The Governor in Council does not have a deadline for issuing a decision and there can be no assurance that the transaction with Air Canada will be approved before the outside date. Azur Air Boeing 777-31H ER VQ-BZD (msn 32713) AYT (Andi Hiltl). The amended terms and conditions also include a new requirement to maintain certain minimum levels of unrestricted cash as well as restrictions on the capacity to contract additional loans. Air Malta (2nd) (JAT) Boeing 727-2H9 YU-AKL (msn 22666) ZRH (Rolf Wallner). As at October 31, 2020, there exists material uncertainty that may cast significant doubt on the Corporation’s ability to continue as a going concern. Visit Wagjag before your next flight for promotions and coupon codes … Planning your trip. Finally, to give you more peace of mind when you travel, we’re now offering COVID-19 medical insurance at no extra cost. LONDON – Air Transat (TS) has announced that Institutional Shareholder Services (ISS) and Glass, Lewis & Co. have recommended TS Shareholders to vote for the revised acquisition of Air … Change ), You are commenting using your Google account. Off-balance-sheet arrangements, excluding contracts with service providers, stood at $872.2 million as at October 31, 2020. THE CANADIAN PRESS/Paul Chiasson CALGARY (660 NEWS) … Legault left the company in 1997 with no forewarning after a dispute with business partners, who only found out after the fact. Iraqi Airways Airbus A330-202 YI-AQY (msn 1339) AYT (Arnd Wolf). Avantiair Fokker F.28 Mk. Travel restrictions, uncertainty about when borders will reopen, both in Canada and at certain destinations the Corporation flies to, the imposition of quarantine measures both in Canada and other countries, as well as concerns related to the pandemic and its economic impacts are creating significant demand uncertainty, at least for fiscal 2021. It has also assembled a new comprehensive practical guide full of tips to help travelers prepare for their trips and travel with peace of mind. This change was mainly attributable to a significant decrease in profitability, the acquisition of one replacement engine for the A321neo LR fleet ($16.6 million), partially offset by the $50.0 million drawdown on the revolving credit facility agreement. Note 2 to the consolidated financial statements contains more details on this issue. Alitalia (3rd) (Societa Aerea Italiana) Boeing 777-3Q8 ER EI-WLA (msn 35783) JFK (Robbie Shaw). According to a press release seen by Simple Flying, a new arrangement agreement was signed on October 9th, 2020 at a price of $5.00 per share or 0.2862 Air Canada share for each Air … The Corporation has also reduced its investment expenditures where possible without jeopardizing its future development. Image: 946910. Deposits from customers for future travel amounted to $608.9 million, compared with $561.4 million as at October 31, 2019, an increase of $47.5 million. The Corporation has taken the following measures regarding the COVID-19 pandemic: Since mid-March, restrictions on international travel and government-imposed quarantine measures have made travel sales very difficult. Press the enter key to open the dropdown menu. The Corporation cannot predict all the impacts of COVID-19 on its operations and results, or precisely when the situation will improve. Subsequently, Management and the Board of Directors, agreed on a voluntary temporary reduction in their compensation ranging from 10% to 20%, which was in place until. The transition to Phase II is part of the European Commission’s normal process of assessing the impact of transactions submitted for its approval when it is concerned that a transaction may effectively reduce competition. Image: 948019. Cabo Verde Airlines Boeing 757-236 WL D4-CCF (msn 25808) IAD (Brian McDonough). This context could impact the obtaining of approvals from regulatory authorities, especially regarding the appropriate package of remedies aimed at obtaining those approvals. Transat Tours Canada Inc., doing business as Transat, is a licence holder in Quebec Reg #754241, Ontario Reg #50009485 / 50009486 and British Columbia Reg #2454, with offices at 300 Léo-Pariseau, … The deterioration in our operating results was mainly attributable to a decline in revenues that was greater than the decrease in operating expenses. Framable Prints and Posters. ... 14 October, 2020 - We currently offer flights to … Image: 948273. Image: 948356. With 1406 airlines in the database, … Aero Continente (Chile) Boeing 767-2Q8 ER CC-CJR (msn 24448) MIA (Bruce Drum). Sunworld International Airways (1st) McDonnell Douglas DC-9-31 N741L (msn 47418) TUS (Robert Drum). Image: 946905. Disclaimer. Despite the fall in revenues and the cost reduction measures implemented to deal with the COVID-19 pandemic, the Corporation was obliged to maintain certain fixed costs. Transat investors voted 91% in favor of the revised C$5-per-share bid, which includes the option to take Air Canada shares instead of cash. Air Canada making more cuts across Atlantic Canada – Dec 8, 2020 Transat had been preparing for an uncertain future, taking steps this year to preserve cash amid a huge decline in … Image: 946916. Image: 948548. MONTREAL, Dec. 15, 2020 /CNW Telbec/ - Transat A.T. Inc. ("Transat") is pleased to announce that, at the special meeting of its shareholders (the "Shareholders") held today (the … On March 27, 2020, the Commissioner of Competition released his advisory report to the Minister of Transport further to the Minister’s determination that the proposed arrangement raises issues with respect to the public interest regarding national transportation. mid 2019, Canadian North and Air Greenland announce Letter of Intent, committing to explore opportunities to improve connectivity between Greenland and Canada, Air Canada latest to forewarn more cash burn; looks to raise $850M, Air Canada Announces Amos Kazzaz as Executive Vice President and Chief Financial Officer, Transat’s Shareholders Overwhelmingly Approve the Arrangement with Air Canada, Air Canada Aeroplan points for Wi-Fi on board, Air Canada Wins Prestigious Honours and Awards Across Business Segments, including Customer Service, Employee Engagement, Social Responsibility and Innovation, and Investor Relations Leadership, Flair Airlines Introduces COVID Coverage and Ensures Customers Receive Refunds for Cancelled Flights, Transat Clarifies Situation About Competing Proposals, Lack of Canadian airline support ‘an area of disappointment’: Airbus CEO, Hawaiian Airlines Announces Four New Routes, Weather (United States – National Weather Service), Austral Argentina (Austral Lineas Aereas), CCA-Central Charter Airlines (Czech Republic), Pacific Blue Airlines (flypacificblue.com), SEAA-Serviços Executivos Aéreos de Angola, Sociedad de Servicios Aéreos y Marítimos Archipiélagos, Efforts under way to secure financing to cover needs estimated at, Shareholder approval sought at the meeting of, If the required regulatory approvals are obtained and the conditions are met, the arrangement is expected to close prior to. Air Transat in recent weeks further revised planned operation for the month of September and October 2020, as the airline continues to downsizes operation due to various travel restrictions, based on comparison to the airline’s initial schedule filing in June… Previously announced by the airline, the … Image: 946919. To address the concerns raised by COVID-19 and to ensure your safety and that of our employees, we created Traveller Care, a program featuring new health and safety measures. The special items include impairment charges totalling $86.7 million, comprising $50.8 million for assets related to leased aircraft that will no longer be used until they are returned to the lessors, $32.8 million for the land in Mexico and $3.1 million for the investment in a joint venture. West Atlantic Cargo Airlines (UK) Boeing 737-83N WL BCF G-NPTB (msn 32609) LGG (Ton Jochems). “During the year, we took all necessary actions to limit the damage and preserve our cash. So that you can book with confidence, we’re offering more flexibility to change or cancel your flight or package. The Corporation has implemented a series of operational, commercial and financial measures, including cost reduction, aimed at preserving its cash. 1 The average fleet age is based on our own calculations and … United Airlines Boeing 737-824 SSWL N36272 (msn 31590) (Star Wars – The Rise of Skywalker) SNA (Michael B. Ing). Rabais et codes promos Air Transat - 5 décembre 2020 50% -Promotion Economisez jusqu'à -50% avec les aubaines de dernière minute Voir le rabais. Your Central Hub for the Latest News and Photos powered by AirlinersGallery.com Images. (long distance charges may apply), IMPORTANT: Mandatory before any flight to Canada, Entry requirements of your destination country and information on our operations, Select your language. Jazeera Airways Airbus A320-251N WL 9K-CBB (msn 9002) LGW (Antony J. Closing of the transaction with Air Canada is subject to customary closing conditions, including regulatory approvals, particularly those of authorities in Canada and the European Union. Image: 902983. go! The Corporation is monitoring the situation daily to adjust these measures as it evolves. Air Canada shares issuable under the option of payment in shares will be issued on the basis of a price of $17.47 per Air Canada share, translating into an exchange ratio of 0.2862 Air Canada share per Transat share. Magma Aviation – Air Atlanta Icelandic Boeing 747-481 (F) TF-AMP (msn 24801) HHN (Rainer Bexten). Change ), You are commenting using your Facebook account. The provisional deadline by which the Commission must render its decision is now February 9, 2021. On May 25, 2020, the European Commission decided to open an in-depth (“Phase II”) investigation to assess the transaction with Air Canada with regards to European Union antitrust regulations. Post was not sent - check your email addresses! Transat executives take a hit from reduced value of sale to Air Canada: proxy By The Canadian Press Mon., Nov. 16, 2020 timer 1 min. 0100 D-AOLH (msn 11265) ZRH (Andi Hiltl). As a result of the above factors, the Corporation experienced a significant deterioration in its performance for the year ended October 31, 2020. Sorry, your blog cannot share posts by email. Image: 943157. Customer deposits as at October 31, 2020 included these travel credits amounting to $531.7 million, 43% of which was placed in trust, with the difference representing deposits made directly with Air Transat or foreign subsidiaries. +1-514-906-5196 The Corporation has also been negotiating with its suppliers to benefit from cost reductions and changes in payment terms, and has implemented measures to reduce expenses and investments. This change was mainly attributable to the increase in the current portion of lease liabilities and the decrease in cash and cash equivalents. Image: 103289. Does the thought of going on vacation fill you with joy? Image: 944176. In the current situation, it is impossible for the moment to predict the impact of the COVID-19 pandemic on future bookings, the partial resumption of flight operations and financial results. Following the adoption of the IFRS 16 accounting standard, leases with terms of more than 12 months are now recorded as right-of-use under assets and as lease liabilities under liabilities. For more information and/or to change your current cookie settings, please refer to our Cookies Policy. As it is impossible to assess the pace of recovery or the possible evolution of the pandemic and its effects, the Corporation, similarly to the vast majority of air carriers and other travel industry players, is currently reviewing various opportunities to increase its cash flow. Just Us Air Airbus A321-231 YR-NTS (msn 1153) PMI (Javier Rodriguez). The European Commission released on September 28, 2020 a statement of objections to the arrangement. Air Canada’s offer has been endorsed by Transat’s board of directors but must also be approved by a two-thirds majority vote by Transat’s shareholders at a special meeting set for Dec. 15. AirlinersGallery.com Photostream on Facebook, McDonnell Douglas MD-80 (DC-9-81 – DC-9-87, MD-88), Norwegian Air Argentina - Developments from May 2018 to purchase by Jetsmart Argentina in late 2019, LATAM Argentina suspended operations indefinitely (announced 17Jun20), HISTORICAL INTEREST: Three F-28's that flew with the Armada Argentina (Argentine Navy), ROUTE UPDATES: Aerolineas adds more domestic flights out of EZE and American is flying daily EZE-MIA, HISTORICAL INTEREST: Three F-28's that flew with the FAA as VIP+Presidential Transports, HISTORICAL INTEREST: Five Fuerza Aerea Argentina F-28's that flew as Military Transports / LADE, ROUTE UPDATES: Regularly-scheduled domestic flights resumed in Argentina on 22Oct20 after a seven month suspension, FLEET UPDATE: Fuerza Aerea Argentina continues to operate one F-28, TC-52 (c/n 11074), HISTORICAL INTEREST: Fuerza Aerea Argentina / LADE retired F-27 fleet in September 2016 after nearly 40 years in service, ROUTE UPDATE: KLM replaced 777-300 with 787-9 on Amsterdam (AMS) - Buenos Aires Ezeiza (EZE) - Santiago (SCL) route in approx.
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