Category: Air Transat
The airline adds the A321neo LR to its fleet and Split, Croatia to its destinations
MONTREAL, Oct. 4, 2018 /CNW Telbec/ – Air Transat, named the 2018 World’s Best Leisure Airline, is making it easy for Canadians to discover Europe next summer. The airline is adding Split, Croatia, to its destinations and increasing its direct flights for many of its main transatlantic markets, namely, Italy, Greece, Croatia, France and Portugal. With 27 destinations in Europe and the Middle East accessible from six airports in Canada via connecting flights, Air Transat makes planning a dream vacation a breeze for Canadians. Moreover, as of summer 2019, passengers heading to destinations such as Nice, Porto and Basel will fly in one of two new Airbus A321neo LR airplanes being added to its fleet.
“Our fleet’s transition period that started last winter is continuing. Summer 2019 will mark the arrival of two new Airbus A321neo LR airplanes, benefitting our flexibility and efficiency,” says Annick Guérard, Chief Operating Officer at Transat. “We’re adding Split in response to Croatia’ssoaring popularity as a tourist destination, while maintaining our position as a leader in many of our key markets, including the Mediterranean region,” she explains.
“While Europe is a huge part of our summer activities, as Canada’s number one holiday airline, we always make sure to offer a wide variety of destinations to our passengers. And that means maintaining our flights to some 20 South destinations, because people love the beaches of Mexico and the Dominican Republic even in the summer,” Annick Guérard concludes.
A new destination and a bigger footprint in key markets
Given Canadians’ growing interest in the Balkan Peninsula, Air Transat is pleased to be adding Split to its destinations. With its two flights to Zagreb, that makes three direct flights to Croatiaevery week from Toronto. There will be more direct flights to Greece and Italy, for a total of four weekly flights to Athens (Greece) from Montreal and Toronto. Lamezia (Italy), the gateway to the South of Italy, will be accessible twice a week from Toronto. The airline is increasing its departures to a number of other destinations as well: from Montreal, there will be three flights to Porto(Portugal), three to Nice (France) and two to Basel (Switzerland). Meanwhile, there will be five weekly flights to Dublin (Ireland) from Toronto.
The United Kingdom, France and the Mediterranean in demand
By flying direct every week from four Canadian cities, the airline makes London (England) accessible to vacationers with departures from Toronto (daily), Vancouver (daily), Montreal (three times a week) and Calgary (three times a week). Vacationers looking to discover other areas of the UK can count on five direct flights weekly to Manchester and Glasgow from Toronto, as well as connecting flights from Montreal, Vancouver, Quebec City, Calgary and Edmonton.
Air Transat, the leading airline between Canada and France, remains the benchmark for leisure travel in France. This year, Air Transat is once again offering direct flights from Montreal to the biggest cities in France, that is, Paris (daily direct flights), Marseille (five direct flights weekly), Lyonand Toulouse (four direct flights weekly), as well as Nice, Nantes and Bordeaux (three direct flights weekly). And with its vast network of connecting flights, Air Transat makes most of these destinations available to people in and around Quebec City, Vancouver, Toronto and Calgary.
Furthermore, Air Transat is set to offer passengers a new product combining air and rail travel, in partnership with SNCF, France’s national rail service. The airline’s customers will be able to purchase a single ticket comprising a flight to Paris plus TGV AIR service enabling them to complete their journey on the TGV high-speed rail network within France or to Brussels, Belgium, thus facilitating access to French provinces and Brussels on a daily basis. Air Transat and SNCF promise a simple service delivering several benefits: a single booking, a single fare and a single ticket. It will be available as of January 2019, and travellers will be able to book from Canadastarting in December.
The Mediterranean region, with its idyllic turquoise waters, is vital to the airline’s flight program. First, there’s Spain, which remains an undeniable draw thanks to its dream combination of scenic beaches and captivating culture. Air Transat will continue its direct flights from Montreal to Barcelona (five direct flights weekly) and Malaga (three direct flights weekly) as well as from Toronto, with three direct flights weekly to Barcelona. These Spanish destinations remain accessible to people in the Quebec City, Vancouver, Calgary and Edmonton areas via Air Transat’s network of connecting flights. Finally, getting to Lisbon (Portugal) will be as easy as ever with five direct flights weekly from Montreal and four from Toronto.
Rome remains accessible too, with five direct flights from Montreal and seven from Toronto. The Italian capital will be easily reachable for travellers from Vancouver, Calgary and Edmonton via connecting flights through Toronto.
Tel Aviv, Prague, Brussels and Amsterdam: passenger favourites
Air Transat flies direct to Tel Aviv from Montreal twice a week and from Toronto once a week with a connecting flight. Brussels, the Belgian capital, is accessible from Montreal with three direct flights weekly, and from Toronto, Vancouver and Calgary with connecting flights.
The airline offers Canadians seven direct flights to Amsterdam, including four from Toronto, two from Vancouver and one from Calgary, along with two direct flights to Prague from Montreal.
Canada year round
For the past five years, Air Transat has been expanding its domestic flights, linking the country’s major cities. “These flights give an increasing number of Canadians access to more European destinations than ever, with connecting flights to Toronto and Montreal, as well as give access to other Canadian cities,” explains Annick Guérard.
It’s also worth noting Air Transat is launching a new summer flight between Edmonton and Toronto, opening the door to European travel to people in northern Alberta.
MONTREAL, Sept. 28, 2018 /CNW Telbec/ – Air Transat, named the 2018 World’s Best Leisure Airline, is pleased to announce it will be adding Split, Croatia, to its transatlantic flight program. Starting in the summer of 2019, the airline will offer a weekly direct flight to this city, known for its picturesque beaches on the Adriatic Sea.
“Tourism has seen incredible growth in the Balkan Peninsula, which many now rank among the top European destinations,” explains Annick Guérard, Chief Operating Officer at Transat. “We’ve seen great interest in Croatia since we started flying there in 2016. That’s why Air Transat is proud to be meeting this demand even better by upping its offer to three direct flights from Toronto, including two to Zagreb,” she adds. “And thanks to our connecting flights from Montreal and Vancouver, more travellers can now discover Croatia’s second-largest city.”
“Split will amaze Canadian travellers eager for something new,” explains Gari Cappelli, Minister of Tourism of Croatia. “Not only does it boast a rich heritage, with a UNESCO‑declared historic centre that dates back to the Roman Empire, but its location makes it the perfect gateway to the islands of the Adriatic Sea and Eastern Europe.”
Travellers will be able to start booking flights to Split shortly. Details on Air Transat’s flight program for summer 2019 will soon be announced.
Montreal, September 25, 2018 — Air Transat, named the 2018 World’s Best Leisure Airline at the Skytrax World Airline Awards, is standardizing its Eco Fares for its transatlantic, South, Canadian and US destinations. In order to align its flexibility conditions with those of the airline industry, Air Transat has revised its lowest‑priced fare, Eco Budget, which will no longer include a free checked bag or the possibility to make changes or cancellations. Passengers booking an Eco Budget as of October 2, 2018, for flights as of April 1, 2019, will be charged a fee for their first piece of checked baggage of 23 kg (for Europe) or 30 kg (for Israel).
New Eco Fare conditions
The Eco Fares are a family of fares that allow, among other things, the flexibility to change or cancel a flight for free or for a nominal fee. They’re designed so passengers will only pay for the services they actually need. Below is an overview of the new Eco Fare conditions.
The lowest fare
The best value
The fare with the most flexibility
With the revised baggage policy, passengers save when they prepay
Travellers can now save up to 20% on airport check-in fees by paying in advance online. Below are the revised baggage fees based on destination and time of payment.
|Flight-only baggage fees||First bag||Second bag|
|Prepaid||At the airport|
|Europe and Israel||23 kg
(30 kg for Israel)
(30 kg for Israel)
(30 kg for Israel)
|Flight-only baggage fees||First bag||Second bag|
|Prepaid||At the airport||Prepaid||At the airport|
|South, US and flights within Canada||23 kg
All of the details on the revised Eco Fares are available here.
Greater comfort thanks to Club Class and Option Plus
While the Eco Fares include the flexibility for passengers to change or cancel their flight, other options exist to provide the best on-board experience possible. Air Transat’s Club Class combines exceptional personalized service with flexibility. It continues to offer passengers a most pleasant and comfortable inflight experience, in addition to complimentary seat selection, a generous checked baggage allowance, more space on board, as well as priority check-in, boarding and baggage handling. As for Club Class passengers, many perks await them on board, such as an exclusive Comfort Kit, a welcome cocktail, a wide selection of quality wines, beverages and snacks, as well as delicious meals, including the gourmet dishes from the Chef’s Menu by Daniel Vézina.
And lastly, passengers who opt for Option Plus will be treated to more benefits in Economy Class, such as a first checked bag free of charge, seat selection, priority check-in at a dedicated counter, priority boarding and baggage handling, as well as special on-board perks for optimal comfort.
MONTREAL, Sept. 24, 2018 /CNW Telbec/ – Air Transat, named the World’s Best Leisure Airline at the 2018 Skytrax World Airline Awards, is set to offer passengers a new product combining air and rail travel, in partnership with SNCF, France’s national rail service. The airline’s customers will be able to purchase a single ticket comprising a flight to Paris plus TGV AIR service enabling them to complete their journey on the TGV high-speed rail network within France or to Brussels, Belgium.
Air Transat and SNCF promise a simple service delivering several benefits: a single booking, a single fare and a single ticket. It will be available as of January 2019, and travellers will be able to book from Canada starting in December.
“We are the leading air carrier connecting Canada and France in summer, with our direct flights to eight French cities,” says Annick Guérard, Chief Operating Officer, Transat. “With TGV AIR, we want to make life easier for travellers and broaden their horizons year-round, making it easy for families, friends and holidayers to get where they want to go in France or Belgium, experiencing new destinations and reaching them faster. We are pleased to be the first airline in mainland North America to offer this service in partnership with SNCF. TGV AIR is the perfect complement to our range of direct flights to France and Belgium,” she adds.
Rémi Habfast, Voyages SNCF’s Commercial Director for TGV NORD, says: “With this new TGV AIR partnership with Air Transat, we are making high-speed rail service departing from and arriving at Paris–Charles de Gaulle station available to even more customers. SNCF is known all over the world for its TGV, its reliability and its quality service. This agreement also strengthens SNCF’s presence and visibility outside France.”
From the Paris-CDG 2 TGV station at Paris–Charles de Gaulle airport, served by Air Transat’s direct flights out of Montreal (daily), Quebec City, Toronto and Vancouver, TGV AIR service will connect passengers with 19 cities in France as well as Brussels. Depending on their departure date, travellers will be able to enjoy TGV AIR service year-round or take advantage of the carrier’s direct flights to and from France and Belgium.
Christophe Pouille, head of the TGV AIR product at Voyages SNCF, is delighted that “Air Transat passengers flying from Canada will now benefit from direct access to the TGV AIR network with a single ticket combining air and train travel. This partnership will provide yet more ways for travellers to reach their final destination, and ensure that international customers can explore France’s many regions.”
17 September 2018 MONTREAL — Transat has issued a clarification of a report by The Canadian Press that said the company has pledged to raise prices next summer following a spike in fuel costs.
Published on Sept. 13, the report “mistakenly gave the impression that Transat had voluntarily decided not to increase prices during the summer of 2018 in response to a rise in fuel costs” while its competitors did raise prices for that very reason.
The Canadian Press also reported that Chief Operating Officer Annick Guérard said the company “opted not to join” competitors in raising prices. But according to the transcript of Transat’s Third Quarter 2018 conference call, Guérard, in fact, said: “We haven’t been able to see any increase on pricing for the summer.”
According to an official statement by Transat, the plan to increase pricing next summer should not have been construed as a “vow” or a “pledge”. Rather, the move to raise prices is not only voluntary, but also an adaptation to competitive conditions.
The CP article went onto imply that Transat has kept prices low in a market that “climbed 28% overall in Canada in the first half of 2018.”
This, said Transat, was misleading, as it did not see any significant increase in prices on its routes, and has said as much in its investor-relations communications.
“If prices have indeed increased by 28%, this no doubt reflects price changes in markets in which Transat is not active, and/or in fare classes specific to competitors (ie. First Class, Business Class) and not Transat,” the company wrote.
Moreover, the 28% figure was drawn from a Statistics Canada table of the non-seasonally-adjusted monthly Consumer Price Index (CPI). The table is accompanies by a disclaimer, which states: “Users are reminded that the methodology for the air transportation index was updated in March 2018 as part of the regular review of the CPI methodology. Interpretation of the 12-month price change indicator should be made with caution, particularly in the year following the implementation of the new methodology.”
Friday, September 14, 2018 |By: The Canadian Press
MONTREAL — Transat AT Inc. executives have pledged to raise prices next summer after a spike in fuel costs sent the carrier on course to its least profitable third quarter in a decade.
Jet fuel surged to a three-and-half-year high of US$2.15 per gallon south of the border last May, according to the U.S. Energy Information Administration. In Canada, a 25-per-cent increase in the price of gasoline drove an even steeper rise in average airfares over the past year.
“The fuel increases happened very suddenly in a short time period. In those circumstances, often we are not able to pass those increases to consumers,” said chief operating officer Annick Guerard in a conference call with analysts Thursday.
The number of travellers in the transatlantic market increased 11.5 per cent in the third quarter – which spans the high summer season – alongside 13.9 per cent capacity growth, but not enough to offset losses from fuel costs, noted chief financial officer Denis Petrin.
“Next summer, we can all anticipate that the pricing will include the price of fuel as it is today. We have no doubt about this,” he said.
Guerard said the Montreal-based company opted not to join Air Canada and WestJet Airlines Ltd. in jacking up prices, which climbed 28 per cent overall in Canada in the first half of 2018 compared to the same period last year, according to TD Economics senior economist James Marple.
“We are different beasts,” Guerard said.
Transat’s share price plummeted nearly 13 per cent to $7.71 in early trading Thursday before rebounding to $8.25 when markets closed.
Transat president and chief executive Jean-Marc Eustache expressed enthusiasm about the travel company’s long-term outlook, but remained cool on near-term prospects.
“We are still confident that we will meet our long-term targets, while Air Transat was just named the world’s best leisure airline by Skytrax,” Eustache said, adding that the company has opened its hotel division headquarters in Miami.
“We think that in the winter, the best thing that we will do will be around break-even,” he later told investors.
Karl Moore, an associate professor at McGill University’s business school, said delayed fare bumps correspond to “a kind of lag effect – they’re hopeful that they’ll be able to catch up with those fuel prices next year.”
Heightened competition from a more crowded market – which includes WestJet’s ultra-low-cost Swoop, Air Canada’s discount Rouge and Iceland’s Wow Air – “puts the squeeze” on Air Transat.
On Thursday, Transat reported a loss of $4.0 million or 11 cents per diluted share for the third quarter, compared with a profit of $26.6 million or 72 cents per share in the same quarter last year.
Excluding non-operating items, the company reported an adjusted loss of $3.0 million or eight cents per share for the quarter compared with an adjusted profit of $26.9 million or 73 cents per share a year ago – which had blown past analyst expectations by more than half.
The latest earnings report came in far below analyst expectations of $15.34 million in net income or 31 cents per share, according to Thomson Reuters Eikon.
Revenues totalled $696.6 million, down five per cent from $733.2 million in the same quarter in 2017 when its results included $77.0 million from its Jonview subsidiary, which was sold last November.
The number of travellers was up 7.9 per cent in the sun destinations market while capacity rose 7.0 per cent, Transat said.
Guerard said Transat might be still consider partnering with a loyalty program after Aimia Inc. – with which Transat had signed a partnership agreement along with Flair Airlines and Porter Airlines – reached a tentative $450-million deal to sell Aeroplan to an Air Canada-led consortium.
“We are in discussion with different partners. But such a program would have to be very simple with a big return on investment for us to get in,” Guerard said.
She stressed that Transat would be “very careful” about entering into a deal where reward points might not be “so valuable for our type of consumers, who are a leisure traveller.”
Senior management also put a focus on ancillary revenue sources such as seat selection, travel insurance and buy-on-board products, with the goal of going from $94 million in 2017 to $150 million by 2022.
Increase in the number of travellers but margins affected by fuel prices
For the third quarter:
- Revenues of $696.6 million ($733.2 million in 2017).
- Operating loss of $8.0 million (operating income of $41.0 million).
- Adjusted operating income1 of $5.1 million ($59.1 million).
- Net loss attributable to shareholders of $4.0 million (net income attributable to shareholders of $26.6 million).
- Adjusted net loss3 of $3.0 million (adjusted net income3 of $26.9 million).
For the nine-month period:
- Revenues of $2.3 billion ($2.3 billion in 2017).
- Operating loss of $62.5 million ($24.8 million).
- Adjusted operating loss1 of $19.4 million (adjusted operating income1 of $23.5 million)
- Net loss attributable to shareholders of $3.9 million ($13.8 million).
- Adjusted net loss3 of $41.4 million ($17.3 million).
- Sale of the subsidiary Jonview Canada Inc. for $48.9 million on November 30, 2017.
MONTRÉAL, Sept. 13, 2018 /CNW Telbec/ – Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada’s holiday travel leader, announces its results for the third quarter ended July 31, 2018.
“Like most of our competitors, we’re affected by rising fuel prices, which impacted our summer results as we had forecasted in mid-June. Prices always take a certain time to adjust. We are still confident that we will meet our long-term targets, while Air Transat was just named the world’s best leisure airline by Skytrax,” stated Jean-Marc Eustache, President and Chief Executive Officer of Transat.
“During the quarter, we opened our hotel division’s headquarters in Miami and identified attractive opportunities, some of which should materialize soon.”
Third Quarter Highlights
The Corporation posted revenues of $696.6 million, compared with $733.2 million in 2017, a decrease of $36.6 million or 5.0%. The 2017 revenues included $77.0 million from the Jonview subsidiary, which was sold last November. The number of travellers was up 11.5% in the transatlantic market, our main market for the period, while capacity increased by 13.9%. The number of travellers was up 7.9% in the sun destinations market while capacity rose 7.0%. Average selling prices were similar to those of 2017 across all of our markets.
Operations generated adjusted operating income1 of $5.1 million compared with $59.1 million in 2017. The $53.9 million decrease was primarily due to a rise in fuel prices which, combined with the foreign exchange effect, increased operating expenses by $40.3 million. Moreover, adjusted operating income1 for the third quarter of 2017 included $7.1 million from the operations of businesses sold since then.
On a comparable basis, excluding the businesses sold recently (Ocean Hotels and Jonview), adjusted operating income1 decreased by $46.8 millioncompared with the previous year.
Net loss attributable to shareholders amounted to $4.0 million or $0.11 per share (diluted) compared with a net income of $26.6 million or $0.72 per share (diluted) in 2017. Excluding non-operating items, Transat reported an adjusted net loss3 of $3.0 million ($0.08 per share) for the third quarter of 2018, compared with an adjusted net income3 of $26.9 million ($0.73 per share) in 2017.
Nine-month Period Highlights
The Corporation recognized revenues of $2.3 billion, up 0.8% from 2017. During the winter season, the number of travellers increased by 5.4% in the sun destinations market, our main market for the period. Average selling prices slightly rose across all of our markets. During the third quarter, the number of travellers was up 11.5% in the transatlantic market, the Corporation’s main market for the period, and average selling prices remained similar to those of 2017 across all of our markets. These revenue increases offset the loss of revenue from the Jonview subsidiary sold in November 2017.
Operations resulted in an adjusted operating loss1 of $19.4 million compared with an adjusted operating income1 of $23.5 million in 2017, a decrease of $42.9 million. During the winter season, adjusted operating income1 improved by $11.0 million. For the third quarter, the decrease in our adjusted operating income1 was mainly attributable to a rise in fuel prices which, combined with the foreign exchange effect, increased operating expenses by $40.3 million. Moreover, adjusted operating income1 for the third quarter of 2017 included $7.1 million from the operations of businesses sold recently.
On a comparable basis, excluding the businesses sold recently (Ocean Hotels and Jonview), adjusted operating income1 decreased by $30.2 millioncompared with the previous year.
For the nine-month period, net loss attributable to shareholders was $3.9 million or $0.11 per share (basic and diluted) compared with $13.8 million or $0.37 per share (diluted) for the corresponding nine-month period of 2017. Excluding non-operating items, Transat reported an adjusted net loss3 of $41.4 million ($1.11 per share) for the period ended July 31, 2018, compared with $17.3 million ($0.47 per share) in 2017.
Sale of Jonview Canada Inc.
On November 30, 2017, the Corporation completed the sale of its subsidiary Jonview, which has an incoming tour operator business in Canada, to Japanese multinational H.I.S. Co. Ltd., which specializes in travel distribution. The selling price was $48.9 million, and the Corporation recognized a gain on business disposal of $31.3 million.
As at July 31, 2018, cash and cash equivalents amounted to $867.2 million, compared with $580.7 million on the same date in 2017. The increase of $286.5 million was primarily due to the proceeds from the disposal of Ocean Hotels and Jonview as well as to positive cash flows generated by operations. The working capital ratio was 1.40, compared with 1.26 as at July 31, 2017. Deposits from customers for future travel amounted to $561.8 million, compared with $509.9 million as at July 31, 2017, an increase of $51.8 million attributable to higher business volume.
Off-balance-sheet agreements, excluding contracts with service providers, amounted to $2,368.5 million as at July 31, 2018, compared with $1,745.2 million as at October 31, 2017. The $623.2 million increase resulted primarily from the agreements signed during the quarter to lease two Airbus A321neos and five Airbus A321neo LRs, for delivery from 2020 to 2022, which will notably replace the wide-body Airbus A330s whose leases will expire during that period. Moreover, during the first quarter, the Corporation entered into agreements to lease two Airbus A321ceos and two Airbus A330s. The increase resulting from these new agreements was partially offset by the repayments made during the period.
Fourth quarter 2018 – The transatlantic market outbound from Canada and Europe accounts for a substantial portion of Transat’s business during the summer season. For the period from August to October 2018, the Corporation’s capacity is higher by 14%. To date, 84% of the capacity has been sold, load factors are 1.1% higher than those of summer 2017 and selling prices of bookings taken are 2.7% lower than those recorded at the same date in 2017. Higher fuel costs, combined with currency variations, will result in a 7.3% increase in operating costs if aircraft fuel prices remain stable and the dollar remains at its current level against the U.S. dollar, the euro and the pound. It should be noted that the price of aircraft fuel increased by 11% between the beginning of April and mid-June.
In the sun destinations market, for which summer is low season, 75% of the capacity marketed has been sold. To date, unit margins are 7.2% lower than those recorded in 2017, considering the impact of higher fuel prices.
Accordingly, and considering the recent significant increase in aircraft fuel costs, the Corporation expects that its overall results for the fourth quarter will be lower than last year.
Winter 2019 – In the sun destinations market, the Corporation’s main market for the period, Transat’s capacity is higher by 3% than the previous year. To date, 25% of that capacity has been sold and load factors are ahead by 2.7% when compared to 2018. The impact of increased fuel costs, combined with fluctuations in the Canadian dollar, will result in a 3.4% increase in operating expenses if aircraft fuel prices and the dollar against the U.S. dollar remain stable.
The Corporation considers that it is still too early to give any guidance regarding winter season results, especially since comparisons have to be made with a period of 2017 before the hurricanes, which had a significant impact on the rest of the season.
Progress on strategic plan
The Corporation made significant progress on implementing the 2018-2022 strategic plan, but these actions had little impact on the current year. The plan has two primary aims: operational improvement of existing businesses and the launch of a hotel business.
For existing businesses, numerous changes were made to prepare for the coming years.
- Revenue management, pricing and network planning activities are expected to be fully reconfigured during the year, which will allow for greater fine-tuning of revenue management per flight and margin optimization;
- Longer-term network management is also being put in place to operate the Corporation’s new Airbus fleet, which will be deployed between 2019 and 2022 and will reduce operating costs and increase route density;
- Expansion of our online presence continues, which earned us the Flèche d’or for the best customer experience in the tourism, leisure and entertainment category;
- Cost reduction and margin improvement initiatives continue and should achieve their $150 million target for the plan as a whole;
- Efforts to improve customer satisfaction have been rewarded by the recognition of Air Transat as the world’s best leisure airline by Skytrax.
The newly launched hotel division also saw much progress this year, with the recruitment of its President, the opening of its Miami headquarters, and intense search for land and/or hotel acquisitions, which should enable the Corporation to close transactions in the near future.
The results were affected by non-operating items, as summarized in the following table:
|Highlights and Impact of Non-operating Items on Results|
|(in thousands of C$)|
|Third quarter||First nine months|
|Operating income (loss)||(7,994)||40,952||(62,536)||(24,780)|
|Depreciation and amortization||13,215||18,077||43,294||49,435|
|Premiums related to derivatives matured during the period||(130)||(1,324)||(130)||(2,521)|
|Adjusted operating income (loss)1||5,091||59,055||(19,372)||23,484|
|Income (loss) before taxes||(4,754)||37,731||(10,621)||(18,996)|
|Fuel-related derivatives and other derivatives||1,512||341||(9,069)||(3,533)|
|Gain on business disposals||—||—||(31,064)||—|
|Premiums related to derivatives matured during the period||(130)||(1,324)||(130)||(2,521)|
|Adjusted pre-tax income (loss)2||(3,372)||38,098||(50,884)||(23,700)|
|Net income (loss) attributable to shareholders||(4,038)||26,588||(3,943)||(13,839)|
|Fuel-related derivatives and other derivatives||1,107||250||(6,668)||(2,586)|
|Gain on business disposals||—||—||(30,736)||—|
|Premiums related to derivatives matured during the period||(95)||(969)||(95)||(1,845)|
|Adjusted net income (loss)3||(3,026)||26,857||(41,442)||(17,282)|
|Diluted income (loss) per share||(0.11)||0.72||(0.11)||(0.37)|
|Fuel-related derivatives and other derivatives||0.03||0.01||(0.18)||(0.07)|
|Gain on business disposals||—||—||(0.82)||—|
|Premiums related to derivatives matured during the period||—||(0.03)||—||(0.05)|
|Adjusted net income (loss) per share3||(0.08)||0.73||(1.11)||(0.47)|
Hedging – The Corporation records in the statement of income any gains or losses resulting from mark-to-market adjustments of the derivative financial instruments used to manage aircraft fuel-price risk, as well any gains or losses resulting from mark-to-market adjustments of certain hedging instruments used to mitigate exchange rate exposure. In the third quarter of 2018, this resulted in a $1.5 million non-cash loss ($1.1 million after income taxes), compared with $0.3 million ($0.3 million after income taxes) in 2017. For the nine-month period, this resulted in a $9.1 million non-cash gain ($6.7 million after income taxes), compared with $3.5 million ($2.6 million after income taxes) in 2017.
The Corporation uses hedging instruments to mitigate exchange rate exposure arising from its expenses and/or revenues in foreign currencies. Accordingly, under applicable accounting standards, any fluctuations resulting from the effective portion of mark-to-market adjustments of these instruments are recorded in the consolidated statement of financial position and consolidated statement of comprehensive income (loss) rather than in the consolidated statement of income (loss). For the third quarter of 2018, Transat recorded a loss of $2.8 million ($2.0 million after income taxes) on these foreign exchange derivatives, compared with $23.8 million ($17.4 million after income taxes) in 2017. For the nine-month period, Transat recorded a loss of $3.9 million ($2.9 million after income taxes) on these foreign exchange derivatives, compared with $18.1 million ($13.2 million after income taxes) in 2017.
MONTREAL, Sept. 12, 2018 /CNW Telbec/ – Air Transat, named the 2018 World’s Best Leisure Airline at the Skytrax World Airline Awards, presents its future experts in an all‑new web series.
The three webisodes posted today take viewers into Air Transat’s hangar, where we meet young children eager to share their knowledge of aviation with Raymond, Certified Aircraft Mechanic Technician at Air Transat. How fast can an airplane fly? How many passengers can travel on our airplane? How much does an airplane cost? The videos, created with agency Sid Lee, spotlight the future experts’ priceless reactions as a playful way to reveal some fun facts on the aviation industry.
“This series builds on our most recent content initiatives. In our ‘vacation experts’ series, employees tell us what they love best about their favourite destinations, providing recommendations from seasoned travellers to inspire people everywhere as they plan their South and Europe holidays,” explains Geneviève LeBrun, Vice-President of Marketing at Transat. “With our ‘future experts,’ we talk aviation, a topic many people are curious about, while also reaffirming our role as family travel specialists. It’s worth noting that our future experts are all children of Transat employees, showing that passion for travel runs in the family.”
Air Transat makes travel easier for families, with benefits including direct flights, convenient departure times, attentive staff, exclusive check-in counters and priority boarding for families with young children. What’s more, Air Transat’s Kids Club welcomes all mini-globetrotters aged 2 to 11 for free, offering a membership kit filled with travel goodies, standard seat selection for the departure and return flights, on‑board surprises, and more.
WordAirlineNews – 29 August 2018
Flair Airlines has announced that, after doubling its summer flying, the privately-held Flair Airlines surpassed load factor projections.
“It’s been a delightfully busy summer for us” stated David Tait, Flair’s Executive Chairman. “Since mid June – when we more than doubled our capacity and expanded our network to 10 cities from Victoria to Halifax – our fleet of seven aircraft has carried more than a quarter million passengers and we’re currently enjoying load factors in excess of 90%.”
Having led the way as the nation’s first low fare airline, among other initiatives, Flair is working closely with Edmonton’s community at large to firmly establish its position asthe city’s‘hometown airline.’Already,some 75% of the airline’s flights go through Edmonton International Airport EIA.Throughout the coming months, Flair will continue to relocate staff to its new HQ building at EIA, as well as hire for new positions from the local labor pool.
Tait added that, “As one of the founders of Virgin Atlantic Airways, I’ve played the David versus Goliath role before – and won! The tenacity of the Flair team, their spirit and determination to ensure that air travel becomes an affordable reality for all Canadians is really quite remarkable. I am truly proud to be of a part of this dynamic team, and, as Yogi Berra would have said, “It’s déjà vu all over again.”
Flair recently announced low fare service (starting in December) out of Edmonton, Winnipeg and Toronto (YYZ), to Palm Springs,Phoenix/Mesa, Las Vegas, Miami, Orlando and St. Pete/Clearwater.
Tait added that, “Going forward, our robust fleet expansion plans should see up to 20 newer, more fuel efficient and longer-range aircraftby the end of 2020. The first additions will start arriving in early 2019 as our current aircraft are rapidly phased out.”
Flair is intending to phase out its older Boeing 737-400s.
In other news, Flair will lease Boeing 737-800s from Air Transat to support its expansion.