ADM Aéroports de Montréal and SOFIAC Launch a Large-Scale Energy Efficiency Project at YUL and YMX

MONTREAL, Nov. 29, 2021 /CNW Telbec/ – SOFIAC is pleased to announce a new partnership with ADM Aéroports de Montréal to develop a large-scale energy efficiency and greenhouse gas (GHG) emission reduction project. Decarbonization, the implementation of innovative energy solutions, as well as significant energy cost and consumption reductions are at the heart of this significant project that will cover all airport infrastructure at the YUL Montreal-Trudeau International Airport and YMX International Aerocity of Mirabel locations.

According to Philippe Rainville, President and Chief Executive Officer at ADM Aéroports de Montréal Airport, “This partnership with SOFIAC will enable ADM to significantly accelerate efforts to achieve carbon neutrality. Our organization is firmly committed to changing how we do things and being more proactive in the fight against climate change. Although the YUL air terminal emits the least GHG emissions compared to other Canadian airport terminals, we firmly believe that the innovative SOFIAC approach will help us further reduce emissions. Securing the future of the airline industry involves concrete actions that, as our initiative targets, help key players in the industry reduce their environmental footprints.”

According to Michel Méthot, Chief Executive Officer at SOFIAC, “SOFIAC is extremely proud to launch its first large-scale project with ADM Aéroports de Montréal. We are starting the procurement phase of this infrastructure investment based on properly established benchmarks thanks to invaluable months of collaboration. This project will be reimbursed over a 15-year period solely by using a portion of the energy savings generated and will greatly contribute to our local green economy.”

This construction project will be rolled out over the next two years and is a precursor to a long series of SOFIAC projects that will generate local economic benefits amounting to tens of millions of dollars. The SOFIAC intermediary mechanism eliminates barriers to the implementation of energy efficiency infrastructure projects and successfully aligns the needs of clients with those of key stakeholders in the energy efficiency market, namely high-quality entrepreneurs, equipment suppliers, and consultants. This first large-scale project demonstrates SOFIAC’s commitment to the energy transition and the interesting financing and intermediation market aspects of the innovative SOFIAC approach.

SOFIAC was launched in January 2021 by Econoler and Fondaction with the support of the ministère de l’Énergie et des Ressources naturelles du Québec (MERN). SOFIAC completed its first round of financing last October, which totalled $200 M.

ADM is committed to achieving precise sustainability objectives including energy efficiency improvements, significant GHG emission reductions, water consumption reductions, and the ultimate objective of zero waste.

All details on ADM achievements and sustainable development strategies are available at https://developpementdurable.admtl.com/.

About SOFIAC

Founded in 2020, SOFIAC helps commercial, industrial, and multi-residential enterprises increase their cost-effectiveness and competitiveness by developing, financing, and implementing energy efficiency projects. The innovative SOFIAC business model permits clients to benefit immediately and without initial investments from a portion of the savings generated by reducing energy consumption levels. For more information, consult sofiac.ca.

About ADM 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.

Air France now offering Montreal-Guadeloupe flights

From Travelweek Canada – link to source story

By: Travelweek Group | November 24, 2021

NEW YORK — Air France passengers can now fly from YUL-Montreal (and JFK-New York) to Pointe-à-Pitre, Guadeloupe, with flights that launched Nov. 23.

Flight AF625 from Montreal to Pointe-à-Pitre departs Montreal on Wednesdays at 1 p.m., arriving in Guadeloupe at 6:50 p.m.

On the return leg, flight AF624 Pointe-à-Pitre to Montreal departs Tuesdays at 3:20 p.m. arriving at 7:50 p.m.

Starting the week of Dec. 6, 2021, Air France will add a second weekly flight to the route.

AF625 Montreal to Pointe-à-Pitre will leave Montreal on Saturdays at 1 p.m. and arrive at 6:50 pm. Coming back to Canada, AF624 Pointe-à-Pitre to Montreal departs 4:20 p.m. on Fridays, arriving at 8:50 p.m.

For information on travel restrictions and the documents required on arrival at destination, go to airfrance.traveldoc.aero.

As part of its commercial policy, Air France is currently offering fully modifiable tickets for travel until June 30, 2022 for tickets purchased on or before Jan. 31, 2022. Customers can modify their reservation free of charge or request a refundable credit voucher if they no longer wish to travel.

Air Canada Adding Extra Cargo Capacity Into Vancouver to Help Maintain British Columbia’s Economic Supply Chain

  • In response to flooding that disrupted transportation supply chain network in the province
  • 586 tonnes of additional capacity added into and out of YVR, an increase of 45% over originally planned levels
  • Air Canada Express Dash 8-400 aircraft being converted into special freighter configuration to transport cargo

MONTREAL, Nov. 22, 2021 /CNW Telbec/ – Air Canada announced today that it has significantly increased cargo capacity into and out of Vancouver between November 21 and 30 from its hubs in Toronto, Montreal and Calgary as it works to ensure that the vital economic supply chain links in British Columbia are maintained following the impacts of last week’s flooding. In total, Air Canada is adding 586 tonnes of cargo capacity, representing 3,223 cubic metres to support B.C.’s economic supply chain and the needs of its communities. The additional capacity is equivalent in weight to approximately 860 adult moose.

“The economic supply chain is vital, and to help support the urgent transport of goods into and out of British Columbia, we have increased capacity to our YVR hub by using the flexibility of Air Canada’s fleet to reschedule 28 passenger flights from narrow-body aircraft to be operated with wide-body Boeing 787 Dreamliners, Boeing 777, and Airbus A330-300 aircraft. These changes will allow an additional 282 tonnes of goods to be moved across the country on our scheduled passenger flights,” said Jason Berry, Vice President, Cargo, at Air Canada.

“Additionally, Air Canada Cargo will operate an additional 13 all-cargo flights between our Toronto, Montreal and Calgary cargo hubs and YVR using widebody aircraft, providing approximately 304 tonnes of additional capacity. These aircraft will help move mail and perishables such as seafood, as well as automotive parts and other industrial goods,” concluded Mr. Berry.

Air Canada is also working with its regional partner Jazz Aviation to provide additional regional cargo capacity by temporarily converting an Air Canada Express De Havilland Dash 8-400 from its normal passenger configuration into a special freighter configuration. This Dash 8-400 Simplified Package Freighter operated by Jazz can carry a total of 18,000 lbs. (8,165 kg) of cargo and will be deployed to transport critical goods, as well as consumer and industrial goods and will be in service as early as this week.

Last week, as the impact of the devastating floods became apparent, Air Canada quickly added capacity to the Air Canada Cargo network by substituting larger widebody aircraft on 14 passenger flights into Vancouver.

Additional capacity added for passengers

In addition to the extra cargo capacity, Air Canada had also increased the number of seats available for customers in Kelowna and Kamloops since November 17, adding approximately 1,500 seats into both communities by utilizing larger aircraft on routes. This enabled people affected by the highway closures to fly into and out from these airports, and through the cargo capacity of these passenger aircraft, also allowed for the important transport of emergency medical supplies into these regions.

Air Canada continues to monitor the situation in British Columbia very closely and will adjust its passenger and cargo schedule accordingly.

About Air Canada

Air Canada is Canada’s largest domestic and international airline, and in 2019 was among the top 20 largest airlines in the world. It is Canada’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax. In 2020, Air Canada was named Global Traveler’s Best Airline in North America for the second straight year. In January 2021, Air Canada received APEX’s Diamond Status Certification for the Air Canada CleanCare+ biosafety program for managing COVID-19, the only airline in Canada to attain the highest APEX ranking. Air Canada has also committed to a net zero emissions goal from all global operations by 2050. 

ADM plants an oak tree at the Dorval Arboretum for YUL’s 80th anniversary

MONTRÉAL, Nov. 12, 2021 /CNW Telbec/ – Philippe Rainville, President and CEO of ADM Aéroports de Montréal, and Edgar Rouleau, the outgoing Mayor of Dorval, planted an oak tree at the Dorval Arboretum yesterday as part of the 80th anniversary of YUL Montréal-Trudeau International Airport.

Alongside Edgar Rouleau, the outgoing Mayor of Dorval, Philippe Rainville, President and CEO of ADM Aéroports de Montréal, planted an oak tree at the Dorval Arboretum yesterday as part of the 80th anniversary of YUL Montréal-Trudeau International Airport. (CNW Group/Aéroports de Montréal)
Alongside Edgar Rouleau, the outgoing Mayor of Dorval, Philippe Rainville, President and CEO of ADM Aéroports de Montréal, planted an oak tree at the Dorval Arboretum yesterday as part of the 80th anniversary of YUL Montréal-Trudeau International Airport. (CNW Group/Aéroports de Montréal)

“We are very proud of our continuous involvement in our community for the past 80 years, especially by contributing to the beautification of the city and its parks,” said Mr. Rainville. “The oak tree symbolizes strength, longevity and generosity, important values of our organization. ADM has long been committed to fulfilling its role as an economic driver for the city. I would like to thank Mr. Rouleau for his collaboration with ADM over the past 17 years as Mayor of Dorval. We will continue to work with the city to ensure an essential balance between airport activities and the well-being of the community.”

Developed by the City of Dorval’s Leisure and Culture Department, the Peace Park Arboretum features more than 200 different trees that have been planted in honour or memory of citizens or events. The park is located on the grounds surrounding the Sarto-Desnoyers Community Centre, the Cultural Centre and the library, and on the grounds south of the Dorval Arena

About ADM 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.

Air Transat announces its summer 2022 flight program

MONTREAL, Nov. 11, 2021 /CNW Telbec/ – Air Transat, named World’s Best Leisure Airline, is proud to announce its flight program for the summer of 2022. At the height of the season, it will operate more than 250 flights each week to 44 destinations. It will gradually increase its service to Europe, strengthen its position in the United States by offering flights to Los Angeles and San Francisco for the first time, offer a selection of its most popular South destinations, and enhance its domestic flight program.

“We are actively rebuilding our network with a modern and versatile fleet that will enable us to meet the increased demand expected in 2022,” said Annick Guérard, President and Chief Executive Officer, Transat. “We will be returning to almost all of the destinations served before the pandemic, in addition to offering Canadian travellers major new destinations.”

An expanded Europe flight program

From Montreal, the airline will offer 7 direct flights weekly to London-Gatwick and 14 to Paris. It also plans to restart operations to the French provinces, with service to Bordeaux, Lyon, Marseille, Nantes, Nice and Toulouse. A total of 19 European destinations will be accessible via direct service from Montreal, including a new route to Amsterdam.

Air Transat will also strengthen its position as the leading international carrier departing from Jean Lesage Airport in Quebec City by offering exclusive non-stop flights to two European capitals: Paris and, for the first time, London.

From Toronto, in addition to 14 weekly flights to London, travellers will also be able to fly to 13 other key European destinations in Croatia, France, Greece, Ireland, Italy, the Netherlands, Portugal, Spain and the U.K.

Number of weekly direct peak-season flights to Europe

DestinationFrom
Montreal
From
Quebec City
From
Toronto
AMSTERDAM, the Netherlands34
ATHENS, Greece33
BASEL-MULHOUSE, Switzerland1
BARCELONA, Spain32
BORDEAUX, France4
BRUSSELS, Belgium3
DUBLIN, Ireland5
GLASGOW, United Kingdom4
LAMEZIA, Italy1
LISBON, Portugal55
LONDON, United Kingdom7114
LYON, France4
MADRID, Spain3
MALAGA, Spain2
MANCHESTER, United Kingdom4
MARSEILLE, France5
NANTES, France3
NICE, France2
PARIS, France1434
PORTO, Portugal23
ROME, Italy45
TOULOUSE, France4
VENICE, Italy21
ZAGREB, Croatia2

United States: focus on California and Florida

From Montreal, Air Transat will introduce a new direct service to California with two flights a week to San Francisco and three to Los Angeles. It will also intensify its service to Florida by operating flights between Montreal and Miami throughout the year, in addition to flying to Fort Lauderdale and Orlando from both Montreal and Toronto.

Finally, travellers from Quebec City will now be able to enjoy direct flights to Fort Lauderdale year-round.

Number of weekly direct peak-season flights to the U.S.

DestinationFrom
Montreal
From
Quebec City
From
Toronto
FORT LAUDERDALE, Florida414
LOS ANGELES, California3
MIAMI, Florida3
ORLANDO, Florida23
SAN FRANCISCO, California2

The South all year

Because Canadians are fond of South getaways even during the summer, Air Transat will offer a selection of its most popular destinations in Mexico and the Caribbean out of Montreal, Quebec City and Toronto.

Number of weekly direct peak-season flights to sun destinations

DestinationFrom
Montreal
From
Quebec City
From
Toronto
CANCÚN, Mexico415
CAYO COCO, Cuba22
HOLGUIN, Cuba11
MONTEGO BAY, Jamaica1
PORT-AU-PRINCE, Haiti2
PUERTO PLATA, Dominican Republic21
PUNTA CANA, Dominican Republic515
SAMANA, Dominican Republic1
SANTA CLARA, Cuba22
VARADERO, Cuba22

More domestic flights and connections

By closely observing the market and emerging travel trends, Air Transat is convinced that the popularity of travel within Canada will still be strong in the summer of 2022, which is why it will continue to enhance its domestic flight program.

These flights will also provide many Canadians with access to international destinations via connections in Toronto and Montreal.

Number of weekly peak-season domestic flights

City-pairNumber of
flights
MONTREAL–CALGARY8
MONTREAL–QUEBEC CITY5
MONTRÉAL–TORONTO15
MONTRÉAL–VANCOUVER10
TORONTO–CALGARY8
TORONTO–VANCOUVER10
Air Transat may have to modify its flight schedule subject to the changing COVID-19 situation and resulting travel restrictions.

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 achieved Travelife certification in 2018 in recognition of its sustainability commitments.

Recent distinctions and awards

  • World’s Best Leisure Airline at the Skytrax World Airline Awards
  • Named to Forbes World’s Best Employers List
  • Best Tour Operator and Favourite Overall Supplier at the Agents’ Choice Awards presented by Baxter Travel Media
  • Ranked as Canada’s 21st best corporate citizen by Corporate Knights

Pivot Airlines announces service to Ottawa and Montreal from the Region of Waterloo International Airport (YKF)

TORONTO, Nov. 5, 2021 /CNW/ – Pivot Airlines is pleased to announce the launch of scheduled air service between Waterloo Region and Ottawa beginning February 19, 2022, and between Waterloo Region and Montreal beginning March 21, 2022.

Advanced tickets go on sale midnight November 5, 2021 at http://www.flypivot.com.

“Pivot your travel embodies our core belief that our launch markets reflect the global trend in regional travel,” explained Eric Edmondson, CEO of Pivot Airlines. “We believe that while Toronto Pearson is a world-class global hub, regional airports like the Region of Waterloo International Airport (YKF) offer a better, more seamless, and hassle-free alternative for regional travel.”

Pivot Airlines is a value carrier operating the world’s most popular series of regional jets, the Mitsubishi Canadair Regional Jet. Advanced booking sales will continue throughout the pre-sale period leading up to the launch with no fees on changes or cancellations; some conditions apply.

“We welcome Pivot Airlines to the Region of Waterloo. Many residents will benefit from this new service to Ottawa and Montreal,” said Regional Chair Karen Redman. “We believe this service will encourage investment and create jobs in our community. Every seat bought out of YKF strengthens our local economy. Construction is currently underway on a terminal expansion that will accommodate further growth and investment in the region.”

Headquartered in Toronto Pearson Airport, Pivot Airlines launched in June of 2020 during the height of the COVID-19 pandemic, where they focused on providing essential air service connecting healthcare and resource sector workers as well as supply chains across Canada and into South America. Pivot Airlines will continue to provide group charter flights from Toronto Pearson International Airport and the Region of Waterloo International Airport.

About Pivot Airlines

Pivot Airlines focuses on providing regional airline solutions to a variety of community partners and mainline carriers. Pivot also specializes in delivering complex and multijurisdictional charters to corporate and leisure clients, the resource sector, sports teams and governmental agencies. Pivot Airlines is headquartered at the Toronto Pearson International Airport and led by a management team with over 25 years of experience providing regional airline service and complex charter solutions.

About the Region of Waterloo International Airport (YKF)

The Region of Waterloo International Airport (YKF) is a full-service facility which supports commercial, corporate and general aviation. The airport is home to 25 businesses that employ 300+ people that together contribute over $90 million annually to the Region of Waterloo’s economy. YKF is owned and operated by the Regional Municipality of Waterloo, Ontario (Canada).

ADM Announces its Financial Results at September 30, 2021

MONTRÉAL, Nov. 2, 2021 /CNW Telbec/ – ADM Aéroports de Montréal today announced its consolidated operating results for the nine months ended September 30, 2021. These results are accompanied by passenger traffic data for YUL, Montréal-Trudeau International Airport.

Highlights

Passenger volume at YUL totalled 1.9 million passengers during the third quarter of 2021, an increase of 216.6% compared with the same period in 2020 and a decrease of 68.0% compared with 2019. For the nine months ended September 30, 2021, passenger traffic was 2.8 million passengers, down 41.5% from the same period in 2020 and down 81.9% from the same period in 2019.

EBITDA (the excess of revenues over expenses before financial expenses, taxes, depreciation, impairment and share in the results of a joint venture) was $31.3 million for the three months ended September 30, 2021, an improvement of $42.5 million, or 379.5%, compared with negative EBITDA of $11.2 million for the corresponding period in 2020. For the nine months ended September 30, 2021, EBITDA was $19.8 million, a decrease of $16.5 million, or 45.4%, compared with 2020.

ADM’s capital investments, reduced to the essentials, were $13.9 million in the third quarter of 2021 and $44.2 million for the first nine months of 2021 ($42.6 million and $202.9 million, respectively, in 2020). The investments at YUL and YMX were funded by long-term debt.

Quote

“While times are still challenging for ADM, the results of this third quarter are encouraging and show some resurgence in activity at YUL. The past few months have shown us that passengers are becoming increasingly comfortable with the idea of travel and traffic volumes at our facilities during the summer season exceeded our initial projections. We are definitely optimistic about the future of our industry. The federal government’s announcement requiring both travellers and workers in the industry to be vaccinated will reinforce the safe and sustainable resumption of flight operations. In the meantime, the employees of ADM and the airport community continue to do their utmost on a daily basis to properly welcome passengers and offer them an experience worthy of our international airport and our city,” said Philippe Rainville, President and CEO of ADM Aéroports de Montréal.

Financial results

Consolidated revenues for the third quarter of 2021 were $84.4 million, an increase of $30.5 million, or 56.5%, from the same period in 2020. Cumulative revenues at September 30, 2021 were $167.7 million, a decrease of $63.1 million, or 27.3%, from 2020. The results for the third quarter of 2021 indicate that a gradual recovery in passenger traffic has begun. However, the impact of the travel restrictions imposed in many countries since March 2020 due to the pandemic, as well as the strategy put in place in Canada to manage it, mean that year-to-date revenues as at September 30, 2021 were lower than in the corresponding period of 2020.

Operating expenses for the quarter under review were $36.5 million, a decrease of $17.3 million, or 32.1%, compared with the same period in 2020. For the nine months ended September 30, 2021, operating expenses decreased by $51.1 million, or 32.7%, from $156.5 million to $105.4 million. ADM has continued to focus on significant operating cost reduction measures including the reduction of airport activities and the temporary closure of certain areas of the terminal building by gradually reopening these spaces based on passenger traffic. Furthermore, in 2021, ADM did not have to grant rent relief to certain concessionaires as it did in 2020 due to the impact of the pandemic. Finally, ADM continues to take advantage of the Canada Emergency Wage Subsidy program, which has been in place since March 2020.

Transfers to governments (payments in lieu of taxes to municipalities and rent to Transport Canada) amounted to $16.6 million for the third quarter of 2021 and $42.5 million for the first nine months of 2021 ($11.3 million and $38.0 million, respectively, in 2020). The increase is primarily due to the rent waiver for the period of March to December 2020. Note that the 2021 rent payment to Transport Canada is deferred and will be payable over a ten-year period beginning in 2024.

Depreciation and impairment of property and equipment and right-of-use assets remained stable at
$40.0 million in the three months ended September 30, 2021. These charges were $121.7 million in the first nine months of 2021, an increase of $3.7 million, or 3.2%, over the same period in 2020. This increase is primarily due to the commissioning of new assets.

Net financial expenses totalled $33.4 million in the third quarter of 2021, up $6.5 million, or 24.1%, over the same quarter last year. Cumulative net financial expenses as at September 30, 2021 totalled $98.7 million compared with $75.7 million the previous year, an increase of $23.0 million, or 30.4%. The increase in net finance expenses was primarily due to higher interest expense as a result of the April 2020 and April 2021 Series R and S bond issues, respectively, as well as costs associated with the consent process completed in March 2021 with bondholders.

For the three months ended September 30, 2021, the deficiency of revenues over expenses was $41.9 million, an improvement of $36.5 million, or 46.5%, over the deficiency of $78.4 million for the same period in 2020. As at September 30, 2021, the deficiency of revenues over expenses was $199.9 million, declining by $42.7 million, or 27.2%, compared with the corresponding nine months in 2020.

EBITDA is a financial measurement that is not recognized by International Financial Reporting Standards (IFRS). It is therefore unlikely to be comparable to similar measures used by other entities that are not airports. EBITDA is defined by ADM as the excess of revenues over expenses before  financial expenses, taxes, depreciation, impairment and share in the results  of a joint venture. It is used by management as an indicator to evaluate operational performance. EBITDA is meant to provide additional information and is not intended to replace other performance  measures prepared under IFRS.

Passenger traffic

Passenger volumes at YUL totalled 1.9 million in the third quarter of 2021, an increase of 216.6% compared with the same period in 2020. There was an increase in all the three sectors – domestic, transborder and international – of 170.2%, 681.2% and 215.5%, respectively.

For the first nine months of 2021, traffic at YUL totalled 2.8 million passengers, a decrease of 41.5% compared with 2020. International traffic decreased by 55.1%, transborder (US) traffic declined by 59.2%, while domestic traffic decreased by 14.9% compared with 2020.

Compared with 2019, the third quarter saw a decrease of 68.0%, and for the first nine months of the year, a decrease of 81.9% was observed.

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.

Bombardier reports its third quarter 2021 results, demonstrates solid execution and strong cash flow performance

  • Business aircraft revenues of $1.4 billion, up 17% year-over-year, mainly driven by an improved delivery mix and continued strong aftermarket recovery as overall fleet flight hours surpass 2019 levels.
  • Adjusted EBITDA(1) of $142 million (9.8% adjusted EBITDA margin(1)), representing a year-over-year improvement of $58 million or 69% reflecting continued progress on the Global 7500 aircraft’s learning curve, cost structure improvements and an improved delivery mix. Reported EBIT from continuing operations for the quarter was $48 million.
  • Strong free cash flow(1) generation of $100 million from continuing operations, representing an improvement of $747 million year-over-year. Reported cash flows from operating activities – continuing operations for the quarter was $156 million and net additions to PP&E and intangible assets – continuing operations for the quarter were $56 million.
  • Third quarter unit book-to-bill(2) of ~1.7 and increased backlog by ~$500 million to $11.2 billion on account of continued strong order momentum.
  • Major milestone in deleveraging plan achieved with the redemption of debt maturities to December 2024, representing a total debt reduction of ~$3 billion since the beginning of 2021.
    Pro-forma liquidity(3) remains strong at $1.9 billion.

All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.

MONTREAL, Oct. 28, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today its financial results for the third quarter of 2021. The company is pleased with continued execution on its strategic initiatives, cash flow generation and order momentum driving the financial results of the quarter. Bombardier also highlighted that during the third quarter, the company redeemed debt maturities through December 2024, a major milestone in its deleveraging plan.

“The Bombardier team once again delivered a solid quarter, a confirmation that this year is shaping up to be significantly better than the last,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Our unit book-to-bill ratio remains very healthy, contributing to a significant increase to our backlog. This momentum has also translated to a solid increase in profitability, with adjusted EBITDA margin approaching 10% this quarter.”

“We are delivering consistently on what we set out to do, especially when it comes to deleveraging the balance sheet. Thanks to the hard work of our outstanding team, we cleared the debt maturity runway on plan,” added Martel. “As a fantastic finale to the quarter and at a great moment in time for our industry, we launched our new Challenger 3500 jet last month. The extremely positive reception and strong first orders for the new aircraft are clear evidence that we were able to bring significant value to customers through measured and disciplined investments.”

Third Quarter 2021 Financial Performance

Business jet revenues of $1.4 billion are up 17% year-over-year, propelled mainly by an improved delivery mix, with higher deliveries of large aircraft. The company has also seen an increase of revenues by $76 million from business aircraft services. This is mainly due to increased fleet flight hours having now surpassed 2019 levels, a clear signal that the industry is on a strong recovery path from the global shock caused by the COVID-19 pandemic. Confidence levels within the industry are at a new all-time high, indicative of the rising vaccination levels and eased travel restrictions. In the U.S., business jet utilization increased by 42.5%, year-over-year for the first eight months of the year. In Europe, business jet utilization increased by 27.1% year-over-year in the first nine months of the year.

Bombardier reported an adjusted EBITDA of $142 million, representing a year-over-year improvement of $58 million or 69%. The company attributes this to an improved aircraft mix, continued progress on Global 7500 aircraft learning curve, and cost structure improvements. Reported EBIT from continuing operations for the quarter was $48 million.

For the second consecutive quarter, the company is seeing an improved free cash flow (FCF) generation. FCF of $100 million from continuing operations represents an improvement of $747 million year-over-year. The positive result is mainly due to stronger order intake and better payment terms on new orders. Reported cash flows from operating activities – continuing operations for the quarter was $156 million, and net additions to PP&E and intangible assets – continuing operations for the quarter were $56 million.

Major Milestone Achieved with the Clearing of Debt Maturities Through December 2024

The Corporation reported a total debt reduction of approximately $3 billion since the beginning of 2021, and cleared, through redemption or refinancing, debt maturities through December 2024. This represents a major milestone in one of Bombardier’s key priorities this year, as it creates a runway to focus on its operations and stabilizes the need for liquidity. Pro-forma liquidity remains strong at $1.9 billion.

Successful launch of the Challenger 3500

As the third quarter wrapped up, the company introduced a major update to its bestselling Challenger 350 platform, the Challenger 3500. The new aircraft represents a culmination of a period of important product development that saw Bombardier introduce innovative technologies and industry-leading new products and services.

With a redesigned interior that includes Bombardier’s patented Nuage seat as part of the aircraft’s standard configuration and the industry’s first voice-controlled cabin, the new Challenger 3500 further elevates the cabin experience to meet the increasing customer expectations. The enthusiastic welcome that the mock-up of the aircraft received at the first post-pandemic National Business Aviation Association event earlier this month is a first confirmation of this, as is a 20 aircraft firm order announced in the third quarter.

Flight testing and certification activities for the Challenger 3500 is progressing on schedule for an expected entry into service in the second half of 2022.

Click here for details results

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of over 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Visit the Bombardier Business Aircraft website for more information on our industry-leading products and services.

Flair Airlines grows schedule 33% in Canada and the U.S. with four new aircraft

  • Service will launch in Spring 2022 to San Francisco, Nashville, and Denver in the U.S., between Toronto and Victoria and to Comox, B.C., in Canada
  • Canadian ULCC adds four aircraft to bases in Toronto, Edmonton and Vancouver
  • 150 new jobs created from schedule and fleet growth

Edmonton, Alberta, Oct. 19, 2021 (GLOBE NEWSWIRE) — Flair Airlines, Canada’s only independent ultra low-cost carrier (ULCC), continues its unprecedented growth with the deployment of four brand new 737 MAX aircraft in April and May 2022. Two additional aircraft will be added to Flair’s Toronto base, bringing the total there to five.  A second aircraft will be added to Flair’s Edmonton base and a third aircraft to its Vancouver base. Flair’s Spring 2022 schedule will expand from twelve aircraft to sixteen, delivering 33% schedule growth.

A whopping 14 new routes will be added, including service to four fantastic new destinations. Three new cities will be added to Flair’s network in the US, allowing Canadians to finally travel affordably to San Francisco, Nashville, and Denver.  Flair will also launch Comox as a second gateway to Vancouver Island, complementing existing service to Victoria and allowing visitors to explore even more of the island.

“Travelling and reconnecting with friends will be among the top priorities for many Canadians in the coming months, and Flair is continuing our growth by adding more aircraft and routes so we can bring sustainably low fares to even more iconic destinations across North America,” said Stephen Jones, President and CEO, Flair Airlines. “Whether you’re looking for a weekend break on Vancouver Island or hiking in the Rockies, Flair will get you there affordably.”

With the addition of these four aircraft, Flair will create 150 new jobs for flight attendants, pilots and operational support staff. Flair is currently recruiting for 100 pilot positions to meet the needs of its growing fleet.

Flair is adding new 737 MAX aircraft as it strives to achieve the lowest cost per seat mile of any Canadian airline. The aircraft deliver fuel savings and reduce the airline’s CO2 emissions by 14%. Lower per passenger emissions are a vital step in lowering Flair’s carbon footprint as it works to become Canada’s greenest and most sustainable airline.

Fares to US destinations start between $99 and $129 CAD one-way and several of the new domestic Canadian routes have fares as low as $49 CAD one way, including taxes and fees. All routes and schedule details can be viewed at https://www.flyflair.com.

Flair is also starting service to 6 US destinations this Fall and currently serves 18 destinations in Canada. Flair is growing to serve 28 destinations by spring 2022. 

Toronto Pearson Base Grows to 5 Aircraft

The addition of two aircraft based in Toronto will grow Flair’s footprint to five aircraft. Flair will be providing low fares on nonstop flights to 19 destinations from Toronto Pearson Airport.

“We are excited to welcome Flair’s new routes as they expand their network and offer Canadians more options to travel to the U.S. as well as the picturesque destination of Victoria, BC. Passengers travelling through Pearson can do so confidently with many measures in place to keep them safe, such as no- and low-touch check-in and bag drop, improved air quality and contactless shopping and dining options,” said Craig Bradbrook, Chief Operating Officer, Greater Toronto Airports Authority.

Edmonton Base Opening in December

In December, Flair will be opening a base in Edmonton with the addition of a new aircraft and adding new nonstop service to Hollywood-Burbank, Las Vegas, Palm Springs and Phoenix-Mesa. The spring addition of routes to Nashville, San Francisco, Comox, Regina, Montreal, Winnipeg and Saskatoon will join the nonstop flights Flair currently provides to 7 domestic destinations from Edmonton.

“Grab a guitar and get ready to go! Edmonton loves country music and we’re excited to have Nashville joining our list of non-stop destinations. All new and added service supports our recovery which is important for both our business community and leisure travellers. I want to thank Flair for adding these American destinations along with significant increases in service for several Canadian cities. I’m confident our community will embrace these flights and this increased service from Flair,” said Tom Ruth, President and CEO, Edmonton International Airport.

Additional Vancouver Growth

Adding a third aircraft to the Vancouver base allows Flair to expand service in Western Canada. The nonstop flights to San Francisco and Kelowna will follow new service starting this Fall that includes nonstop flights from Vancouver to Hollywood-Burbank, Palm Springs, Phoenix-Mesa and Las Vegas.

“We are thrilled to support the growth of Flair’s network from YVR. This latest announcement will mean new options out of YVR to popular destinations to BC’s interior and south of the border,” said Russell Atkinson, Director, Air Service Development, Vancouver Airport Authority. “With more people being vaccinated and travel measures easing, we look forward to continued increased service from Flair which will benefit the community and the economy that supports it.”

ULCC Growth Benefits Canadian Travellers

With the addition of new aircraft and more capacity, Flair is providing more affordable air travel options across Canada and to the USA. As travel returns, Flair’s low fares will help kickstart tourism and reconnect families.  

“We’re excited to welcome Flair Airlines to Nashville International Airport®, which means more connectivity between Nashville and Canadian destinations,” said Doug Kreulen, Nashville International Airport president and CEO. “Edmonton is an outstanding new addition to BNA’s® portfolio of international flights, and more service to Toronto is great news for everyone. We look forward to welcoming Flair passengers to Nashville next April with ultra-low fares.”

“Expanding Denver’s global connectivity not only aids in our economic recovery, it also continues to elevate our city as a global hub,” Denver Mayor Michael B. Hancock said. “As borders reopen and we begin to welcome back international travel, the investment by Flair into Denver is a big boost for our community and local businesses.”

“We’re excited to see our partnership with Flair continue to evolve as we work to restore in-demand travel options interrupted amid the pandemic,” said Barry Rempel, President and CEO of Winnipeg Airports Authority. “The return of this route will provide travellers with additional, convenient options when flying between Winnipeg and Edmonton, whether to visit family and friends or pursue business or study opportunities. We look forward to welcoming back this popular route, meeting our community’s needs through services at Winnipeg Richardson International Airport.”

“Skyxe is excited to be expanding our relationship with Flair Airlines. Edmonton is a high traffic market for Saskatoon, and we hope the addition of Flair’s low cost service option will allow many of our residents to visit friends and family in Edmonton more often,” said Stephen Maybury, CEO of Skyxe Saskatoon Airport.

“We’re very excited that Flair Air has chosen Comox as the gateway to central Vancouver Island,” said Mike Atkins, CEO of the Comox Valley Airport Commission. “As air travel continues to rebound, Flair’s service to Calgary and Edmonton will provide incredible low-cost options to visitors, businesses and friends and family alike. We can’t wait to share the beauty of Vancouver Island with Flair’s passengers.” 

“We are delighted to see more options for passengers on the very popular Vancouver – Kelowna and Victoria – Kelowna routes as we continue to see more growth by Flair out of Kelowna,” said Sam Samaddar, Airport Director, Kelowna International Airport.

About Flair Airlines

Flair Airlines is Canada’s only independent Ultra Low-Cost Carrier (ULCC) and is on a mission to liberate the lives of Canadians by providing affordable air travel that connects them to the people and experiences they love. With an expanding fleet of Boeing 737 aircraft, Flair is growing to serve 28 cities across Canada and the U.S. For more information, please visit http://www.flyflair.com.

New Destinations for March & April 2022:

USA

  • Nashville, TN (BNA)
  • Denver, CO (DEN)
  • San Francisco, CA (SFO)

CANADA

  • Comox, BC (YQQ)

New Routes

USA

  • Toronto – Nashville (YYZ-BNA) – 2x weekly starting April 14, 2022
  • Toronto – Denver (YYZ-DEN) – 3x weekly starting April 15, 2022
  • Edmonton – Nashville (YEG-BNA) – 2x weekly starting April 14, 2022
  • Edmonton – San Francisco (YEG-SFO) – 2x weekly starting April 14, 2022
  • Vancouver – San Francisco (YVR-SFO) – 3x weekly May 17, 2022

CANADA

  • Calgary – Comox (YYC-YQQ) – 3x weekly starting March 29, 2022
  • Edmonton – Comox (YEG-YQQ) – 3x weekly starting March 29, 2022
  • Edmonton – Regina (YEG-YQR) – 2x weekly starting April 14, 2022
  • Edmonton – Montreal (YEG-YUL) – 3x weekly starting April 15, 2022
  • Edmonton – Winnipeg (YEG-YWG) – 3x weekly starting April 15, 2022
  • Edmonton – Saskatoon (YEG-YXE) – 3x weekly starting April 15, 2022
  • Toronto – Victoria (YYZ-YYJ) – 1x weekly starting May 7, 2022
  • Vancouver – Kelowna (YVR-YLW) – 3x weekly starting May 16, 2022
  • Kelowna – Victoria (YLW–YYJ) – 3x weekly starting May 16, 2022

Air Canada To Resume Service And Increase Capacity To Key Destinations in South America

  • Montreal to São Paulo restarts; increases to daily flights from Toronto
  • Montreal to Bogotá resumes; Toronto service moves up to four flights per week
  • Buenos Aires, Argentina to be served via São Paulo four times per week
  • Toronto to Santiago, Chile restarts in January with three weekly flights

MONTREAL, Oct. 14, 2021 /CNW/ – Air Canada today announced an increase in service to several key South American destinations as the airline continues to rebuild its global network from its Toronto and Montreal hubs. Service to São Paulo, Brazil will resume from Montreal on December 8 with four flights per week on a year-round basis, while service from Toronto to Brazil’s financial centre will increase to daily flights as of December 6. São Paulo will be served by Air Canada’s flagship Boeing 787 Dreamliner.

Service from Montreal to Bogotá, Colombia is set to resume on December 2 with three weekly flights, while flights from Toronto to Bogotá will increase to four per week as of November 7, all operated on an Airbus A330-300. Flights to Bogotá will allow customers to easily connect onward throughout Colombia and other South American destinations via Star Alliance partner Avianca.

Air Canada also remains committed to serving Buenos Aires, Argentina, with flights offered to either Toronto or Montreal via São Paulo. The flights to Argentina, which has announced plans to reopen to international tourists as of November 1, are still pending government approval.

Another key South American destination will rejoin Air Canada’s network in January 2022 with the resumption of service between Toronto and Santiago, Chile, with three weekly flights.

“We are very excited to serve some of the largest cities in South America, offering our customers more travel options from our main hubs. By resuming services from Montreal and adding capacity from Toronto, Air Canada is demonstrating its strong commitment to the Brazilian, Argentinian, Colombian and Chilean markets. This increased presence will not only allow for greater leisure travel, but it will also help spur the economic recovery and facilitate business connections. Air Canada has a long-standing presence in Brazil, operating from Toronto for several decades, contributing to the strong business relationship between the two countries,” said Mark Galardo, Senior Vice President, Network Planning and Revenue Management at Air Canada.

Schedules:

São Paulo

FlightFromDepartureToArrivalFrequencyStart Date
AC 90Toronto22:55São Paulo10:50DailyDecember 6
AC 91São Paulo20:45Toronto05:00
AC 96Montreal21:50São Paulo09:50Mon, Wed, Fri, SunDecember 8
AC 97São Paulo21:45Montreal06:00Mon, Tue, Thu, SatDecember 9

Buenos Aires

FlightFromDepartureToArrivalFrequencyStart Date
AC96São Paulo11:50Buenos
Aires
14:50Mon, Tue, Thu, SatDecember 10
AC97Buenos Aires17:05São
Paulo
19:45Mon, Tue, Thu, SatDecember 10

Bogotá

FlightFromDepartureToArrivalFrequencyStart Date
AC94Toronto21:35Bogotá03:35Tue, Wed, Fri, SunNovember 7
AC95Bogotá08:35Toronto14:35Mon, Wed, Thu, SatNovember 7
AC 98Montreal21:05Bogotá03:35Mon, Thu, SatDecember 2
AC 99Bogotá08:35Montreal14:45Tue, Fri, SunDecember 3

Santiago

FlightFromDepartureToArrivalFrequencyStart Date
AC92Toronto22:55Santiago11:15Tue, Fri, SunJanuary 11, 2022
AC93Santiago20:55Toronto05:25Mon, Wed, SatJanuary 12, 2022

Travelling internationally? Visit our Travel Ready Hub for the latest government entry requirements. Customers are responsible for ensuring they meet all government entry requirements, including holding the correct travel documents, visas, any required health certificates, and all other eligibility requirements for any flights they purchase. Government requirements may change with little notice.

Travel Policy: Book with confidence

Air Canada’s new refund policy is applicable to all tickets purchased. Customers have the option of a full refund to the original form of payment, an Air Canada Travel Voucher or the equivalent value in Aeroplan Points with a 65% bonus should the airline cancel or reschedule a flight by more than three hours.

International Services

Air Canada’s international services include wide-body aircraft featuring choices of Air Canada Signature Class with lie-flat seating, Premium Economy and Economy Class. Hours of complementary inflight entertainment is available at every seat throughout the aircraft along with options to purchase onboard wi-fi.

All customers are provided with individual care kits which contain antiseptic wipes, face covering and hand sanitizer. Air Canada’s onboard services have resumed and will gradually feature new meals inspired by a panel of celebrated Canadian chefs on international flights departing Canada.

Customers can also collect and redeem Aeroplan points through Canada’s leading loyalty program when travelling with Air Canada, and eligible customers have access to priority check-in, Maple Leaf Lounges, priority boarding and other benefits, where available. Lounges are currently open in the domestic gate areas at Toronto, Montreal, Vancouver, and Calgary, and at the international gate areas at Toronto, Montreal, and Paris, with additional plans to re-open other locations in due course.

About Air Canada

Air Canada is Canada’s largest domestic and international airline, and in 2019 was among the top 20 largest airlines in the world. It is Canada’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax. In 2020, Air Canada was named Global Traveler’s Best Airline in North America for the second straight year. In January 2021, Air Canada received APEX’s Diamond Status Certification for the Air Canada CleanCare+ biosafety program for managing COVID-19, the only airline in Canada to attain the highest APEX ranking. Air Canada has also committed to a net zero emissions goal from all global operations by 2050.