Image: 948143. 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 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. 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. Transat is extending its Book with peace of mind offer, applicable to all new flight bookings, until August 31, 2020. Finally, to give you more peace of mind when you travel, we’re now offering COVID-19 medical insurance at no extra cost. 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. Find details about our flights and the temporary suspension of certain routes here. 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. 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. As at October 31, 2020, cash and cash equivalents totaled $426.4 million, compared with $564.8 million as at October 31, 2019. This offer allows passengers to change their travel dates or destination—or both—at no … Disclaimer. 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. Image: 943157. 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. Air Transat aircrafts are seen on the tarmac at Montreal-Trudeau International Airport in Montreal, on Wednesday, April 8, 2020. In the current situation, it is impossible for the moment to predict the impact of the COVID-19 pandemic on future bookings, the partial resumption of flight operations and financial results. Learn how your comment data is processed. The outcome was announced less than two … Post was not sent - check your email addresses! Since March, the Corporation has been renegotiating with aircraft lessors, as well as other lessors, to defer a number of monthly lease payments. THE CANADIAN PRESS/Paul Chiasson CALGARY (660 NEWS) … 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. Does the thought of going on vacation fill you with joy? We currently offer flights to Europe, the South and within Canada, as well as packages to the South and Europe. Sorry, your blog cannot share posts by email. 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. 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. Image: 105379. 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 … Discover our … Delta Air Lines Airbus A220-100 (CS100 BD-500-1A10) N105DU (msn 50024) SEA (Michael B. Ing). 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. Air Malta (2nd) (JAT) Boeing 727-2H9 YU-AKL (msn 22666) ZRH (Rolf Wallner). 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. 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. 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. 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. 1 The average fleet age is based on our own calculations and … 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. PSA (Pacific Southwest Airlines) McDonnell Douglas DC-9-81 (MD-81) N934PS (msn 48042) SJC (Bruce Drum). 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. Image: 944466. 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. Image: 948273. SalamAir Airbus A320-251N F-WWDM (A40-OVI) (msn 9197) TLS (Paul Bannwarth). Image: 946349. 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. 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. 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. 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. 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. Paul Chiasson/The Canadian Press. Discussions relating to the sale of the Corporation. “During the year, we took all necessary actions to limit the damage and preserve our cash. 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. ... 14 October, 2020 - We currently offer flights to … MIAMI – Air Transat (TS) presents its 2020 summer flight schedule for Ontario. Rabais et codes promos Air Transat - 5 décembre 2020 50% -Promotion Economisez jusqu'à -50% avec les aubaines de dernière minute Voir le rabais. Aero Continente (Chile) Boeing 767-2Q8 ER CC-CJR (msn 24448) MIA (Bruce Drum). 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. 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: 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, … Lufthansa is considering to retire it’s entire Airbus A380 and Boeing 747-400 fleet. 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Framable Prints and Posters. (toll free), TTY for hearing impaired : Change ), You are commenting using your Facebook account. This site uses Akismet to reduce spam. Star East Airlines Airbus A320-231 YR-SEA (msn 357) AYT (Ton Jochems). 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. The deterioration in our operating results was mainly attributable to a decline in revenues that was greater than the decrease in operating expenses. A new direct flight to Faro, … 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. Image: 948548. 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. 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. Air Transat has confirmed it is suspending operations to Zagreb for the 2020 summer season. 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. (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. 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. The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. Note 2 to the consolidated financial statements contains more details on this issue. For more information and/or to change your current cookie settings, please refer to our Cookies Policy. Image: 103289. 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. Image: 944176. Before you travel, it’s important that you check the entry requirements of your destination country. On May 1, 2020, Transport Canada in turn provided its assessment report to the Minister of Transport. November 18, 2020 - ... Book your Air Transat flight in USD. For incredible packages and deals on flights and hotel bookings, Canadians trust Air Transat. Change ). 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 … Image: 951037. To help you plan your trip, we’ve also assembled a practical guide full of travel tips and vital information on destination entry requirements. Air Commerce Sarajevo (JAT) Boeing 727-2H9 YU-AKE (msn 21037) ZRH (Rolf Wallner). 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. Image: 941946. As a result of the above factors, the Corporation experienced a significant deterioration in its performance for the year ended October 31, 2020. The provisional deadline by which the Commission must render its decision is now February 9, 2021. 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. In response to the first wave of the pandemic, the Corporation temporarily suspended its airline operations from April 1 to July 22, 2020. Image: 951041. Best). Transat 2020 contests . Off-balance-sheet arrangements, excluding contracts with service providers, stood at $872.2 million as at October 31, 2020. Change ), You are commenting using your Twitter account. 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! Jazeera Airways Airbus A320-251N WL 9K-CBB (msn 9002) LGW (Antony J. 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. 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. 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. ( Log Out / François Legault founded Air Transat with other business partners such as Jean-Marc Eustache, Philippe Sureau, Lina de Cesare, Yvon Lecavalier, and Pierre Ménard. for approval and expected on February 15, 2021. The global air transportation and tourism industry has faced a collapse in traffic and demand. 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. 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. Please log in using one of these methods to post your comment: You are commenting using your WordPress.com account. United Airlines Boeing 737-824 SSWL N36272 (msn 31590) (Star Wars – The Rise of Skywalker) SNA (Michael B. Ing). The Montreal-based tour operator's shareholders voted in a virtual meeting on … 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. 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 … Our flight schedule may change, depending on changes in travel restrictions and demand. Magma Aviation – Air Atlanta Icelandic Boeing 747-481 (F) TF-AMP (msn 24801) HHN (Rainer Bexten). With 1406 airlines in the database, … ( Log Out / 0100 D-AOLH (msn 11265) ZRH (Andi Hiltl). Roots Air (Skyservice) Airbus A320-232 C-FRAA (msn 1411) YYZ (TMK Photography). Azur Air Boeing 777-31H ER VQ-BZD (msn 32713) AYT (Andi Hiltl). Airline Videos, Route Maps and Aircraft Slide Shows. 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. 1-866-234-5136 AirlinersGallery.com Photostream on Facebook, McDonnell Douglas MD-80 (DC-9-81 – DC-9-87, MD-88), Norwegian Air Argentina - Developments from May 2018 to purchase by Jetsmart Argentina in late 2019, LATAM Argentina suspended operations indefinitely (announced 17Jun20), HISTORICAL INTEREST: Three F-28's that flew with the Armada Argentina (Argentine Navy), ROUTE UPDATES: Aerolineas adds more domestic flights out of EZE and American is flying daily EZE-MIA, HISTORICAL INTEREST: Three F-28's that flew with the FAA as VIP+Presidential Transports, HISTORICAL INTEREST: Five Fuerza Aerea Argentina F-28's that flew as Military Transports / LADE, ROUTE UPDATES: Regularly-scheduled domestic flights resumed in Argentina on 22Oct20 after a seven month suspension, FLEET UPDATE: Fuerza Aerea Argentina continues to operate one F-28, TC-52 (c/n 11074), HISTORICAL INTEREST: Fuerza Aerea Argentina / LADE retired F-27 fleet in September 2016 after nearly 40 years in service, ROUTE UPDATE: KLM replaced 777-300 with 787-9 on Amsterdam (AMS) - Buenos Aires Ezeiza (EZE) - Santiago (SCL) route in approx. Aer Lingus Airbus A330-302 EI-EDY (msn 1025) JFK (Robbie Shaw). Transat provides a simple and safe travel experience at every step. 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. This change was mainly attributable to the increase in the current portion of lease liabilities and the decrease in cash and cash equivalents. 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). 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 … 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. Air Transat Promo Codes 2020. The Corporation continues to monitor the situation daily to adjust these measures as it evolves.
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