Air Transat adds AEGEAN Airlines to its virtual interlining platform

Montreal, July 20, 2022 – Air Transat, named World’s Best Leisure Airline in 2021 by Skytrax, is proud to announce that it is enhancing its exclusive virtual interlining service with the addition of AEGEAN, Greece’s largest airline, to its innovative connectair by Air Transat platform. This now means travellers can combine Air Transat and AEGEAN flights, making it easy for them to fly to or from 53 destinations in Europe and the Middle East, including Heraklion, Larnaca, Cairo, Mykonos, Thessaloniki and Tel Aviv.

“We are proud to be adding AEGEAN to our virtual interlining service and enhancing our air travel offering with some 50 very attractive destinations, the majority of which are in the Mediterranean Basin,” says Michèle Barre, Vice-President, Network, Revenue Management and Pricing, at Air Transat. “This collaboration not only improves connectivity between Canada and two high-demand markets – Europe and the Middle East – but also simplifies the travel experience for our customers. We carefully select our partners to ensure that they share our values and commitment to excellence, and AEGEAN is no exception.”

This addition brings the total number of partners accessible through the  connectair by Air Transat platform to nine and the number of additional destinations available in Europe, North Africa, the Middle East, Central and South America, and Canada to more than 300.

Connections are available through the search engine on airtransat.com and through some flight aggregators. The booking also includes an assistance service in case of flight delay or cancellation, ensuring that travellers arrive at their destination as quickly as possible.

To learn more about connectair by Air Transat, travellers are invited to visit airtransat.com or watch this short video.

About Air Transat

Founded in Montreal 35 years ago, Air Transat is a leading leisure travel brand. Voted World’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international and Canadian destinations, striving to serve its customers with enthusiasm and friendliness at every stage of their trip or stay, and emphasizing safety throughout. It is renewing its fleet with the greenest aircraft in their category as part of a commitment to a healthier environment, knowing that this is essential to its operations and the magnificent destinations it offers. Air Transat is a business unit of Transat A.T. Inc. (TSX: TRZ).

Recent distinctions and awards

  • Best Leisure Airline for the 12th consecutive year at the Agents’ Choice Awards presented by Baxter Travel Media
  • World’s Best Leisure Airline at the Skytrax World Airline Awards (¨2017, 2018, 2019 and 2021)
  • Named to Forbes World’s Best Employers list

About AEGEAN

AEGEAN, is a member of STAR ALLIANCE, the largest global airline alliance. The company’s 2022 summer network covers 138 destinations (domestic and international) to 44 countries, operated with a fleet of 64 aircraft, including the new Airbus 320neo and 321neo. The company has been honored, for the 10th consecutive year and 11th time in the last 12 years, with the 2021 Skytrax World Airline award, as the Best Regional Airline in Europe. AEGEAN, has recently received, a 4-star award from Skytrax (4-Star COVID 19 Arline Safety Rating), as it was certified that from the beginning of the pandemic and with the same commitment until today, is implementing the highest standards and best practices proposed by the World Health Organization, ICAO and IATA for the protection of passengers and crew.

Transat A.T. Inc. – Results for second quarter of 2022

Recovery confirmed with a sharp rise in volume

For the second quarter:

  • Revenues of $358.2 million
  • Adjusted operating loss1 of $51.0 million (operating loss of $87.5 million)
  • Adjusted net loss1 of $111.6 million (net loss of $98.3 million)

Financial position and financing:

  • Unrestricted liquity1 of $515.9 million as at April 30
  • Customer deposits of $494.2 million, representing 80% of pre-pandemic levels and a 60% increase over last quarter, reflecting the recovery in demand

Continuation of the strategic plan:

  • Rebuilding of the pre-pandemic network, with the opening of several routes and the implementation of codeshare agreements
  • Continued fleet renewal, with the expected delivery of two A321neoLRs during the third quarter and five more to come

MONTRÉAL, June 9, 2022 /CNW Telbec/ – Transat A.T. inc., a holiday travel reference worldwide, particularly as an air carrier under the Air Transat brand, announces its results for the second quarter ended April 30, 2022.

“When the effect of Omicron subsided at the end of February, operations and sales rebounded strongly, allowing us to end the quarter on a very encouraging note and generate revenues of $358 million for the period. We foresee a strong recovery and will continue to implement all the measures necessary to capitalize on it,” stated Annick Guérard, President and Chief Executive Officer of Transat.

“Sales are progressing in a very satisfactory manner for the summer. The cost of fuel rose sharply, without which we would have reported positive adjusted operating results in April. Nonetheless, we observe that consumers are ready to accept price hikes and we have implemented a fuel hedging program to protect us against significant increases during the summer.”

“For the longer term, we continue to implement our strategic plan. While continuing to receive new fuel-efficient aircraft to the fleet, we continue to develop our network by adding new destinations and connections, with or without code sharing. We also benefit from our employees’ strong support, including our pilots with whom we have entered into a three-year agreement, ensuring stability for the coming period,” concluded Ms. Guérard.

Second quarter highlights

Compared with 2021, revenues for the quarter ended April 30, 2022 were up $350.6 million, driven by the significant resumption of operations after the effect of Omicron subsided at the end of February. Revenue growth in the quarter was dampened by the sharp decline in demand and massive booking cancellations following the emergence of the Omicron variant during the first quarter and the new restrictive measures put in place by the federal government on December 15, 2021. As a result, the Corporation initially cancelled nearly 30% of flights scheduled from January to the end of February. In addition, at the beginning of February, the Corporation cancelled more winter season flights, thereby reducing total winter season capacity by approximately 22% of the initially deployed capacity.

Operations resulted in an operating loss of $87.5 million, comparable to the $86.5 million loss in 2021, as fuel prices surged 75.5% during the quarter, compared with 2021. Transat reported an adjusted operating loss1 of $51.0 million, identical to the 2021 result.

Net loss attributable to shareholders amounted to $98.3 million or $2.60 per share (diluted) compared with $69.6 million or $1.84 per share (diluted) for the corresponding quarter of last year. The net loss attributable to shareholders in 2022 was marked by a $7.4 million foreign exchange loss and partially offset by a $22.2 million gain on long-term debt modification related to the renegotiation of the unsecured financing – LEEFF. The net loss attributable to shareholders in 2021 was mitigated by a $29.8 million foreign exchange gain. Foreign exchange gains and losses resulted mainly from the exchange effect on lease liabilities related to aircraft, following the fluctuations of the dollar against the U.S. dollar. Excluding non-operating items, Transat reported an adjusted net loss1 of $111.6 million ($2.95 per share) for the second quarter of 2022, compared with $103.3 million ($2.74 per share) in 2021.

Financial position

As at April 30, 2022, cash and cash equivalents amounted to $511.2 million, compared with $346.1 million at the same date in 2021. In total, the available financing amounted to a maximum of $863.3 million, of which $858.6 million was drawn down, for unrestricted liquidity1 of $515.9 million.

Customer deposits for future travel stood at $494.2 million, representing 80% of pre-pandemic levels (as at April 30, 2019) and up 60% from last quarter, reflecting the strong recovery in demand.

In addition, management is pursuing discussions with all current lenders, in a spirit of continued collaboration, regarding amendments to the existing financing agreements in order to ensure greater financial flexibility to the Corporation.

Continuing the recovery and implementing the strategic plan

The recovery that was temporarily slowed down by the Omicron variant is now firmly entrenched and the Corporation continues to implement its strategic plan and take the necessary measures to make the most of the rebound in demand, both for the summer and in the longer term.

  • Rebuilding and developing the network with:
    • the reopening of most of the pre-pandemic network routes
    • codeshare agreements with WestJet (bookings now open) and Porter (opening scheduled for the fall)
    • new destinations (particularly Los Angeles and San Francisco)
    • new direct flights (such as Montréal-Amsterdam or Québec City-London)
    • improved network operations through the addition of connections on existing routes to and from Europe and the United States (such as Paris-San Francisco or London-Los Angeles with a stopover in Montréal)
    • numerous additional routes possible via the connectair by Air Transat platform through virtual interlining agreements with eight airline companies offering over 245 destinations in Europe, North Africa, the Middle East, Central and South America, and Canada

With all these initiatives, the Corporation will offer more than 1,200 itineraries (including 550 with Transat) in summer 2022, compared with about 500 in 2019

  • Receipt of two new A321neoLR aircraft during the summer and waiting for five on order which will allow the transformation and optimization of the fleet, bringing the number of aircraft of this type to 17
  • Continuing efforts to control costs and limit the use of cash
  • Introduction of a fuel hedging program to offset a potential further increase in prices during the summer
  • Entering into an agreement in May 2022 with the Air Line Pilots Association, International (ALPA), representing all of Transat’s pilots, extending the term of their current collective agreement by three years.

Outlook

Following the recent announcements regarding the easing of health measures and travel restrictions by various governments in Canada and other countries, the current situation is showing very encouraging signs in terms of bookings as the last-minute booking trend persists. After the low reached during the Omicron wave, load factors have largely improved in recent months, reaching 85% on flights from March to May for the south destinations program, the Corporation’s main market for the period, which bodes well for the summer peak season. Selling prices of bookings for the summer season have been steadily increasing since the start of spring across all our programs.

Across all our markets, the planned capacity for summer 2022 represents 89% of the 2019 capacity. For the transatlantic program, the Corporation’s main market for the summer season, the planned capacity in 2022 is 75% of the 2019 levels. In the sun destinations program, the Corporation’s planned capacity represents 98% of the 2019 levels. Moreover, the Corporation plans to increase its presence in the transborder market by quadrupling its capacity compared with 2019 by offering, among other things, new flights from Montréal to Los Angeles and San Francisco. Lastly, the Corporation also plans to increase its capacity by 5% in the domestic market compared with 2019.

Fuel prices, if they remain at the current level, are however creating strong pressure on our operating costs and profitability. As discussed above, the Corporation is making every effort to offset these effects and improve its performance.

It remains difficult at this time to forecast the evolution of the health and economic situation or its impact on bookings and future financial results with sufficient precision for the Corporation to present a more comprehensive outlook for the third quarter and summer of 2022.

About Transat

Founded in Montreal 35 years ago, Transat has grown to become a holiday travel reference worldwide, particularly as an air carrier under the Air Transat brand. Voted World’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international and Canadian destinations, striving to serve its customers with enthusiasm and friendliness at every stage of their trip or stay, and emphasizing safety throughout. Transat has been Travelife-certified since 2018, renewing its fleet with the greenest aircraft in their category as part of a commitment to a healthier environment, knowing that this is essential to the integrity of its operations and the magnificent destinations it serves.

Air Transat Partners with 4Ukraine.ca to Fly Displaced Ukrainians to Canada

MONTREAL, June 3, 2022 /CNW Telbec/ – Air Transat proudly announces its partnership with 4Ukraine.ca to help relocate Ukrainians displaced by war coming to Canada. Air Transat will be providing available seats to Ukrainian nationals on their flights operated from Paris and London mainly to Montréal or Toronto. 4Ukraine.ca will be covering taxes and airport charges. In addition to operating a donation-based airfare program, 4Ukraine.ca includes a rigorous vetting process, host family background checks, and job prospecting for Ukrainians relocating to Canada.

“We are thrilled to work with Air Transat on this initiative,” said 4Ukraine.ca co-founder and director, Anna Chif. “This partnership means the world to Ukrainians wanting to come to Canada. Air Transat’s offer, combined with our rigorous process and our private donations, provides a viable solution that ensures Ukrainians coming to Canada are safe and prepared to live here. The arrangement will give us access to a significant number of seats and allows us to exponentially increase the impact of our donations.”

Air Transat, who has already successfully helped several families fly to Canada, is eager to continue supporting humanitarian efforts in Ukraine. “It was important for us to support the relocation of Ukrainians with an organization that facilitates every step of the relocation process, with a focus on ensuring the safety of this vulnerable population that has already faced significant trauma,” said Transat President and Chief Executive Officer Annick Guérard.

This partnership complements the fundraising campaign launched by Transat in March amongst its employees and customers to assist SOS Children’s Villages, a long-time charitable partner that has rapidly scaled up its response in Ukraine to meet the critical needs of vulnerable children and families affected by the conflict. “By adding our partnership with 4Ukraine.ca to our support to SOS Children’s Villages, we are able to lend help to Ukrainians internally displaced in Ukraine, as well as those who have fled the country and wish to relocate to Canada.” Added Guérard.

To date, 4Ukraine.ca has raised over $65,000 in donations and secured a partnership with FlightHub for $100,000 worth of flights. To support families and make this offer available to more qualifying Ukrainians, Canadians can donate directly on the 4Ukraine.ca website. Employers looking to hire Ukrainians and individuals wishing to host Ukrainians can find information at 4Ukraine.ca.

About Air Transat

Founded in Montreal 35 years ago, Air Transat is a leading leisure travel brand. Voted World’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international and Canadian destinations, striving to serve its customers with enthusiasm and friendliness at every stage of their trip or stay, and emphasizing safety throughout. It is renewing its fleet with the greenest aircraft in their category as part of a commitment to a healthier environment, knowing that this is essential to its operations and the magnificent destinations it offers. Air Transat is a business unit of Transat A.T. Inc., a world-renowned holiday travel provider that has achieved Travelife certification in 2018 in recognition of its sustainability commitments (TSX: TRZ). 

About 4Ukraine.ca

4Ukraine.ca is a federally registered not-for-profit organization, on a mission to help 5,000+ displaced Ukrainians settle in Canada. 4Ukraine.ca operates through the highly popular online community CANADA – Host Ukrainians of 85,000+ people, helping with job placement, airfare costs and background checks on host families.

Canadian Airlines Must Follow Air Canada’s Example and Pay Airline Workers for Time Worked: CUPE

May 20, 2022

VANCOUVER, British Columbia–(BUSINESS WIRE)–CUPE’s Airline Division, which represents 15,000 flight attendants at nine Canadian airlines, says other major carriers like WestJet, Air Transat and Sunwing must follow the example set by Air Canada earlier this week, and pay flight attendants for time spent on the ground during delays at Pearson Airport.

“Our members are working just as hard on the ground to keep passengers safe and comfortable as they are in the air, and deserve to be paid-in-full for every minute they’re at work in uniform”

“We were happy to get an agreement this week to ensure an hour worked is an hour paid for our members at Air Canada and Air Canada Rouge,” said Wesley Lesosky, president of CUPE’s Airline Division and also president of CUPE’s Air Canada Component. “This is what can happen when the union and the employer come together: we can find solutions that benefit everybody.”

While policies differ from airline to airline, generally speaking, flight attendants are paid significantly less – or not at all – for their time on the ground. The issue has boiled over in recent months, as understaffing at Canadian airports has led to delays of two to three hours during the security screening and deplaning processes.

“Our members are working just as hard on the ground to keep passengers safe and comfortable as they are in the air, and deserve to be paid-in-full for every minute they’re at work in uniform,” said Rena Kisfalvi, secretary-treasurer of CUPE’s Airline Division and president of CUPE 4055, which represents flight attendants at Sunwing.

CUPE has been raising the issue of flight attendants essentially working for free even as they perform work duties in uniform on the ground.

“Air Canada has stepped up,” said Lesosky. “Now, it’s time for the other carriers to follow suit.”