Category Archives: Air Transat

Air Transat celebrates 30 Years of flying

Air Transat celebrates 30 Years of flying

Air Transat (Montreal) on February 15, 2017 unveiled the first of its 30th anniversary aircraft, displaying their new anniversary logo.

This special livery will be displayed on 3 of its Airbus A330-300 aircraft, which fly Montréal–Paris and Toronto–London routes, and also serve Punta Cana and Cancun.

Copyright Photo: Air Transat Airbus A330-342 C-GCTS (msn 177) (30 Years-Ans) YUL (Gilbert Hechema). Image: 937315.

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Air Transat to offer winter service between Toronto and Paris via Montreal

Air Transat (Montreal) has announced it fly from Toronto (Pearson) to Paris this winter thanks to the addition of new connecting flights to Montreal.

 

The airline continued:

Air Transat logo

Air Transat will also be offering a new Montreal – Toronto route allowing passengers to leave from Montreal and board Toronto flights for London, Manchester or Glasgow as well as a new Calgary – Vancouver route allowing passengers to leave from Calgary and board a Vancouver – London flight.

The new flights between Toronto and Paris and Montreal and the United Kingdom (London , Manchester and Glasgow ) will operate from Sunday to Thursday inclusively effective in November 2015.

Connecting flights will also be offered for Malaga, Spain for passengers travelling from Toronto to Montreal effective January 2016 and for three destinations in Portugal ( Lisbon and Porto as of November 2015 and Faro as of January 2016 ) for passengers travelling from Montreal to Toronto , all destinations renowned for vacations under the sun.

Air Transat will also be offering a new Calgary – Vancouver route this winter effective December 2015 allowing passengers to leave from Calgary and board a Vancouver – London flight on Mondays.

Travellers who want to enjoy the Air Transat experience when flying domestically will also be able to take advantage of the new flights between Toronto and Montreal and Calgary and Vancouver which run during peak business travel hours.

Copyright Photo: Steve Bailey/AirlinersGallery.com. Airbus A330-243 C-GTSZ (msn 971) approaches the runway at Vancouver International Airport.

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Air Transat starts seasonal Halifax – London Gatwick flights

Air Transat (Montreal) on June 17 launched its twice-weekly summer seasonal service between Halifax and London (Gatwick) with Boeing 737 aircraft.

The return westbound routing stops at Gander per Airline Route.

Copyright Photo: Gilbert Hechema/AirlinersGallery.com. Boeing 737-8Q8 C-GTQB (msn 30696) with APB Split Scimitar Winglets completes its approach to the runway at Montreal (Trudeau).

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Transat A.T. Inc. (Air Transat) reports a fiscal first quarter adjusted net profit of $32.4 million

Transat A.T. Inc. (the parent of Air Transat) (Montreal) posted revenues of $788.6 million for the quarter ended January 31, 2015, compared with $847.2 million in 2014, a decrease of $58.6 million, or 6.9%. The Corporation recorded an adjusted operating loss1 of $35.8 million, compared with $23.9 million in 2014; and a net loss attributable to shareholders of $64.3 million ($1.66 per share on a diluted basis), compared with $25.6 million ($0.67 per share on a diluted basis) in 2014. Before non-operating items, Transat reported an adjusted net loss3 of $32.4 million in 2015 ($0.84 per share), compared with $23.3 million ($0.60 per share) in 2014.

All amounts are in Canadian dollars.

Read the full report: CLICK HERE

Notes:

The following are non-IFRS financial measures used by management as indicators to evaluate ongoing and recurring operational performance.

(1)
Adjusted operating income (loss): Operating income (operating loss) before depreciation and amortization expense, restructuring charge and other significant unusual items.
(2)
Adjusted pre-tax income (loss): Income (loss) before income tax expense, change in fair value of derivative financial instruments used for aircraft fuel purchases, gain on disposal of a subsidiary, restructuring charge, impairment of goodwill and other significant unusual items.
(3)
Adjusted net income (loss): Net income (loss) attributable to shareholders change in fair value of derivative financial instruments used for aircraft fuel purchases, gain on disposal of a subsidiary, restructuring charge, impairment of goodwill and other significant unusual items, net of related taxes.

Copyright Photo: Chris Sands/AirlinersGallery.com. Air Transat’s Airbus A330-243 C-GITS (msn 271) is pictured in action at Calgary International Airport (YYC).

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Air Transat to fly to Budapest, Hungary next summer

Air Transat (Montreal) (website) has announced it is adding a new destination, Budapest, Hungary, to its trans-Atlantic program for 2015, as well as increasing seats and frequencies on many of its European routes, including Paris, London, Barcelona, Athens, Lisbon, Marseille, Nantes, Rome and Venice.

The new route will be routed from Toronto (Pearson) to Montreal (Trudeau) and finally to Budapest with Airbus A330s from June 17 through October 8, 2015.

 

Besides service to secondary cities in France, the carrier is now offering twice-daily flights to Paris from Montreal and six a week from Toronto. Air Transat also remains the only airline offering direct flights to Paris from Quebec City, Calgary and Vancouver.

In addition, Air Transat announced a new connection between Halifax, Nova Scotia) to St. John’s, Newfoundland and Labrador and finally to London (Gatwick), with two weekly Boeing 737-800 flights in the high season, in response to strong demand from travellers in the region. The route will be operated from June 17 through September 3, 2015.

Elsewhere in Canada, the carrier will increase flight frequencies on its London routes as well, offering 10 weekly departures from Toronto, two each from Montreal and Halifax, six from Vancouver, and three from Calgary.

Flights will also be added to Athens and Barcelona from Montreal and Toronto, and to Lisbon from Montreal.

In 2015, Air Transat will no longer offer flights to Germany from Western Canada, and will no longer fly to Turkey. Although the airline is eliminating service between Montreal and Istanbul, Air Transat will continue to market that destination, with land tours sold under the Transat Holidays and Transat Discoveries brands.

Copyright Photo: TMK Photography/AirlinersGallery.com. Airbus A330-243 C-GTSZ (msn 971) of Air Transat departs from Toronto (Pearson).

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Air Transat’s parent reports adjusted 3Q net income of C$26.7 million

Air Transat‘s (Montreal) (website) parent, Transat A.T., Inc. issued this quarterly financial statement for the fiscal third quarter (all amounts in Canadian dollars):

Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada’s holiday travel leader, posted revenues of $941.7 million for the quarter ended July 31, 2014, compared with $927.0 million in 2013, an increase of $14.7 million, or 1.6%. The Corporation recorded adjusted operating income of $46.8 million, compared with $54.4 million in 2013, and net income of $25.8 million ($0.66 per share on a diluted basis), compared with $41.1 million ($1.07 per share on a diluted basis) in 2013. Before non-operating items, Transat reported adjusted net income of $26.7 million in 2014 ($0.69 per share on a diluted basis), compared with $30.8 million ($0.80 per share on a diluted basis) in 2013.

Read the full report: CLICK HERE

Copyright Photo: TMK Photography/AirlinersGallery.com. Air Transat’s Boeing 737-8Q8 C-GTQB (msn 30696) in the Split Scimitar Wingslets is resting between flights at Toronto (Pearson).

 

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Air Transat’s parent reduces its fiscal second quarter net loss to $7.9 million

Transat A.T. Inc., (parent of Air Transat) (website) (Montreal) posted revenues of $1.1 billion for the quarter ended April 30, 2014, an increase of 1% compared with the same period in 2013.

The Corporation recorded an adjusted operating loss of $4.0 million (all dollar figures are in Canadian dollars), compared with an adjusted operating profit of $2.7 million in 2013, and a net loss of $7.9 million ($0.20 per share on a diluted basis), compared with a net loss of $22.8 million ($0.59 per share on a diluted basis) in 2013. The decline in value of the Canadian dollar alone resulted in an increase in operating expenses of $22 million. Before non-operating items, Transat reported an adjusted net loss3 of $7.6 million in 2014 ($0.19 per share on a diluted basis), compared with an adjusted net loss of $1.4 million ($0.04 per share on a diluted basis) in 2013.

Here is the full report:

“Our results for the quarter and the winter are slightly better than what we anticipated in March,” commented Jean-Marc Eustache, President and Chief Executive Officer, before adding: “It was a peculiar winter. In December, margins were higher year over year and we were heading toward a performance improvement. The sudden drop in value of the Canadian dollar provoked a significant increase in operating expenses that reversed the situation, as it came early in the season, when the market resists increases in selling prices.”

Second-quarter highlights

The Corporation posted revenues of $1.1 billion, an increase of 1% compared with 2013, and an adjusted operating loss1 of $4.0 million, compared with an adjusted operating profit of $2.7 million in 2013. During the quarter, Transat had reduced capacity on its Sun destination routes by 3.5%, which contributed to a 5.3% overall decrease in the number of travellers. Average selling prices were up, and the euro and pound traded higher against the Canadian dollar. The adjusted operating loss is attributable entirely to the decline in value of the Canadian dollar against the U.S. dollar.

Revenues of North American business units, which are generated by sales in Canada and abroad, decreased by $4.0 million (0.4%) compared with the same period in 2013. The decline in revenues stemmed from the Corporation’s decision to reduce supply on its Sun destination routes by 3.5%, and on its transatlantic routes by 2.9%, leading to a decrease of 5.9% in the number of travellers, while average selling prices rose. North American business units recorded an operating loss of $15.7 million, compared with one of $7.3 million in 2013. The increase in operating loss is attributable entirely to the decline in value of the Canadian dollar versus the U.S. dollar, and the accompanying increase in operating expenses. The combined effect of increased selling prices plus cost-control initiatives was not sufficient to offset the effect of those expense increases. The operating loss for the quarter includes a $2.2-million restructuring charge, compared with $3.9 million in 2013.

Revenues of European business units, which are generated by sales in Europe and in Canada, increased by $15.8 million (9.7%) over 2013, owing to the strength of the euro and pound against the Canadian dollar. Measured in local currencies, the revenues of the France business unit increased, while those of the U.K. unit decreased following the Corporation’s decision to reduce capacity. European activities resulted in an operating loss of $1.4 million, compared with $2.8 million in 2013.

First six-month period highlights

For the first six months, the Corporation posted revenues of $2.0 billion in 2014, compared with $1.9 billion in 2013, and an adjusted operating loss1 of $27.8 million, compared with $18.3 million in 2013. During the six-month period, the Corporation reduced capacity on certain markets, resulting in a 3.6% overall decrease in the number of travellers. Capacity on Sun destination routes, meanwhile, was similar to that in 2013. Average selling prices were up, and the euro and pound traded higher against the Canadian dollar. The adjusted operating loss is attributable entirely to the decline in value of the Canadian dollar versus the U.S. dollar.

Revenues of North American business units increased by $27.5 million (1.7%) compared with the same period in 2013. For the six-month period, capacity on Sun destination routes was similar to that of 2013, while transatlantic market capacity was reduced by 6.2%. North American business units recorded an adjusted operating loss1 of $40.7 million, compared with $23.6 million in 2013. The operating loss is attributable entirely to the Corporation’s increased costs following the depreciation of the Canadian dollar against its U.S. counterpart. The operating loss for the six-month period includes a $2.2-million restructuring charge, compared with $3.9 million in 2013.

Revenues of the European business units increased by $25.8 million (9.3%) from 2013, owing to the strength of the euro and pound against the Canadian dollar. Measured in local currencies, these business units’ revenues declined slightly, following the decision to reduce capacity. European activities resulted in an operating loss of $9.9 million, compared with one of $16.5 million for the first six months of 2013.

Financial position

As at April 30, 2014, the Corporation’s free cash totalled $404.6 million, compared with $336.1 million at the same date in 2013. The working capital ratio was 1.04, against 0.98, and deposits from customers for future travel amounted to $540.3 million, compared with $514.7 million a year earlier. Off-balance-sheet agreements stood at $648.6 million as at April 30, 2014, compared with $655.8 million as at October 31, 2013,4 the decrease being attributable to payments made during the period, offset by the increase resulting from the depreciation of the Canadian dollar against the U.S. dollar.

Outlook

The transatlantic market outbound from Canada and Europe accounts for a very significant portion of Transat’s business in the summer. For the period May to October 2014, Transat’s capacity on that market is lower by 1% than that for summer 2013. To date, 65% of that capacity has been sold. Load factors are 2.4% lower and selling prices of bookings taken are approximately 4.3% higher, compared with the same date in 2013. If the Canadian dollar remains at its current value against the U.S. dollar, the euro and the pound, this will result in an increase in operating expenses of 4.4%.

On the Sun destinations market outbound from Canada, Transat’s capacity is higher by 9% than that for the previous year. To date, 49% of that capacity has been sold, load factors are 1% lower, and selling prices are higher.

In France, compared with last year at the same date, medium-haul bookings are ahead by 24%, while long-haul bookings are at a similar level. Variations in the product mix have resulted in a lower average selling price, with no negative impact on the average margin.

To the extent the aforementioned trends hold, the Corporation expects to record satisfying results in the second half, though lower than the record results posted last year.

Cost-reduction and margin-improvement initiatives

The Corporation continues implementing its initiatives to reduce operating costs, improve margins, and make changes to its systems and processes. In April 2013, Transat announced its decision to internalize narrow-body medium-haul aircraft (Boeing 737-800s) for travel outbound from Canada, starting in May 2014. These measures had, as expected, a favorable impact of $20 million on the margin in 2012 and one of $15 million in 2013. The Corporation expects another $20 million in 2014, as well as in 2015, when internalization of the narrow-body fleet will produce its full benefits.

Copyright Photo: TMK Photography/AirlinersGallery.com. In April 2013, Transat announced its decision to internalize narrow-body medium-haul aircraft (Boeing 737-800s) for travel outbound from Canada, starting in May 2014. Formerly operated by Ryanair as EI-CSH, CanJet Airlines’ Boeing 737-8AS C-FTCZ (msn 29923) is pictured operating as Air Transat in their new 2011 colors.

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