Jump to content

Air Transat Announcements


Guest
 Share

Recommended Posts

49 minutes ago, Maverick said:

Who could have imagined a Quebec based, dirty oil burning, carbon spewing company would receive a bailout from the federal government?

 

Tour operator Transat to get $700M loan from Canadian government | Seeking Alpha

It's not a "bailout"... the government purchased some shares in the company, and loaned them some money. Much like the deal Air Canada got. I'm sure Westjet is negotiating something similar.

Link to comment
Share on other sites

2 hours ago, Kip Powick said:

I hope Transat Vacations comes back....I have an IOU from them.

Looks like you might be lucky, at least if yours qualifies:

Transat offers refunds for travel credits issued due to COVID-19

livree2012_2-e1529022238146.jpg?w=621

MONTREAL, April 29, 2021 /CNW Telbec/ – Transat is pleased to announce that a funding agreement with the Canada Enterprise Emergency Funding Corporation (CEEFC) now allows it to offer refunds to travellers who were issued a travel credit due to COVID-19 for a trip scheduled to start on or after February 1, 2020. This policy applies to flights and packages booked by April 29, 2021. Going forward, should Transat make changes to its flight program, affected customers would also be eligible for a refund.

“We’ve been impatiently waiting for this moment, and we know our customers have been, too,” says Annick Guérard, Chief Operating Officer of Transat. “Now that a funding agreement has been reached and the eligibility criteria have been established by the Government of Canada, we are delighted to be able to provide our customers with this long-awaited aid.” 

Among the parameters set by government authorities, those who have a travel credit must submit their refund request to Transat by August 26, 2021. This is why they are invited to complete the request form available at airtransat.com/refunds as soon as possible. If they originally booked with a travel agent or online travel agency, they should contact them directly.

“Travel agents have shown unwavering resilience and support since the crisis began,” adds Guérard. “That’s why we’re pleased to confirm that commissions earned by agents will not be recalled if their customers opt for a refund.”

Customers and travel agents are invited to visit airtransat.com/refunds to consult our frequently asked questions or learn about the refund eligibility criteria.

How to apply for a refund from Transat for a cancelled or changed flight

Published Thursday, April 29, 2021 1:36PM EDT

SHARE:

 
 

TORONTO -- Travel company Transat AT Inc. says reimbursement for customers who have paid for flights that were scheduled to leave on or after Feb. 1, 2020 will begin immediately, following the announcement of a $700-million loan from the federal government.

Nearly half of the funding will be used to provide reimbursements to travellers, the airline said.

Transat says refund eligibility criteria is available online at airtransat.com/refunds.

Here's a look at how to request refunds.

WHO IS ELIGIBLE FOR A REFUND?

Transat says eligible customers include those who have a travel credit, departure scheduled for February 1, 2020 or later, booking made before April 29, 2021, did not transfer their travel credit nor received transferred travel credit, did not submit a claim to insurance company and whose booking is not subject to an active chargeback claim or has not already been refunded by a credit card provider.

HOW CAN REFUNDS BE REQUESTED?

Refund requests can be submitted using Transat's online form as soon as possible. The form is available at https://www.airtransat.com/en-CA/refunds.

HOW SOON WILL REFUNDS BE RECEIVED?

Transat says processing times may take up to three months due to the high volume of requests. It says requests will be treated in the order in which they are received.

WHEN IS THE DEADLINE TO SUBMIT REQUESTS?

Refund requests must be submitted using Transat's online form by August 26, 2021. Transat says customers who don't submit their request by this time will not get a refund. It says their travel credit will remain on file and will be available when making a new booking.

WHAT IF I BOOKED WITH A TRAVEL AGENCY OR THIRD PARTY?

Transat says if you originally booked with a travel agency or third party, contact them so they can submit a request on your behalf. If you can't reach your travel agency or they're closed, fill out a refund analysis form and submit it by August 26, 2021.

WHAT ABOUT THOSE WHO DON'T WANT A REFUND?

Transat says if you want to keep your travel credit, no action is required. The credit will remain on your file with the same conditions and will be available when making a new booking. You cannot request a partial refund because travel credit cannot be split up.

This report by The Canadian Press was first published April 29, 2

About Transat

Link to comment
Share on other sites

Yup, I qualify..Had to stop diving on March 08  after only one week and come home so lost two weeks of diving.....I will go for a refund.....

.Got the same sorta thing,  keep travel voucher on file..or refund, from AC as they have a credit for me as well. Will go refund.

Not sure what DELTA will do as I have a travel voucher from them as well...Probably see what they are doing.

Link to comment
Share on other sites

  • 2 weeks later...

Air Transat extends suspension of operations

airtransatlogo.png?w=640

May 12, 2021 – Air Transat Website

Due to continued travel restrictions, both in Canada and in the destinations we serve, our operations are temporarily suspended until July 29, 2021, inclusively.

Clients affected by flight cancellations will receive a notice shortly informing them of their options.

If you have any questions, please refer to our FAQ.

Link to comment
Share on other sites

Transat provides status update regarding its discussions with Pierre Karl Péladeau for the acquisition of Transat

2016-transat_hor_rgb_1.png?w=1024

MONTRÉAL, May 14, 2021 /CNW Telbec/ – Transat A.T. Inc. (“Transat” or the “Corporation“) wishes to update the market regarding its discussions with Mr. Pierre Karl Péladeau regarding the potential acquisition of all of the shares of Transat through his holding company Gestion MTRHP inc. (“MTRHP“).

On April 7, 2021, Mr. Péladeau delivered to Transat a non-binding proposal contemplating a transaction pursuant to which MTRHP would acquire all of the shares of Transat for a consideration of $5.00 per share, payable in cash. Although this proposal required a response within two days, the parties have from that date and until May 13 continued their discussions on the basis of this proposal and it has been thoroughly reviewed by the special committee of independent directors responsible for evaluating any proposal to acquire the Transat shares with the assistance of financial and legal advisors.

Transat has taken note of Mr. Péladeau’s public statements of yesterday but has not received any formal communication on this matter.

Transat announced on April 29, 2021 that it had reached an agreement with the Government of Canada to borrow up to $700 million in additional liquidity through the Large Employer Emergency Financing Facility (LEEFF). This additional liquidity allows the company to plan for the resumption of its operations and the implementation of its strategic plan for the coming years.

 

Link to comment
Share on other sites

I'm assuming that's in relation to this.

https://globalnews.ca/news/7862576/transat-at-peladeau-takeover-talks-end/

Transat A.T. says negotiations about a takeover offer from Pierre Karl Péladeau ended Thursday, while the Quebec businessman says that he was no longer interested in acquiring the tour operator.

70c8fc80

According to an update issued by Transat on Friday, Péladeau sent it a non-binding proposal on April 7, under which his private investment company Gestion MTRHP would acquire all of the Transat shares for $5 in cash per share.

Even though the proposal called for a response within 48 hours, the two groups continued talks until Thursday, Transat said in a statement.

The offer was also the subject of an in-depth review by a special committee, made up of independent directors who were responsible for evaluating any proposal to acquire Transat shares.

However, Péladeau said Thursday that he had “no more interest” in the tour operator, specifying that he had not been able to agree on a price with Transat’s largest shareholder, Letko, Brosseau & Associates.

Transat said it is aware of Péladeau’s public statements, but added that it had not received any formal communication on this subject.

Talks between the two sides followed an aborted transaction with Air Canada. The country’s largest airline pulled the plug on its $190-million deal last month over Europe’s unwillingness to approve the transaction.

Transat reached an agreement with Ottawa to borrow up to $700 million to reimburse its customers whose flights were cancelled due to the COVID-19 pandemic, and help support its business.

Link to comment
Share on other sites

Transat unveils new refund tracking tool

From Travelweek Group – link to source story

Transat unveils new refund tracking tool
Quote

 

MONTREAL, 21 May 2021 — Transat has launched a new online tool to help travel agents and travellers track their refund requests.

Transat first announced last month that it will now be offering refunds to travellers who were issued a travel credit due to COVID-19, while at the same time protecting agent commissions.

With the new tracker tool, users simply enter the Transat booking number and full name to check the status of their request. Refund requests will have one of the following statuses: Received, Processing, or Review has been completed.

Here is the link to their new tool

 

Track your refund request | Air Transat

Link to comment
Share on other sites

Kinda weird .. I submitted a request on April 30th and got an acknowledgement of the submission yet the TRACK................. says no record under my name......so I submitted another one today and got another acknowledgement of the submission..........

hey !!!! maybe double refund      ScreenShot006.jpg.689034b1e9f65087de39b0cc5ba58240.jpg

Link to comment
Share on other sites

  • 2 weeks later...

Transat, majority shareholder of TraficTours Canada Inc. since 2007, acquires the remaining 30% of the incoming tour operator

2016-transat_hor_rgb_1.png?w=1024

MONTREAL, June 1, 2021 /CNW/ – Transat A.T. Inc. (“Transat” or the “Corporation”), 70% shareholder of TraficTours Canada Inc. (“TraficTours”), announced today that it has acquired on May 31, 2021 the 30% minority interest in the incoming tour operator held by the minority shareholder, following a mutual agreement between the two parties. The purchase price is for an amount lower than the amount booked in Transat’s financial statements on account of the option to purchase such minority interest. The minority shareholder had the option to require Transat to purchase the minority interest since 2019. The manager of TraficTours and its subsidiaries remains in place to ensure the operations run regularly.

TraficTours offers excursions and other services to vacationers in Mexico, the Dominican Republic and Jamaica. By becoming sole shareholder, Transat is strengthening its inbound services in three of these key markets.

About Transat
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel. Under the Transat and Air Transat banners, the Corporation offers vacation packages, hotel stays and air travel to some 60 destinations in over 25 countries in the Americas and Europe. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 14 years and obtained Travelife certification in 2018. The Corporation is based in Montréal (TSX : TRZ).

Link to comment
Share on other sites

  • 2 weeks later...

Transat continues takeover talks with Pierre-Karl Peladeau as losses mount

From The Globe and Mail – link to source story

Eric Atkins, Transportation Reporter | June 10, 2021

MQJD4QLMVRGXJAXWXEHR56K6EY.jpg Transat AT Inc. said it lost $69-million in the three months ending April 30, or $1.84 a share. Bloomberg/Getty Images

Tour operator Transat AT Inc. TRZ-T +2.64%increase is pursuing takeover talks with Pierre-Karl Peladeau as the airline’s losses pile up amid a halt to operations that has reached the fifth month.

Montreal-based Transat said on Thursday morning it lost $69-million in the three months ending April 30, or $1.84 a share. For a quarter in which Transat’s planes were grounded, revenue fell by 98.7 per cent to $7.6-million.

The airline halted flights at the end of January after the federal government called for an end to service to Mexico and the Caribbean and imposed new travel restrictions.

“Following a quarter without revenues, progress made on vaccinations allows us to plan for a gradual resumption starting July 30,” said Annick Guérard, who in May replaced retiring founder Jean-Marc Eustache as Transat’s chief executive officer.

Ms. Guerard takes charge at a low point in Transat’s history. The pandemic halted its operations and sent plunging the value of Air Canada’s AC-T -1.29%decrease proposed takeover to $190-million from $720-million. The two airlines agreed in April to abandon the deal after the European regulator signalled it was unlikely to approve it.

Gestion MTRHP Inc., an investors group led by Mr. Peladeau, has made a cash offer to buy Transat for $5 a share. The talks are continuing, Transat said on Thursday, and might not lead to a deal.

Mr. Peladeau on May 13 said he had ended talks to buy Transat after his offer was dismissed by shareholder Letko Brosseau and Associates as too low. A spokeswoman for Mr. Peladeau declined to comment on Thursday.

Transat shares traded at about $5.70 on Wednesday on the Toronto Stock Exchange.

Meanwhile, the company said it has secured enough financing to restart its operations, but will take steps to slash costs, including terminating its hotel division and ending leases on three aircraft.

On a conference call with analysts on Thursday, Ms. Gerard laid out Transat’s “prudent” restart for the airline, adding routes gradually to capitalize on demand from travellers visiting families and friends.

She said shedding planes and the expected sale of the Mexican hotel property will leave Transat a simpler company focused on leisure air travel that enable it to be profitable with less revenue.

She said Air Transat will focus on Eastern Canada – Montreal in particular – and flights to the United States, as it builds a network fed by domestic connections to the western provinces while maintaining international destinations and alliances with other carriers. The airline has pared its fleet to two models from four, the Airbus A330 and A321, simplifying operations and reducing costs.

Transat will no longer lease seasonal planes in the winter, and will make more use of the aircraft it owns.

“It’s an exciting time for me to take over at Air Transat,” Ms. Guerard said.  “We have a solid plan for that. We have the team for it. And now we have the financing.”

Ms. Guerard expressed optimism demand for air travel will recover to 2019 levels more quickly than the industry forecast of 2024 or 2025. But 2022 will be another difficult year for Transat, Ms. Guerard said. “After that, we will be able to come back … and look for profitability.”

Benoit Poirier, a stock analyst at Desjardins Financial, said Transat’s slow restart means it will not benefit from any recovery in demand for air travel until late in 2021.

Transat has accepted a taxpayer bailout worth as much as $700-million, a deal that lets it refund $310-million in airfares for flights cancelled in the pandemic while allowing the federal government to own as much as 20 per cent of the company. Transat said it has drawn $220-million of a total available $820-million financing, and has $346-million in cash and equivalents.

Transat has idled more than 4,000 of its 5,000 employees and said it will continue to collect federal wage subsidies.

Porter Airlines and Sunwing Airlines have also grounded their planes in the pandemic, which caused the global industry to post deep losses amid travel bans and closed borders.

Peter Letko, vice-president of Letko Brosseau and Associates, Transat’s largest shareholder, said restarting an airline is an expensive, time-consuming venture that must be done carefully to ensure profitability.

“I think the challenge for all airline executives now is moving back toward some normalcy as people get vaccinated and they start to reactivate their business,” Mr. Letko said by phone. “My hat’s off to them – this is a big challenge. Get your pilots ready, the equipment, all the support staff including those on board and the whole chain of people that supply an airline. It’s a huge job.”

Mr. Letko has for years pushed underperforming Transat to boost profits by charging more for airfares, while urging management to turn away takeover offers he sees as too cheap. In April, he dismissed as too cheap the takeover from Mr. Péladeau.

Link to comment
Share on other sites

Seems that TRZ is taking a different strategic direction than the one espoused under JME (pre-COVID).

Smaller company. Smaller fleet. Smaller profile. Based on an airline rather than a tour operator.

Will be interesting to see how this turns out. TRZ still needs to recapitalize the balance sheet. If not PKP then who?

Link to comment
Share on other sites

  • 2 weeks later...

Seems that they intend to go ahead with their July return to business. 

End of the discussions for the acquisition of Transat

2016-transat_hor_rgb_1.png?w=1024 MONTRÉAL, June 21, 2021 /CNW Telbec/ – Transat A.T. Inc. (“Transat” or the “Corporation”) announces today that the ongoing discussions with Mr. Pierre Karl Péladeau concerning the potential acquisition of all of the shares of Transat through his company Gestion MTRHP inc. (“MTRHP”) have ended.

On April 7, 2021, Mr. Péladeau delivered to Transat a non-binding proposal contemplating a transaction pursuant to which MTRHP would acquire all of the shares of Transat for a consideration of $5.00 per share, payable in cash. Considering the current share price, the price offered no longer provides a reasonable basis to envision receiving the level of shareholder approval required in order to allow the transaction to proceed. Accordingly, MTRHP confirmed to the Corporation that it was withdrawing from the discussions.

In light of the foregoing, the work of the special committee charged of reviewing strategic alternatives will cease, and Transat intends to focus its efforts on the implementation of its strategic plan and on the upcoming restart of its operations and flights, on July 30.

As contemplated in its strategic plan, the outline of which was revealed publicly on June 10, Transat also intends to examine possibilities to optimize its financing structure, which could include the issuance of shares of its capital or bond financing on more favorable terms than those attached to a portion of the liquidities made available to Transat under the Large Employer Emergency Financing Facility (LEEFF).
  • Thanks 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share



×
×
  • Create New...