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Your email address will not be published.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, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Croatia is open for Irish visitors

Michael FloodJuly 3, 2020

Emirates clears nearly 650,000 refund requests

Michael FloodJuly 3, 2020

Spain is ready to welcome Irish visitors

Michael FloodJuly 2, 2020

Malta Launches Online Reopening Course

Michael FloodJuly 2, 2020

Elounda Beach Hotel & Villas introduces Elounda Safe Stay Programme

Michael FloodJuly 2, 2020

Isle of Man Steam Packet Company reflects on 190 year history

Michael FloodJuly 2, 2020

Philippines Travel Survey Reveals Post-Covid-19 Travel Attitudes

Neil SteedmanJuly 2, 2020

Intrepid Travel Introduces 14 New Intrepid Retreats

Neil SteedmanJuly 2, 2020

G Adventures Launches ‘Travel with Confidence Plus Collection’

Neil SteedmanJuly 1, 2020

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