Air Transat

Air Transat now services Marseille year-round and extends flights to Nantes

Canadian Aviation News
  • Following the announcement earlier this winter that it will soon service Lyon all year, the airline is also adding Marseille to its roster of year-round destinations
  • Additionally, it is extending its Montreal-Nantes service until January
  • Air Transat is thus solidifying its title as the leading carrier between Quebec and France thanks to these two exclusive routes

MONTREAL, April 12, 2023 /CNW/ – Air Transat is proud to announce that, for the second time this year, it is expanding its operations in the French market, most notably on two exclusive direct routes departing from Montreal. Following the annualization of its service to Lyon announced earlier this winter, the airline is also adding Marseille and the region of Provence to its roster of year-round destinations. In addition, the non-stop service to Nantes will also be extended. Flights that initially ended in the fall will now be operated until 24 January, 2024, in order to offer travellers more flexibility when travelling to western France.

“Annualizing key routes of our flight network is at the core of our strategy, which is facilitated by the agility of our Airbus A321LR fleet. In the fall of 2022, we extended our service to Marseille until the end of the year for the very first time. Given the success of this initiative, we are delighted to repeat the experience, this time to Nantes,” says Michèle Barre, Air Transat’s Chief Revenue Officer. “The demand for the French provinces is skyrocketing; as the leading carrier between Quebec and France, we are happy to offer our world-class in-flight experience to an expanding clientele.”

Air Transat is the only airline to offer direct flights from Canada to the airports of Marseille and Nantes. A total of seven French cities will be served non-stop this year, including three on a year-round schedule, namely Paris, Lyon, and now Marseille.

“We are thankful for Air Transat’s confidence in Marseille-Provence, France’s second largest regional airport,” said Julien Boullay, Sales and Marketing Director at Aéroport Marseille-Provence. “The annualization of the Montreal-Marseille route is the result of a dynamic market that is increasingly less seasonal, driven by a solid leisure passenger base keen on direct long-haul flights – of which Montreal has always been one of the leading destinations. And with 300 days of sunshine a year, there is no doubt that Provence will also be very popular with Canadian travellers in the wintertime.”

“Montreal is the longest-running international destination for our airport. These 20 years of operation have enabled us to build significant economic and cultural exchanges between Western France and Canada,” says Xavier Lortat-Jacob, Chairman and CEO of Nantes Atlantique Airport – VINCI Airports. “Travellers on both sides of the pond will now be able to meet up more often this year thanks to the trust and commitment of Air Transat. We are pleased to strengthen the connectivity of our territory and its overseas influence.”

The route will mainly be operated with new generation Airbus A321LR aircraft featuring spacious cabins, state-of-the-art in-seat entertainment systems and the lowest fuel consumption and greenhouse gas emissions (CO2 and NOx) in their class.

About Air Transat

Founded in Montreal 35 years ago, Air Transat is a leading leisure travel brand. Voted North America’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international, transborder and Canadian destinations. 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). To find out more, visit airtransat.com.

Premium Kids at YUL: A 9th Successful Edition

Canadian Aviation News

MONTRÉAL, April 2, 2023 /CNW/ – The ninth edition of the Premium Kids event, organized by ADM Aéroports de Montréal in partnership with Air Transat, took place at YUL Montréal-Trudeau International Airport today amidst good cheer, much laughter and many smiles. This unique day enables children with autism spectrum disorder (ASD) or functional limitations to familiarize themselves with the airport process and reduce their anxiety about flying.

Premium Kids 2023 (CNW Group/Aéroports de Montréal)
Premium Kids 2023 (CNW Group/Aéroports de Montréal)

This year, nearly 200 participants experienced the complete airport journey, from arriving at the parking lot to boarding an airplane, including checking in, going through security, and listening to in-flight safety instructions.

“The ADM team is delighted to have once again hosted Premium Kids, an event that is very close to our hearts,” said Martin Massé, Vice President, Sustainable Development at ADM. “Accompanied by their parents, the children were able to enjoy an experience in a real-life environment that could prepare them for the hope of one day being able to fly as a family. It was an important day for the participants, but also for ADM, which is committed to making travel accessible to a growing number of passengers at YUL. A special thank you to the volunteers, our employees and our partners who made this initiative a real success.”

“As the mother of a child with autism spectrum disorder, it goes without saying that this event is very important to me,” said Chrystal Healy, Transat’s Vice President, Corporate Responsibility. “It was very touching to go on this trip with my son, and to see the positive impact it had on the other families present. I believe that this type of initiative broadens the definition of inclusivity and its application in all areas of daily life. I join Martin Massé in sincerely thanking everyone involved in making Premium Kids a reality.”

In addition to Air Transat, which has been involved since the very first edition by providing an aircraft and personnel free of charge, several other partners ensure the smooth running of the event: Autisme Montréal; the Giant Steps; Transport Canada; the Canada Border Services Agency (CBSA); the Canadian Air Transport Security Authority (CATSA); Securitas; HMSHost; and Montreal Airport Marriott In-Terminal Hotel.

This initiative is inspired by a similar program, Wings for Autism, launched in 2011 by the Charles River Center in collaboration with the Massachusetts Port Authority (Logan International Airport, Boston). ADM became the first airport authority in Canada to implement such a program at YUL in 2013.

About Aéroports de Montréal

ADM Aéroports de Montréal is the airport authority for the Greater Montréal area responsible for the management, operation and development of YUL Montréal-Trudeau International Airport, certified 4-stars under the Skytrax World Airport Star Rating program, and YMX International Aerocity of Mirabel.

About Air Transat

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a holiday travel provider, particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline in North America by passengers at the 2022 Skytrax World Airline Awards, it flies to international, U.S. and Canadian destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018.

Susan Kudzman Appointed President and Election of Three New Directors to Transat’s Board

Canadian Aviation News

MONTREAL, March 9, 2023 /CNW/ – At the Annual and Special Meeting of Shareholders of Transat A.T. Inc., held virtually today, shareholders elected a new Board of Directors. Annick Guérard, President and Chief Executive Officer, as well as Lucie Chabot, Valérie Chort, Daniel Desjardins, Susan Kudzman, Stéphane Lefebvre, Ian Rae and Julie Tremblay were re-elected. The Board now welcomes Geneviève Brouillette, Robert Coallier and Bruno Matheu as new members.

Lucie Chabot, Bruno Matheu, Julie Tremblay, Stéphane Lefebvre, Geneviève Brouillette Robert Coallier, Annick Guérard, Susan Kudzman, Valérie Chort, Ian Rae, Daniel Desjadins (absent). (CNW Group/Transat A.T. Inc.)
Lucie Chabot, Bruno Matheu, Julie Tremblay, Stéphane Lefebvre, Geneviève Brouillette Robert Coallier, Annick Guérard, Susan Kudzman, Valérie Chort, Ian Rae, Daniel Desjadins (absent). (CNW Group/Transat A.T. Inc.)

Susan Kudzman was also appointed Chair of the Board of Directors. For a second year, Transat has maintained gender parity (defined as 45%-55%) on its Board of Directors, with a total of five men and six women serving on the Board. Not only is Transat one of the few airlines in the world to be headed by a woman, the Company is also one of two players in the industry to have an equal or greater representation of women on its Board of Directors, according to data collected by Bloomberg1.

The meeting also marked the departure of Philippe Sureau, a founding member of Transat, and Raymond Bachand, outgoing Chairman of the Board. “Today, per the age limit stipulated in our rules of governance, I am ending my term on the Board of Directors. For 9 years I have had the privilege of assisting and participating in various ways in the governance of this company during very turbulent times. My colleague Philippe Sureau, one of Transat’s great founders, is stepping down after reaching the 12-year term of service on the Board. A pioneer of travel in Quebec, Philippe Sureau was a visionary and innovative entrepreneur. I would personally like to thank him for his contribution,” said outgoing president Raymond Bachand.

“I leave knowing that the Board and Transat are in good hands under the leadership of Annick Guérard and the governance of Susan Kudzman. Susan has played an important role in guiding strategy and human resources, particularly during the COVID-19 pandemic, as well as overseeing and managing the risks facing the Corporation. She has been and will continue to be a valuable contributor. I am confident she will be an excellent Board Chair and will continue to advise with great competence Transat’s Executive Committee. Transat’s future remains promising thanks to the strength, resilience, and expertise of the teams at all levels of the Corporation,” added outgoing President Raymond Bachand.

Susan Kudzman has been a member of Transat’s Board of Directors since March 2014. She has served for several years on the Risk Management and Corporate Responsibility Committee, and chairs the Company’s Human Resources and Compensation Committee. Ms. Kudzman is also Chair of the Board of Directors of Yellow Pages on which she has held a seat since November 2014. She also sits on the boards of Medavie and PSP Investments.

“I would like to thank Raymond Bachand and Philippe Sureau for their leadership and dedication to Transat over the years,” said new Board Chair Susan Kudzman. “They are pillars of this company, who have helped guide it through many key moments in its history. I would also like to welcome our new members, Geneviève Brouillette, Robert Coallier and Bruno Matheu,” she added. “All three are extremely qualified. Their experience and skills will guide the organization as well as the executive and Transat teams to implement the strategic plan.”

About the three new Board Members: Geneviève Brouillette, Robert Coallier and Bruno Matheu

Geneviève Brouillette has been the Chief Financial Officer of Aldo since 2019. With over 30 years of experience in finance and management, she has contributed to the growth of many renowned companies, such as Keurig Dr. Pepper, St-Hubert, Reader’s Digest and Kraft Foods, which has helped her gain a reputation that transcends borders. In 2022, she received the title of Fellow by the Québec CPA Order.

Robert Coallier is a corporate director. Mr. Coallier was the Chief Executive Officer of Agropur Cooperative. He has over 30 years of experience in, among other things, creating and managing businesses, organizational development, human resources management, business and financial turnaround and the development of customized IT and technology solutions. Mr. Coallier also held senior management positions at Dollarama, Molson Coors, C-MAC Industries Inc. and the Caisse de dépôt et placement du Québec.

Bruno Matheu has been the President and founder of BLM Consulting, a corporation providing business and management advice in various industries, including transportation and aviation, since 2017. Mr. Matheu was previously Chief Executive Officer, Airline Equity Partners for Etihad Aviation Group (UAE), a global aviation and travel group. Between 1992 and 2014, he held various senior management positions for Air France and Air France-KLM.

About Transat

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a holiday travel provider, particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline in North America by passengers at the 2022 Skytrax World Airline Awards, it flies to international, U.S. and Canadian destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018. (TSX: TRZ) www.transat.com

1 https://www.bnnbloomberg.ca/women-still-absent-from-top-airline-roles-and-male-led-boards-1.1888850 

Transat A.T. Inc. – Election of Board members

Canadian Aviation News

MONTREAL, March 9, 2023 /CNW/ – At the company’s Annual and Special Meeting of Shareholders today, the eleven candidates for the Transat director positions were elected by a majority of votes cast by shareholders or their proxies attending the Meeting. The Transat Board of Directors consists of Ms. Geneviève Brouillette, Ms. Lucie Chabot, Ms. Valérie Chort, Mr. Robert Coallier, Mr. Daniel Desjardins, Ms. Susan Kudzman, Mr. Stéphane Lefebvre, Mr. Bruno Matheu, Mr. Ian Rae, Ms. Julie Tremblay, and Ms. Annick Guérard, President and Chief Executive Officer of the Corporation.

Following are the results of the vote:

Vote FORVote AGAINST
NumberPercentageNumberPercentage
Geneviève Brouillette11,945,06898.13 %227,6971.87 %
Lucie Chabot11,936,30798.06 %236,4581.94 %
Valérie Chort11,957,45298.23 %215,3131.77 %
Robert Coallier11,959,84898.25 %212,9171.75 %
Daniel Desjardins11,961,10698.26 %211,6591.74 %
Annick Guérard11,931,20298.02 %241,5631.98 %
Susan Kudzman11,920,74897.93 %252,0172.07 %
Stéphane Lefebvre11,947,80898.15 %224,9571.85 %
Bruno Matheu11,962,33098.27 %210,4351.73 %
Ian Rae11,925,50897.97 %247,2572.03 %
Julie Tremblay11,923,66197.95 %249,1042.05 %


About Transat

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a provider of holiday travel particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline in North America by passengers at the 2022 Skytrax World Airline Awards, it flies to international, U.S. and Canadian destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018. (TSX: TRZ) www.transat.com

Transat A.T. Inc. – Results for first quarter of 2023

Canadian Aviation News

Transat discloses strong quarterly results in a challenging environment

Record high customer deposits support the adjusted operating income margin target of 4% to 6% for the year 

For the first quarter:

  • Revenues of $667.5 million
  • Adjusted operating income (adjusted EBITDA) of $3.3 million
  • Operating loss (EBIT) of $38.1 million

Financial position:

  • Unrestricted liquidity of $567.7 million as at January 31, following strong cash flow generation of $145.2 million
  • Customer deposits of $898.3 million, a new high, breaking the previous record in January 2020 by 11% 

MONTREAL, March 9, 2023 /CNW/ – Transat A.T. Inc., a holiday travel reference worldwide, particularly as an air carrier under the Air Transat brand, announces its results for the first quarter ended January 31, 2023.

“The momentum from the end of 2022 continues, confirming our financial scenarios,” stated Annick Guérard, President and Chief Executive Officer of Transat. “Transat is on an upswing and is headed for a return to profitability. In the first quarter of 2023, revenues more than tripled compared with the corresponding quarter in 2022. Across all programs, combining European and South destinations, Transat deployed capacity comparable to that of 2019; load factors were slightly lower, but the shortfall was largely offset by higher prices. In addition, airline unit revenues, expressed in yield, increased by more than 20% compared with the first quarter of 2019. As a result, we recorded an adjusted operating income of $3.3 million for the period, an improvement of $39.7 million compared with the first quarter of 2022. These results are especially encouraging since the first quarter, which falls in the shoulder period, is usually the lowest of the year.”

“Transat maintains the adjusted operating income margin target of 4% to 6% for the year. Resilient demand for travel is supporting prices and helps us deal with the pressure on operating costs. The context is therefore challenging but remains favourable to recovery in travel and Transat’s relaunch,” added Ms. Guérard.

During the first quarter, Transat deployed capacity equivalent to that of 2019 and recorded a satisfactory load factor of 84.5%. The Corporation acted prudently and rigorously to seize market opportunities, while minimizing operational risks. This balanced approach to capacity deployed served Transat and its travellers well. The Corporation successfully coped with numerous disruptions and delays caused by inclement weather and operational difficulties at several airports across North America between late December 2022 and early January 2023. Transat was thus able to record strong business volume, while maintaining its reputation for excellent customer service. This corporate culture is demonstrated every day by Transat employees, to whom the Corporation would like to express its appreciation.

First-quarter highlights

  • For the first quarter, the Corporation generated $667.5 million in revenues, up $465.0 million from $202.4 million for the corresponding period of 2022. In 2022, the Corporation had to cancel nearly 30% of flights scheduled as a result of the sharp decline in demand and massive booking cancellations following the emergence of the Omicron variant.
  • Transat recorded an operating loss of $38.1 million, an improvement of $35.7 million compared with the $73.8 million loss in 2022. Driven by sustained demand, this improvement was nonetheless dampened by a 46% surge in fuel prices.
  • Adjusted operating income1 amounted to $3.3 million, an improvement of $39.7 million, compared with a loss of $36.4 million in 2022.
  • Net loss amounted to $56.6 million, or $1.49 per share (diluted), compared with $114.3 million, or $3.03 per share (diluted), for the corresponding quarter of last year.
  • Excluding non-operating items, Transat reported an adjusted net loss1 of $61.6 million ($1.62 per share) for the first quarter of 2023, compared with $95.3 million ($2.53 per share) in 2022.

Financial position

As at January 31, 2023, cash and cash equivalents amounted to $467.7 million, an increase of $124.6 million compared with $343.1 million at the same date in 2022. Cash and cash equivalents in trust or otherwise reserved resulting from travel package sales also increased to $555.1 million as at January 31, 2023, compared with $172.4 million at the same date in 2022.

Customer deposits for future travel stood at $898.3 million, up 11% from pre-pandemic levels (as at January 31, 2020), reflecting the recovery in demand and higher average selling prices.

In total, available financing amounted to a maximum of $963.3 million, of which $863.2 million was drawn down ($678.0 million as at January 31, 2022), for unrestricted liquidity of $567.7 million.

Outlook

To date, for the second quarter of 2023, although load factors are 3 percentage points lower than in 2019, airline unit revenues, expressed in yield, are significantly higher and show a more than 25% increase. The combination of demand and higher prices will allow the Corporation to cope with higher costs. While it is too early to have a complete picture for the summer, the winter trends seem to be continuing into summer 2023.

For the full fiscal year 2023, the Corporation expects to deploy capacity equivalent to 90% of the 2019 level. This level is consistent with International Air Transport Association (IATA) projections for the Corporation’s main markets.

Bearing in mind the indicators to date, the Corporation maintains the target of an adjusted operating income margin of 4% to 6% for fiscal 2023. In making these forward-looking statements, the Corporation has relied on a number of assumptions, including moderate growth in Canada’s GDP taking into account the risk of a short recession, an exchange rate of C$1.34 to US$1 and an average price per gallon of jet fuel of C$4.50. 

Additional Information

The results were affected by non-operating items, as summarized in the following table: 

Highlights and non-IFRS financial measures
(In thousands of Canadian dollars)First quarter
20232022
Revenues667,457202,438
   
Operating loss(38,103)(73,841)
Special items2,900—
Depreciation and amortization41,10837,472
Premiums related to derivatives that matured during the period(2,574)—
Adjusted operating income (loss)13,331(36,369)
   
Net loss(56,610)(114,345)
Special items2,900—
Change in fair value of derivatives9,921528
Revaluation of liability related to warrants10,139456
Gain on asset disposals(2,511)(3,952)
Foreign exchange (gain) loss(22,829)21,996
Premiums related to derivatives that matured during the period(2,574)—
Adjusted net loss1(61,564)(95,317)
   
Diluted loss per share(1.49)(3.03)
Special items0.08—
Change in fair value of derivatives0.260.01
Revaluation of liability related to warrants0.270.01
Gain on asset disposals(0.07)(0.10)
Foreign exchange (gain) loss(0.60)0.58
Premiums related to derivatives that matured during the period(0.07)—
Adjusted net loss per share1(1.62)(2.53)
 As at
January 31, 2023		As at
October 31, 2022
Cash and cash equivalents467,712322,535
Undrawn funds from credit facilities100,000100,000
Unrestricted liquidity1567,712422,535

About Transat

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a provider of holiday travel particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline in North America by passengers at the 2022 Skytrax World Airline Awards, it flies to international, U.S. and Canadian destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018. (TSX: TRZ) www.transat.com

Air Transat to service Lyon year-round

Canadian Aviation News

MONTREAL, March 8, 2023 /CNW/ – Air Transat is proud to announce that it will offer a non-stop service between Montreal and Lyon next winter, thus becoming the only airline to operate this route year-round. Canadian travellers will be able to discover or rediscover this city renowned for its gastronomy and enjoy easy access to the French Alps, a world-class ski destination. In winter 2023-2024, this route will operate three days a week from Montreal on Tuesdays, Fridays and Saturdays.

Air Transat already flies up to seven times per week between Montreal and Lyon in the summer season. It services a total of eight French cities including two on a year-round schedule, namely Paris and now Lyon.

“As the leading carrier between Quebec and France, it was natural for us to add Lyon and its region to our winter program,” said Michèle Barre, Air Transat’s Chief Revenue Officer. “Route annualizations are part of our development strategy and, incidentally, our A321LR fleet is the best tool to meet this goal. We are delighted to meet the growing demand between Canada and France, which will benefit winter sports enthusiasts, business travellers and the expat community alike.”

The route will be operated with new generation Airbus A321LR aircraft featuring spacious cabins, state-of-the-art in-seat entertainment systems and the lowest fuel consumption and greenhouse gas emissions (CO2 and NOx) in their class.

About Air Transat

Founded in Montreal 35 years ago, Air Transat is a leading leisure travel brand. Voted North America’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international, transborder and Canadian destinations. 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). To find out more, visit airtransat.com.

Transat announces the appointment of Julie Lamontagne as Chief People, Sustainability and Communications Officer

Canadian Aviation News

MONTREAL, Feb. 15, 2023 /CNW/ – Transat A.T. inc. is pleased to announce the appointment of Julie Lamontagne as Chief People, Sustainability and Communications Officer of Transat. She will be responsible for developing and deploying initiatives in corporate culture, labour relations and talent attraction, retention, and mobilization. She will also oversee corporate responsibility programs as well as internal and external communications. She will begin her new role on March 13.

Julie Lamontagne (CNW Group/Transat A.T. Inc.)
Julie Lamontagne (CNW Group/Transat A.T. Inc.)

“We are sincerely delighted to welcome Julie to the team,” said Annick Guérard, President and Chief Executive Officer of Transat. “Her entrepreneurial approach, business acumen and rich professional background will enable us to develop and promote a work environment that balances the needs of the company and those of its employees. I am convinced that Transat will continue to stand out positively in the job market under her leadership. This is all the more significant given the current competitiveness of the market.”

“I am eager to join Transat, which has been taking its exceptional values abroad for over 35 years. I am very proud to contribute to this shining star of Quebec and, more broadly, of the international airline industry,” added Julie Lamontagne. “I look forward to participating in the constant evolution of business practices, surrounded by a resilient and talented team, serving an already strong employer brand.”

Julie Lamontagne has over 20 years of experience as a human resource professional, including 12 years in executive roles on management committees. Since 2019, she has held the position of Vice President, Talent and Culture at Enerkem and previously served as Vice President at Lumenpulse and EXFO. Julie Lamontagne holds a Bachelor’s degree in Industrial Relations from the University of Montreal and is a member of the Ordre des conseillers en ressources humaines agréés du Québec..

About Transat

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a provider of holiday travel particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline in North America by passengers at the 2022 Skytrax World Airline Awards, it flies to international, U.S. and Canadian destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018. (TSX: TRZ) www.transat.com.