|Bid||6.68 x 0|
|Ask||6.74 x 0|
|Day's Range||6.66 - 7.35|
|52 Week Range||4.68 - 17.00|
|Beta (5Y Monthly)||0.68|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar. 11, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec. 28, 2008|
|1y Target Est||15.60|
Air Transat donates more than 44,000 masks and 301,000 gloves to the Quebec Ministry of Health and Social Services
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (13,038.50, up 350.76 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 6.59 per cent, to 42.5 cents on 17.5 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up $2.54, or 15.46 per cent, to $18.97 on 15.6 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up $2.40, or 18.02 per cent, to $15.72 on 15.5 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 17 cents, or 11.64 per cent, to $1.29 on 15.2 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up six cents, or 2.55 per cent, to $2.41 on 11.4 million shares.MEG Energy Corp. (TSX:MEG). Energy. Up 27 cents, or 22.13 per cent, to $1.49 on 11.4 million shares.Companies in the news:Transat AT. (TSX:TRZ). Down 74 cents or 7.8 per cent, to $8.75. The Competition Bureau's warning about Air Canada's proposed takeover of Transat AT Inc., which owns Air Transat, should be taken in context, analysts say. The watchdog said Friday that eliminating the rivalry between the two Montreal-based carriers would discourage competition by prompting higher prices and fewer services. Desjardins Securities analyst Benoit Poirier said he believes the purchase will still be approved "considering the companies' willingness to address the bureau's competition concerns," such as potential dominance of airport slots.Canadian Imperial Bank of Commerce (TSX:CM). Up $1.33 to $79. An Ontario Superior Court judge has ruled against the CIBC in an overtime class-action lawsuit filed more than a decade ago. Judge Edward Belobaba found the bank liable for breaching its overtime obligations to a class of about 31,000 current and former tellers, personal bankers and other front-line workers in branches across Canada.Canadian Apartment Properties Real Estate Investment Trust. (TSX:CAR.UN). down 23 cents to $41.90. Some of Canada's biggest landlords say they're committed to working with tenants who have lost their job because of the coronavirus pandemic. Mark Kenney, CEO of Canadian Apartment Properties Real Estate Investment Trust, says the company is committed to working with those who have suddenly lost their job, and is "violently against" evicting anyone who's in distress.Freshii Inc. (TSX:FRII). Down one cent to $1.23. Freshii Inc. is delaying the filing of its latest financial results as it deals with the COVID-19 pandemic and its impact on its restaurants and franchise partners. The company says it has also temporarily "streamlined its head office workforce" in a move to cut costs. It did not say how many people were affected. Freshii says the COVID-19 pandemic is expected to have a material impact on its business, operations and financial performance for at least the first half of 2020.Parkland Fuel Corp. (TSX:PKI). Up 85 cents or 3.5 per cent to $25.05. Parkland Fuel Corp. is cutting its 2020 capital spending budget by 52 per cent and trimming executive salaries in response to the uncertain economic impact of the novel coronavirus. The Calgary-based company, which sells fuel through more than 2,600 service stations throughout Canada and in the United States and Caribbean, says it plans to spend $275 million this year, down from its earlier guidance of $575 million.Air Canada (TSX:AC). Down 67 cents or four per cent to $1608. Air Canada will temporarily lay off more than 15,000 unionized workers beginning this week as the airline struggles with fallout from the COVID-19 pandemic. The layoffs will continue through April and May amid drastically reduced flight capacity from the Montreal-based airline. Air Canada says the two-month furloughs will affect about one-third of management and administrative and support staff, including head office employees, in addition to the front-line workers.This report by The Canadian Press was first published March 30, 2020.The Canadian Press
"We must look at the Competition Bureau report with a bit of perspective, and not draw any direct conclusions from it with regard to the final decision." MONTREAL, March 27, 2020 /CNW Telbec/ - Transat A.T. Inc. has taken note of the Competition Bureau's advisory report, made public today. This report does not affect the company's confidence in the transaction with Air Canada, which will produce many long-term benefits for all stakeholders.
MONTREAL, March 27, 2020 /CNW Telbec/ - Air Transat, in collaboration with the Government of Canada, announces the deployment of special flights to Haiti and Honduras, as well as more flights to El Salvador and Guatemala in addition to those planned today. "Ever since the tightening of international borders, our flight operations have been dedicated to repatriating travellers to their countries of origin," says Jean-Marc Eustache, President and Chief Executive Officer of Transat. There will be a flight from Guatemala City to Montreal on Sunday, March 29, aboard an Airbus A330-200.
MONTREAL , March 25, 2020 /CNW Telbec/ - Air Transat announces the deployment of two special flights over the next few days to return Canadians stranded in El Salvador and Guatemala back home. These flights, ...
Airlines around the world may collapse and fail if governments do not intervene soon, an industry group is warning.
MONTREAL — Transat AT Inc. has temporarily laid off about 70 per cent of its workforce in Canada, about 3,600 people, as it looks to stop flying on April 1.The decision comes as non-essential travel around the world comes to a standstill as governments close borders in an effort to slow the COVID-19 pandemic."We are very much in agreement with the measures being taken to fight the spread of the virus and protect the public's health," Transat chief executive Jean-Marc Eustache said in a statement."As a community, we have to do what is necessary to stop the pandemic." Transat said Monday some of these layoffs are effective immediately, while others will take effect following advance notice of up to one month. The layoffs include all flight crew personnel.The company said similar measures are being implemented in the other countries where Transat has employees.Executives who are not being laid off have accepted voluntary pay cuts, as have members of its board of directors.Transat said operations are being stopped gradually in order to enable it to repatriate as many of its customers as possible to their home countries."At the same time, in order to safeguard the company, we have unfortunately had to proceed with layoffs that affect a significant portion of our employees," Eustache said."We are doing this with great sadness and we hope that everyone will be able to return to work as quickly as possible.Transat said that by March 22, about 40,000, or more than 60 per cent of its customers, had been returned to Canada.The move by Transat comes as other airlines in Canada slash the number of flights they operate if they are flying at all.WestJet Airlines Ltd. has halved its domestic capacity and cancelled all transatlantic and U.S. routes for 30 days.Air Canada has said the majority of international and transborder flights will be gradually suspended by March 31. Its domestic network will continue to serve all the provinces and territories, but the number of airports will be reduced.Meanwhile, Porter Airlines cancelled flights on all 29 of its planes last week, with plans to resume service June 1.Transat shareholders voted overwhelmingly last year to approve a takeover of the travel company by Air Canada, however the deal still requires regulatory approval.This report by The Canadian Press was first published March 23, 2020.Companies in this story: (TSX:TRZ, TSX:AC) The Canadian Press
The final Air Transat flight prior to the full suspension of its operations is scheduled for April 1. On March 18, as a result of the COVID-19 pandemic, Transat announced the gradual temporary halting of all its flights until April 30. Operations are being stopped gradually in order to enable Transat to repatriate as many of its customers as possible to their home countries.
Canadian airlines continued to suspend service on Wednesday, with Transat and Porter both announcing wide-sweeping cancellations, as Canada and the United States close their shared border to non-essential travel.
MONTREAL , March 18, 2020 /CNW Telbec/ - Transat A.T. Inc. announces today the gradual suspension of Air Transat flights until April 30 . This decision follows the Government of Canada's announcement that the country is closing its borders to foreign nationals, as well as similar decisions by several other countries where Transat operates.
The union representing WestJet flight attendants is expecting layoffs of up to 50 per cent or more of its staff as the number of flight cancellations continues to mount amid the COVID-19 outbreak.An internal CUPE memo sent to union officials and obtained by The Canadian Press says that travellers are rebooking "in such massive numbers that the airline operations are quickly becoming unsustainable."WestJet executive vice-president Mark Porter said the potential layoffs were communicated as "one of several scenarios amongst many" under consideration."The current situation is unprecedented and has escalated rapidly in the past week," Porter said in an email. "Unfortunately, we also have no alternative but to reduce the number of employees."The Calgary-based company's "first and most preferred option" is to ask cabin crew to consider voluntary leaves, unpaid vacation and reduced work time. Other cost-reduction options include cutting back on contractors, freezing capital projects and asking vendors for a discount, he said.Chris Rauenbusch, president of CUPE 4070 — which represents cabin crews at WestJet and its budget subsidiary Swoop — said that daily conversations with senior management alerted him to the increasingly "severe" situation."Basically all new bookings are drying up," he said. "It’s literally changing by the hour."As recently as Wednesday morning, job reductions of only 12 per cent seemed likely, he said, a number that matches WestJet's recent forecasts.Since then, however, the U.S. has implemented a ban on most travel from Europe and declared a national emergency; business trips, large gatherings and daily commutes have dropped off; and institutions from the National Hockey League to Broadway have suspended their seasons.Rauenbusch said one flight from Vancouver to Los Angeles this morning that had booked 150 passengers took off with just 12 on board.He said the full impact of the novel coronavirus epidemic is just starting to sink in, as flight cancellations increase and consumers abandon airports to make a run on toilet paper."We've tried to communicate the gravity of the situation," he said. "I’m not sure reality has set in yet."Transport Minister Marc Garneau said Friday the government plans to restrict the airports that can accept international flights, so people arriving on them can be more closely screened. The list of airports that will be included has not been settled yet, he said. Flight attendants at Air Canada said no word had come down about job reductions."At the moment, we’re not aware of layoffs or anything like that," said Canadian Union of Public Employees spokesman Hugh Pouliot.Canada’s largest airline has seen its stock price plunge by more than half over the past two months. It has suspended flights to mainland China and Italy and cut back routes to Hong Kong, Tokyo and Seoul as travel fears spread with the new virus.In response to the travel bans and cancellations, Delta Air Lines said Friday it will cut passenger-carrying capacity by 40 per cent, the biggest reduction in the carrier's 91-year history.Delta, which is talking with the White House and Congress about potential relief, plans to halt all flights to continental Europe for at least 30 days and ground up to 300 aircraft to save cash.Recent booking fee waivers by Air Canada and WestJet have failed to stem the tide of cancellations or encourage new bookings as countries impose border controls and domestic quarantines.Transat AT Inc., which owns Air Transat — and which Air Canada bought in a deal awaiting regulatory approval — has seen daily bookings plunge by 50 per cent year over year this month, executives said Thursday."Things are moving super-fast at this point," Julie Roberts, who heads CUPE's airline division of 15,000 flight attendants, said in an email Friday.This report by The Canadian Press was first published March 13, 2020.Companies in this story: (TSX:AC, TSX:TRZ)Christopher Reynolds, The Canadian Press
Transport Canada is banning cruise ships and restricting the number of airports that will allow overseas international arrivals in response to the coronavirus pandemic.
Approval process underway in the jurisdictions concerned, particularly in Canada and Europe . MONTRÉAL, March 12, 2020 /CNW Telbec/ - Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada's holiday travel leader, announces its results for the first quarter ended January 31, 2020. "We're satisfied with the improvement in results for the first quarter, even though the coronavirus epidemic makes the rest of the year difficult to predict," stated Jean-Marc Eustache , President and Chief Executive Officer of Transat.
MONTREAL , March 5, 2020 /CNW Telbec/ - Transat A.T. Inc., a leading integrated international tourism company specializing in holiday travel and active in air transportation, accommodation, travel packaging ...