This context could impact the obtaining of approvals from regulatory authorities, especially regarding the appropriate package of remedies aimed at obtaining those approvals. As at October 31, 2020, cash and cash equivalents totaled $426.4 million, compared with $564.8 million as at October 31, 2019. The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. 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Azur Air Boeing 777-31H ER VQ-BZD (msn 32713) AYT (Andi Hiltl). Transat is extending its Book with peace of mind offer, applicable to all new flight bookings, until August 31, 2020. Image: 941946. 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. The Corporation has also been negotiating with its suppliers to benefit from cost reductions and changes in payment terms, and has implemented measures to reduce expenses and investments. Image: 946928. 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. Britannia Airways Boeing 757-204 G-BYAY (msn 28836) LGW (Antony J. Does the thought of going on vacation fill you with joy? (toll free), TTY for hearing impaired : The Corporation has also reduced its investment expenditures where possible without jeopardizing its future development. 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. The provisional deadline by which the Commission must render its decision is now February 9, 2021. The outcome was announced less than two … The decline in operating results was accentuated by special items totalling $96.7 million and the unfavourable settlement of fuel-related derivative contracts. 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. 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… 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. 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. Midwest Connect-SkyWest Airlines Bombardier CRJ200 (CL-600-2B19) N498CA (msn 7792) CLE (Angelo Ballachino). Skybus Airlines (3rd) Airbus A319-112 N553SX (msn 3171) BUR (Michael B. Ing). As part of the implementation of the revised arrangement agreement and the new loan facility, Transat has also been able to make certain amendments to its existing senior revolving term credit facility, including the temporary suspension of the application of certain financial ratios, providing Transat with additional flexibility in the context of the current business and economic environment. “During the year, we took all necessary actions to limit the damage and preserve our cash. Image: 943157. As a result of the above factors, the Corporation experienced a significant deterioration in its performance for the year ended October 31, 2020. TTY for hearing impaired: 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. François Legault founded Air Transat with other business partners such as Jean-Marc Eustache, Philippe Sureau, Lina de Cesare, Yvon Lecavalier, and Pierre Ménard. 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. ( Log Out /  Image: 947992. Off-balance-sheet arrangements, excluding contracts with service providers, stood at $872.2 million as at October 31, 2020. Air Transat has confirmed it is suspending operations to Zagreb for the 2020 summer season. 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. This amount was mainly composed of commitments to take delivery of the 11 A321neos undelivered as at October 31, 2020. Image: 947945. Discussions relating to the sale of the Corporation. 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. Image: 951041. S7 Airlines (Siberia Airlines) Airbus A321-271N WL VQ-BGU (msn 8620) AYT (Andi Hiltl). Magma Aviation – Air Atlanta Icelandic Boeing 747-481 (F) TF-AMP (msn 24801) HHN (Rainer Bexten). 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. This offer allows passengers to change their travel dates or destination—or both—at no … 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. Iraqi Airways Airbus A330-202 YI-AQY (msn 1339) AYT (Arnd Wolf). 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. Best). United Airlines Boeing 737-824 SSWL N36272 (msn 31590) (Star Wars – The Rise of Skywalker) SNA (Michael B. Ing). The Corporation cannot predict all the impacts of COVID-19 on its operations and results, or precisely when the situation will improve. Our flight schedule may change, depending on changes in travel restrictions and demand. Due to COVID-19, some services and inclusions (at the airport, on board or at destination) may be reduced or unavailable. 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. Discover our … 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. 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. It is now possible to book your Air Transat flight in USD! The most recent version of Air Transat baggage policy (last updated 2020) is available on airline's official website by the link above. Cabo Verde Airlines Boeing 757-236 WL D4-CCF (msn 25808) IAD (Brian McDonough). 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. Does the thought of going on vacation fill you with joy? Air Canada slashed the purchase price for tour operator Transat AT Inc. to almost a quarter of its earlier offer, citing the impact of the Covid-19 outbreak on the air transport industry. 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. 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. Roots Air (Skyservice) Airbus A320-232 C-FRAA (msn 1411) YYZ (TMK Photography). Air Transat and an Air Canada aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on April 8, 2020. Previously announced by the airline, the … 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. 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. Image: 948019. 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. Transat A.T. Inc. (the parent of Air Transat) made this announcement: Results reflecting the magnitude of the COVID-19 crisis Transaction with Air Canada submitted to shareholders and … An error has occurred; the feed is probably down. The global air transportation and tourism industry has faced a collapse in traffic and demand. Image: 951037. 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. The Corporation is monitoring the situation daily to adjust these measures as it evolves. 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 … SalamAir Airbus A320-251N F-WWDM (A40-OVI) (msn 9197) TLS (Paul Bannwarth). 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. The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. Press the enter key to open the dropdown menu. Image: 948356. ( Log Out /  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. 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. Image: 100980. November 18, 2020 - ... Book your Air Transat flight in USD. Since March, the Corporation has been renegotiating with aircraft lessors, as well as other lessors, to defer a number of monthly lease payments. Image: 948003. Image: 105379. Consequently, for the time being, the Corporation is providing no outlook for winter 2021. Lufthansa is considering to retire it’s entire Airbus A380 and Boeing 747-400 fleet. Sorry, your blog cannot share posts by email. Transat 2020 contests . Click here for our frequently asked questions about COVID-19. 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The airline will offer 95 direct weekly flights from Toronto to Europe, South and the United States. Transaction with Air Canada submitted to shareholders and regulatory authorities 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. 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! For more details, visit Canada.ca/ArriveCAN. NAC-Northern Air Cargo Boeing 767-323 ER WL N379CX (msn 25199) MIA Ken Petersen). Air Transat Promo Codes 2020. Looking for a complete airline directory? “Our results reflect COVID-19’s devastating impact across the travel industry,” stated Jean-Marc Eustache, President and Chief Executive Officer of Transat. 1-866-234-5136 Legault left the company in 1997 with no forewarning after a dispute with business partners, who only found out after the fact. Disclaimer. Image: 944466. Best). Just Us Air Airbus A321-231 YR-NTS (msn 1153) PMI (Javier Rodriguez). 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, … Image: 944176. 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. Visit Wagjag before your next flight for promotions and coupon codes … For incredible packages and deals on flights and hotel bookings, Canadians trust Air Transat. Failure to do so may result in a fine. As at October 31, 2020, lease liabilities amounted to $853.9 million. 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. Traveller Care. 1 The average fleet age is based on our own calculations and … 40% -Promotion Voyage dernière minute au Mexique : … 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. Before you travel, it’s important that you check the entry requirements of your destination country. 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. 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. Paul Chiasson/The Canadian Press. 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. The Montreal-based tour operator's shareholders voted in a virtual meeting on … ... 14 October, 2020 - We currently offer flights to … Image: 946910. Change ). Air Transat in the last few days further revised planned operation for summer 2020 season, as the airline completed schedule and aircraft update. 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. Finally, to give you more peace of mind when you travel, we’re now offering COVID-19 medical insurance at no extra cost. Image: 103289. Image: 902983. go! The Canadian leisure carrier, which is restarting its flights and tour operator activities on July 23, will only … In March, the Corporation decided to early retire all of its Airbus A310s from the fleet. Book your direct flights to Toronto, Vancouver, Calgary, Montreal and more. The deterioration in our operating results was mainly attributable to a decline in revenues that was greater than the decrease in operating expenses. 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. Please log in using one of these methods to post your comment: You are commenting using your WordPress.com account. ( Log Out /  The Corporation continues to monitor the situation daily to adjust these measures as it evolves. Planning your trip. There are no contests at the moment, come back soon! Note 2 to the consolidated financial statements contains more details on this issue. 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. 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. Aer Lingus Airbus A330-302 EI-EDY (msn 1025) JFK (Robbie Shaw). Flights to Canada at the best price with Air Transat, World’s Best Leisure Airline. So that you can book with confidence, we’re offering more flexibility to change or cancel your flight or package. Transat A.T. Inc. (the parent of Air Transat) made this announcement: Results reflecting the magnitude of the COVID-19 crisis PSA (Pacific Southwest Airlines) McDonnell Douglas DC-9-81 (MD-81) N934PS (msn 48042) SJC (Bruce Drum). THE CANADIAN PRESS/Paul Chiasson CALGARY (660 NEWS) … 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). The European Commission released on September 28, 2020 a statement of objections to the arrangement. 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. Image: 948143. 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. Transat AT Inc.'s shareholders today approved the sale of the company to Air Canada for $5 per share. Avantiair Fokker F.28 Mk. Post was not sent - check your email addresses! 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. 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. 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 … Delta Air Lines Airbus A220-100 (CS100 BD-500-1A10) N105DU (msn 50024) SEA (Michael B. Ing). Change ), You are commenting using your Google account. 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. Change ), You are commenting using your Facebook account. On May 1, 2020, Transport Canada in turn provided its assessment report to the Minister of Transport. Change ), You are commenting using your Twitter account. 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. The current selection is Canada (CAD) - English, Dropdown Menu : Press the enter key to show the sub-menu. The transition to Phase II is part of the European Commission’s normal process of assessing the impact of transactions submitted for its approval when it is concerned that a transaction may effectively reduce competition. Image: 946905. Image: 946919. Air Malta (2nd) (JAT) Boeing 727-2H9 YU-AKL (msn 22666) ZRH (Rolf Wallner). 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). 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. On October 9, 2020, a revised arrangement agreement [“the revised arrangement agreement” or the “arrangement agreement”] was approved unanimously by Transat’s Board of Directors, under which Air Canada will acquire all the issued and outstanding shares of Transat at the price of $5.00 per share, payable at the holder’s option in cash or in Air Canada shares or a combination thereof, and then form a combined world-class company based in Montreal. THE CANADIAN PRESS/Ryan Remiorz … Image: 946349. ( Log Out /  For more information and/or to change your current cookie settings, please refer to our Cookies Policy. 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. Sunworld International Airways (1st) McDonnell Douglas DC-9-31 N741L (msn 47418) TUS (Robert Drum). Tibet Airlines Airbus A319-115 WL B-6451 (msn 5855) TSN (Michael B. Ing). Learn how your comment data is processed. Image: 948273. West Atlantic Cargo Airlines (UK) Boeing 737-83N WL BCF G-NPTB (msn 32609) LGG (Ton Jochems). 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. for approval and expected on February 15, 2021. 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. 0100 D-AOLH (msn 11265) ZRH (Andi Hiltl). Subsequently, Management and the Board of Directors, agreed on a voluntary temporary reduction in their compensation ranging from 10% to 20%, which was in place until. This financing could also be obtained as part of a support program for the industry, as announced by the government.” stated Mr. Eustache. Management is seeking to secure the financing that would be required prior to the maturity of the new short-term subordinated credit facility (to date, March 31, 2021) and is currently in discussions with potential lenders, including government authorities. 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. Image: 948358. Image: 946950. Sundair Airbus A320-214 D-ASMR (msn 2619) AYT (Andi Hiltl). Alitalia (3rd) (Societa Aerea Italiana) Boeing 777-3Q8 ER EI-WLA (msn 35783) JFK (Robbie Shaw). Image: 947004. 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 … 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. Your Central Hub for the Latest News and Photos powered by AirlinersGallery.com Images. Operations generated an operating loss of $239.3 million compared with operating income of $37.1 million in 2019, a deterioration of $276.4 million.