiating with aircraft lessors, as well as other lessors, to defer a number of monthly lease payments. Air Transat and an Air Canada aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on April 8, 2020. As at October 31, 2020, there exists material uncertainty that may cast significant doubt on the Corporation’s ability to continue as a going concern. An Air Transat plane is seen as an Air Canada plane lands at Pierre Elliott Trudeau International Airport in Montreal on Thursday, May 16, 2019. As at October 31, 2020, cash and cash equivalents totaled $426.4 million, compared with $564.8 million as at October 31, 2019. Flights to Canada at the best price with Air Transat, World’s Best Leisure Airline. Roots Air (Skyservice) Airbus A320-232 C-FRAA (msn 1411) YYZ (TMK Photography). This change was mainly attributable to a significant decrease in profitability, the acquisition of one replacement engine for the A321neo LR fleet ($16.6 million), partially offset by the $50.0 million drawdown on the revolving credit facility agreement. Transat executives take a hit from reduced value of sale to Air Canada: proxy By The Canadian Press Mon., Nov. 16, 2020 timer 1 min. Among other things, the vast majority of North American, European and international air carriers have requested financial assistance measures, but have had to implement reductions in capacity (as the Corporation did). Image: 948273. MIAMI – Air Transat (TS) presents its 2020 summer flight schedule for Ontario. ( Log Out /  Change ), You are commenting using your Twitter account. Image: 103289. As it is impossible to assess the pace of recovery or the possible evolution of the pandemic and its effects, the Corporation, similarly to the vast majority of air carriers and other travel industry players, is currently reviewing various opportunities to increase its cash flow. Image: 948019. Skybus Airlines (3rd) Airbus A319-112 N553SX (msn 3171) BUR (Michael B. Ing). (iflygo.com) (Mesa Air Group) Bombardier CRJ200 (CL-600-2B19) N407SW (msn 7034) LAX (Ron Monroe). As a result of this sudden, unpredictable and unprecedented health crisis and the resulting travel restrictions, the Corporation decided, like other Canadian carriers, to issue travel credits for cancelled trips. Britannia Airways Boeing 757-204 G-BYAY (msn 28836) LGW (Antony J. 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Image: 946916. The provisional deadline by which the Commission must render its decision is now February 9, 2021. Image: 946950. This amount was mainly composed of commitments to take delivery of the 11 A321neos undelivered as at October 31, 2020. Air Transat in recent weeks further revised planned operation for the month of September and October 2020, as the airline continues to downsizes operation due to various travel restrictions, based on comparison to the airline’s initial schedule filing in June… ... 14 October, 2020 - We currently offer flights to … Sunworld International Airways (1st) McDonnell Douglas DC-9-31 N741L (msn 47418) TUS (Robert Drum). Such financing, put in place if necessary after postponing the maturity of the new short-term subordinated credit facility, could be provided through an application for the Large Employer Emergency Financing Facility (LEEFF) or through any government assistance program, including sector-specific assistance that could include loans and possibly other types of support announced by the Minister of Transport of Canada. The Air Transat App for Apple and Android mobile devices provides you with useful tools throughout your trip. Discussions relating to the sale of the Corporation. As at October 31, 2020, lease liabilities amounted to $853.9 million. Paul Chiasson/The Canadian Press. Previously announced by the airline, the … Air Canada’s offer has been endorsed by Transat’s board of directors but must also be approved by a two-thirds majority vote by Transat’s shareholders at a special meeting set for Dec. 15. Image: 952095. In particular, the Corporation has put in place a new $250.0 million subordinated short-term credit facility while continuing discussions with its financiers and the various levels of government to improve its cash flow. Note 2 to the consolidated financial statements contains more details on this issue. Transat reported adjusted operating loss1 of $122.2 million compared with adjusted operating income1 of $192.4 million in 2019, a deterioration of $314.6 million. Should the transaction with Air Canada not be completed, the Corporation will have to put in place overall financing totalling approximately $500.0 million in 2021 to ensure continuity of operations. (long distance charges may apply), IMPORTANT: Mandatory before any flight to Canada, Entry requirements of your destination country and information on our operations, Select your language. Following the resumption of airline operations, the Corporation was able to recall a certain number of employees, thereby adjusting its workforce to 25% of its pre-pandemic level. Excluding non-operating items, Transat reported an adjusted net loss3 of $156.4 million ($4.14 per share) for the fourth quarter of 2020, compared with adjusted net income3 of $30.1 million ($0.80 per share) in 2019. Image: 947992. Subsequently, the Corporation implemented reduced summer and winter programs and is continuously making adjustments based on the level of demand and decisions made by health and state authorities. Published Tuesday, December 15, 2020 11:32AM EST MONTREAL - Transat AT Inc.'s shareholders today approved the sale of the company to Air Canada for $5 per share. +1-514-906-5196 West Atlantic Cargo Airlines (UK) Boeing 737-83N WL BCF G-NPTB (msn 32609) LGG (Ton Jochems). Image: 946349. mid 2019, Canadian North and Air Greenland announce Letter of Intent, committing to explore opportunities to improve connectivity between Greenland and Canada, Air Canada latest to forewarn more cash burn; looks to raise $850M, Air Canada Announces Amos Kazzaz as Executive Vice President and Chief Financial Officer, Transat’s Shareholders Overwhelmingly Approve the Arrangement with Air Canada, Air Canada Aeroplan points for Wi-Fi on board, Air Canada Wins Prestigious Honours and Awards Across Business Segments, including Customer Service, Employee Engagement, Social Responsibility and Innovation, and Investor Relations Leadership, Flair Airlines Introduces COVID Coverage and Ensures Customers Receive Refunds for Cancelled Flights, Transat Clarifies Situation About Competing Proposals, Lack of Canadian airline support ‘an area of disappointment’: Airbus CEO, Hawaiian Airlines Announces Four New Routes, Weather (United States – National Weather Service), Austral Argentina (Austral Lineas Aereas), CCA-Central Charter Airlines (Czech Republic), Pacific Blue Airlines (flypacificblue.com), SEAA-Serviços Executivos Aéreos de Angola, Sociedad de Servicios Aéreos y Marítimos Archipiélagos, Efforts under way to secure financing to cover needs estimated at, Shareholder approval sought at the meeting of, If the required regulatory approvals are obtained and the conditions are met, the arrangement is expected to close prior to. The airline will offer 95 direct weekly flights from Toronto to Europe, South and the United States. Jazeera Airways Airbus A320-251N WL 9K-CBB (msn 9002) LGW (Antony J. As of the end of March, the Corporation proceeded with the gradual temporary layoff of a large part of its personnel, reaching approximately 85% at the height of the crisis. Net loss attributable to shareholders amounted to $238.1 million or $6.31 per share, compared with net income of $23.0 million or $0.61 per share in 2019. Consequently, for the time being, the Corporation is providing no outlook for winter 2021. To address the concerns raised by COVID-19 and to ensure your safety and that of our employees, we created Traveller Care, a program featuring new health and safety measures. Alitalia (3rd) (Societa Aerea Italiana) Boeing 777-3Q8 ER EI-WLA (msn 35783) JFK (Robbie Shaw). The Corporation has also reduced its investment expenditures where possible without jeopardizing its future development. The Corporation suspended all of its flights during nearly four months before resuming operations on July 23 and maintaining flights during the entire quarter on a reduced scale. The Corporation continues to monitor the situation daily to adjust these measures as it evolves. Transat 2020 contests . THE CANADIAN PRESS/Paul Chiasson CALGARY (660 NEWS) … Ethiopian Airlines Boeing 777-360 ER ET-ASL (msn 44551) BRU (Ton Jochems). To go ahead, the transaction with Air Canada will have to receive approval from the Governor in Council, on the Minister of Transport’s recommendation. THE CANADIAN PRESS/Ryan Remiorz … The impact of the pandemic annihilated a very good start to the fiscal year, as the adjusted operating income1 up to the beginning of March was up $63.3 million compared with 2019, due to a significant improvement in the profitability of the sun destinations program, our main program during the winter season. Image: 943157. PSA (Pacific Southwest Airlines) McDonnell Douglas DC-9-81 (MD-81) N934PS (msn 48042) SJC (Bruce Drum). This site uses Akismet to reduce spam. Despite the fall in revenues and the cost reduction measures implemented to deal with the COVID-19 pandemic, the Corporation was obliged to maintain certain fixed costs. Planning your trip. Aer Lingus Airbus A330-302 EI-EDY (msn 1025) JFK (Robbie Shaw). Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada’s holiday travel leader, announced its results for the fourth quarter and fiscal year ended October 31, 2020. The special items include impairment charges totalling $86.7 million, comprising $50.8 million for assets related to leased aircraft that will no longer be used until they are returned to the lessors, $32.8 million for the land in Mexico and $3.1 million for the investment in a joint venture. The competition authorities’ assessment process is currently complicated by the COVID 19 pandemic and the impact it is having on the international commercial aviation market. With 1406 airlines in the database, … Does the thought of going on vacation fill you with joy? Air Canada retains discretion to determine the extent of the remedies it is prepared to offer (beyond those that it is required to offer under the Arrangement Agreement). Use our search engine above for options. In March, as a precautionary measure, the Corporation drew down on its. Nordwind Airlines Boeing 777-2Q8 ER VP-BJG (msn 32718) AYT (Andi Hiltl). Midwest Connect-SkyWest Airlines Bombardier CRJ200 (CL-600-2B19) N498CA (msn 7792) CLE (Angelo Ballachino). NAC-Northern Air Cargo Boeing 767-323 ER WL N379CX (msn 25199) MIA Ken Petersen). for approval and expected on February 15, 2021. Image: 946910. The revised arrangement agreement terminates and replaces the original arrangement agreement between Transat and Air Canada dated June 27, 2019, as subsequently amended on August 11, 2019. Change ). Image: 947865. The Corporation has taken the following measures regarding the COVID-19 pandemic: Since mid-March, restrictions on international travel and government-imposed quarantine measures have made travel sales very difficult. Image: 902983. go! The upcoming completion of the transaction with Air Canada should give us the solidity to face the crisis and capitalize on the recovery that should be sparked by the arrival of a vaccine. The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. Legault left the company in 1997 with no forewarning after a dispute with business partners, who only found out after the fact. Deposits from customers for future travel amounted to $608.9 million, compared with $561.4 million as at October 31, 2019, an increase of $47.5 million. Then why not enter our online contests for a chance to win trips, roundtrip flights and cruise packages to the South, Europe, … Image: 941946. Off-balance-sheet arrangements, excluding contracts with service providers, stood at $872.2 million as at October 31, 2020. Looking for a complete airline directory? Finally, to give you more peace of mind when you travel, we’re now offering COVID-19 medical insurance at no extra cost. For more information and/or to change your current cookie settings, please refer to our Cookies Policy. Image: 948548. However, until the Corporation is able to resume operations at a sufficient level, the COVID-19 pandemic will have significant negative impacts on its revenues, cash flows from operations and operating results. 40% -Promotion Voyage dernière minute au Mexique : … Air Transat aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on Wednesday, April 8, 2020. Please see the Risks and Uncertainties section of the Corporation’s MD&A for the year ended October 31, 2020 for a more detailed discussion of the main risks and uncertainties facing the Corporation. In March, the Corporation decided to early retire all of its Airbus A310s from the fleet. Cabo Verde Airlines Boeing 757-236 WL D4-CCF (msn 25808) IAD (Brian McDonough). Sorry, your blog cannot share posts by email. Transat is extending its Book with peace of mind offer, applicable to all new flight bookings, until August 31, 2020. While the likelihood of the availability of a vaccine in the near future makes it possible to hope for the resumption of operations at a certain level during 2021, the Corporation does not expect such level to reach the pre-pandemic level before 2023. Change ), You are commenting using your Google account. Framable Prints and Posters. On March 27, 2020, the Commissioner of Competition released his advisory report to the Minister of Transport further to the Minister’s determination that the proposed arrangement raises issues with respect to the public interest regarding national transportation. Image: 946919. Accessibility, Special needs and Medical Equipment, Passengers travelling to/from United States: Customer Service Plan and Tarmac Delay Plan, Fraudulent phone calls and e-mail messages. Image: 948143. The outcome was announced less than two … Transat A.T. Inc. (the parent of Air Transat) made this announcement: Results reflecting the magnitude of the COVID-19 crisis Air Commerce Sarajevo (JAT) Boeing 727-2H9 YU-AKE (msn 21037) ZRH (Rolf Wallner).