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. Transat investors voted 91% in favor of the revised C$5-per-share bid, which includes the option to take Air Canada shares instead of cash. 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. Nordwind Airlines Boeing 777-2Q8 ER VP-BJG (msn 32718) AYT (Andi Hiltl). The deterioration in our operating results was mainly attributable to a decline in revenues that was greater than the decrease in operating expenses. Image: 946905. 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. 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. 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. Air Malta (2nd) (JAT) Boeing 727-2H9 YU-AKL (msn 22666) ZRH (Rolf Wallner). Aero Continente (Chile) Boeing 767-2Q8 ER CC-CJR (msn 24448) MIA (Bruce Drum). ... 14 October, 2020 - We currently offer flights to … The Corporation is monitoring the situation daily to adjust these measures as it evolves. 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. Customer deposits as at October 31, 2020 included these travel credits amounting to $531.7 million, 43% of which was placed in trust, with the difference representing deposits made directly with Air Transat or foreign subsidiaries. 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. 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 working-capital ratio was 0.84, compared with 1.13 as at October 31, 2019. Does the thought of going on vacation fill you with joy? Notably, a public interest assessment of the arrangement regarding national transportation is being undertaken by the Canadian authorities. THE CANADIAN PRESS/Paul Chiasson CALGARY (660 NEWS) … West Atlantic Cargo Airlines (UK) Boeing 737-83N WL BCF G-NPTB (msn 32609) LGG (Ton Jochems). 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. 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. For more details, visit Canada.ca/ArriveCAN. Transat A.T. Inc shareholders on Tuesday approved a discounted buyout offer from Air Canada, a spokesman for the Montreal-based tour operator said, sending Transat shares up more than … 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. 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. 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 … Image: 943157. Sorry, your blog cannot share posts by email. NAC-Northern Air Cargo Boeing 767-323 ER WL N379CX (msn 25199) MIA Ken Petersen). Air Transat aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on Wednesday, April 8, 2020. Image: 947992. Use our search engine above for options. 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. 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. Image: 946910. Find details about our flights and the temporary suspension of certain routes here. This site uses Akismet to reduce spam. An error has occurred; the feed is probably down. The Corporation has also reduced its investment expenditures where possible without jeopardizing its future development. 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. Air Transat has confirmed it is suspending operations to Zagreb for the 2020 summer season. 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. Image: 947865. 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, … PSA (Pacific Southwest Airlines) McDonnell Douglas DC-9-81 (MD-81) N934PS (msn 48042) SJC (Bruce Drum). 40% -Promotion Voyage dernière minute au Mexique : … SalamAir Airbus A320-251N F-WWDM (A40-OVI) (msn 9197) TLS (Paul Bannwarth). Britannia Airways Boeing 757-204 G-BYAY (msn 28836) LGW (Antony J. Transat is extending its Book with peace of mind offer, applicable to all new flight bookings, until August 31, 2020. Sundair Airbus A320-214 D-ASMR (msn 2619) AYT (Andi Hiltl). Image: 948019. Flights to Canada at the best price with Air Transat, World’s Best Leisure Airline. 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. Ethiopian Airlines Boeing 777-360 ER ET-ASL (msn 44551) BRU (Ton Jochems). 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. Best). 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. (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. For more information and/or to change your current cookie settings, please refer to our Cookies Policy. As at October 31, 2020, lease liabilities amounted to $853.9 million. Failure to do so may result in a fine. 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 Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. There are no contests at the moment, come back soon! Image: 948143. Finally, to give you more peace of mind when you travel, we’re now offering COVID-19 medical insurance at no extra cost. Change ), You are commenting using your Google account. Framable Prints and Posters. 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. November 18, 2020 - ... Book your Air Transat flight in USD. The Air Transat App for Apple and Android mobile devices provides you with useful tools throughout your trip. 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. TTY for hearing impaired: A new direct flight to Faro, … Planning your trip. Image: 947004. 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… This financing could also be obtained as part of a support program for the industry, as announced by the government.” stated Mr. Eustache. 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. 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). 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. Visit Wagjag before your next flight for promotions and coupon codes … François Legault founded Air Transat with other business partners such as Jean-Marc Eustache, Philippe Sureau, Lina de Cesare, Yvon Lecavalier, and Pierre Ménard. Image: 948003. European Commission approves €106.7 million restructuring aid and €30.2 compensation for damages suffered due to coronavirus outbreak in favor of Corsair, JSX files lawsuit against Orange County Airport, Deutsche Aircraft introduces the D328eco™, a zero emissions aircraft, Delta’s first COVID-tested flight departs Atlanta, charting path to global recovery, airBaltic to offer over 2,500 flights during December and January, receives two more A220-300s, Peter Nygard introduces a dazzling new scheme for his Boeing 727, The first FedEx Express flight with Pfizer’s COVID-19 vaccine departs from Grand Rapids for Memphis, China Airlines readies first Boeing 777F for new era in cargo services, Norwegian Air Shuttle initiates a reorganization process in Norway, KOMO News: Report raises new questions about structural integrity of Boeing 787 Dreamliner, Lufthansa is considering to retire it’s entire Airbus A380 and Boeing 747-400 fleet, "La Belle Azul" pink livery for breast cancer awareness, Eritrean's first Airbus A330 in a new livery, First aircraft in FIFA World Cup Qatar 2022 livery, 2020 drawings and designs from artist SUMO (Christian Pearson), "Tibarama", Aircalin's first Airbus A320neo, "Mt Elgon" - new Uganda Airlines' first Airbus A330-800, CAA's first Airbus A330-200, ex Air Europa, "Hauptstadtflieger" ("Capital City Plane") for the first LH flight to new Berlin Airport (BER) from MUC, 1st A320neo, delivered September 28, 2020, in service October 25, 2020 KIX-CTS. 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. This amount was mainly composed of commitments to take delivery of the 11 A321neos undelivered as at October 31, 2020. Air Transat and an Air Canada aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on April 8, 2020. 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. Image: 948358. The hotel development strategy and related objectives are affected by the arrangement as the Corporation has agreed to limit its commitments and expenses related to the execution of its hotel strategy in the period leading up to the closing of the arrangement. Image: 948356. “During the year, we took all necessary actions to limit the damage and preserve our cash. Image: 944466. Skybus Airlines (3rd) Airbus A319-112 N553SX (msn 3171) BUR (Michael B. Ing). Transat provides a simple and safe travel experience at every step. Image: 105379. Off-balance-sheet arrangements, excluding contracts with service providers, stood at $872.2 million as at October 31, 2020. Consequently, for the time being, the Corporation is providing no outlook for winter 2021. ( Log Out /  Discover our … Aer Lingus Airbus A330-302 EI-EDY (msn 1025) JFK (Robbie Shaw). 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. Air Transat Promo Codes 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. This change was mainly attributable to the increase in the current portion of lease liabilities and the decrease in cash and cash equivalents. Transat A.T. Inc. (the parent of Air Transat) made this announcement: Results reflecting the magnitude of the COVID-19 crisis 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. 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. Transat 2020 contests . 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. The airline will offer 95 direct weekly flights from Toronto to Europe, South and the United States. Just Us Air Airbus A321-231 YR-NTS (msn 1153) PMI (Javier Rodriguez). The global air transportation and tourism industry has faced a collapse in traffic and demand. Legault left the company in 1997 with no forewarning after a dispute with business partners, who only found out after the fact. THE CANADIAN PRESS/Ryan Remiorz … Post was not sent - check your email addresses! As a result of the above factors, the Corporation experienced a significant deterioration in its performance for the year ended October 31, 2020. The Corporation continues to monitor the situation daily to adjust these measures as it evolves. Does the thought of going on vacation fill you with joy? 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 … Image: 946916. Discussions relating to the sale of the Corporation. We currently offer flights to Europe, the South and within Canada, as well as packages to the South and Europe. 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. 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. Change ), You are commenting using your Facebook account. Image: 951041. 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. Image: 948273. Learn how your comment data is processed. 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. Alitalia (3rd) (Societa Aerea Italiana) Boeing 777-3Q8 ER EI-WLA (msn 35783) JFK (Robbie Shaw). for approval and expected on February 15, 2021. Your Central Hub for the Latest News and Photos powered by AirlinersGallery.com Images. 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 … Air Transat in the last few days further revised planned operation for summer 2020 season, as the airline completed schedule and aircraft update. In response to the first wave of the pandemic, the Corporation temporarily suspended its airline operations from April 1 to July 22, 2020. Image: 947945. Transat AT Inc.'s shareholders today approved the sale of the company to Air Canada for $5 per share. 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. Before you travel, it’s important that you check the entry requirements of your destination country. Disclaimer. Image: 946919. Airline Videos, Route Maps and Aircraft Slide Shows. 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. 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. 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. Roots Air (Skyservice) Airbus A320-232 C-FRAA (msn 1411) YYZ (TMK Photography). The outcome was announced less than two … Image: 100980. Change ). The current selection is Canada (CAD) - English, Dropdown Menu : Press the enter key to show the sub-menu. 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. Image: 944176. The provisional deadline by which the Commission must render its decision is now February 9, 2021. Book your direct flights to Toronto, Vancouver, Calgary, Montreal and more. For incredible packages and deals on flights and hotel bookings, Canadians trust Air Transat. 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). Star East Airlines Airbus A320-231 YR-SEA (msn 357) AYT (Ton Jochems). +1-514-906-5196 In March, as a precautionary measure, the Corporation drew down on its. As at October 31, 2020, cash and cash equivalents totaled $426.4 million, compared with $564.8 million as at October 31, 2019. The Montreal-based tour operator's shareholders voted in a virtual meeting on … Image: 948198. Image: 941946. With 1406 airlines in the database, … Lufthansa is considering to retire it’s entire Airbus A380 and Boeing 747-400 fleet. Looking for a complete airline directory? 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. 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. The Corporation cannot predict all the impacts of COVID-19 on its operations and results, or precisely when the situation will improve. “Our results reflect COVID-19’s devastating impact across the travel industry,” stated Jean-Marc Eustache, President and Chief Executive Officer of Transat. 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. 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. ( Log Out /  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 … 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. Avantiair Fokker F.28 Mk. Sunworld International Airways (1st) McDonnell Douglas DC-9-31 N741L (msn 47418) TUS (Robert Drum). Since March, the Corporation has been renegotiating with aircraft lessors, as well as other lessors, to defer a number of monthly lease payments. 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. Note 2 to the consolidated financial statements contains more details on this issue. The European Commission released on September 28, 2020 a statement of objections to the arrangement. 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. 0100 D-AOLH (msn 11265) ZRH (Andi Hiltl).