News

Air Transat Parent Company Considers Expressions of Interest

Air Transat Parent Company Considers Expressions of Interest

Montreal-based travel company Transat A.T. Inc. announced on Tuesday that it has started preliminary discussions with interested parties concerning a potential sale of the company.

The announcement came as Air Transat’s parent company was preparing to hold its annual shareholders’ meeting in Montreal. The company indicated that the discussions are the result of “expressions of interest” and that a special committee has been formed to evaluate the various proposals.

“I want to reiterate that the discussions are at a preliminary stage and no decision has been made on a potential transaction,” said Jean-Marc Eustache, President and Chief Executive, Transat A.T. Inc, at the beginning of the meeting.

The company was founded 33 years ago by a group of businessmen including Eustache and Quebec Premier François Legault, who left the business in 1997 to enter politics.

Transat A.T. has been facing increased competition from Canadian carriers Air Canada Rouge, WestJet and Sunwing Airlines. TUI has a 49% stake in Toronto-based Sunwing Travel Group, which is thought to to be among the potential buyers.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

More in News

Emirates helps shine a spotlight on the issue of human trafficking

Michael FloodOctober 23, 2020

British Airways 747 will fly to Dunsfold Aerodrome to begin its new life as a TV and film set.

Michael FloodOctober 22, 2020

PATA announces dates for Virtual Roadshows

Michael FloodOctober 21, 2020

Global Recognition For Dublin Airport’s COVID-19 Safety Measures

Michael FloodOctober 21, 2020

Budget 2021: Are Travel Agents In or Out of the CWSS?

Neil SteedmanOctober 20, 2020

Covid-19: EC Adopts Recommendation to Co-ordinate Measures Affecting Free Movement

Neil SteedmanOctober 20, 2020

Wendy Wu has free flights to Japan offer expires 31 October

Michael FloodOctober 20, 2020

Cork Airport Responds to Ryanair Base Closure for Winter

Neil SteedmanOctober 20, 2020

Finnair Business Class meals take off in shops

Michael FloodOctober 20, 2020

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland