TRZ.TO - Transat A.T. Inc.
| Previous Close | 7.00 |
| Open | 7.18 |
| Bid | 6.72 x 0 |
| Ask | 6.78 x 0 |
| Day's Range | 6.58 - 7.18 |
| 52 Week Range | 4.68 - 17.00 |
| Volume | 272,071 |
| Avg. Volume | 193,420 |
| Market Cap | 255.17M |
| Beta (5Y Monthly) | 1.47 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.38 |
| Earnings Date | Mar. 12, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Dec. 29, 2008 |
| 1y Target Est | 15.80 |
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (15,075.42, up 161.78 points.)HEXO Corp. (TSX:HEXO). Health care. Up 21 cents, or 23.86 per cent, to $1.09 cents on 22.3 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up 9.5 cents, or 19.59 per cent, to 58 cents on 10.2 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at 49.5 cents on 6.8 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down one cent, or 6.25 per cent, to 15 cents on 5.9 million shares.Freegold Ventures Ltd. (TSX:FVL). Materials. Up six cents or 13.04 per cent, to 52 cents on 5.2 million shares.Enbridge Inc. (TSX:ENB). Energy. Up 19 cents, or 0.43 per cent, to $44.16 on 4.9 million shares.Companies in the news:Transat AT (TSX:TRZ). Down 57 cents or 7.6 per cent to $6.96. Transat AT has extended the timing of its acquisition by Air Canada after European regulators launched an in-depth investigation into the deal over concerns it may reduce competition and result in higher prices. The Montreal-based tour company that owns Air Transat said it informed Air Canada of its decision to delay the transaction date by one month until July 27 following the European Commission's extension to conduct a Phase 2 review. A preliminary European Commission investigation said it is worried the proposed deal could significantly reduce competition on 33 origin and destination city pairs between Europe and Canada.Vermilion Energy Inc. (TSX:VET). Down 25 cents or 3.5 per cent to $6.90. Shares in Vermilion Energy Inc. traded lower on Monday after the company announced the unexpected, immediate departure of its president and CEO Anthony Marino and its decision to go forward without a chief executive. Company chairman and co-founder Lorenzo Donadeo, who was CEO from 2003 to 2016, has been named executive chairman and will head up an executive committee to operate the oil and gas producer, Vermilion said. Curtis Hicks, who served as Vermilion's chief financial officer from 2003 to 2018, has rejoined the company as president, it said.This report by The Canadian Press was first published May 25, 2020.The Canadian PressNote to readers: This is a corrected story. A previous version had an incorrect closing figure for the Toronto Stock Exhange
- Bloomberg
Air Canada’s Bid for Transat Gets Extended EU Merger Probe
(Bloomberg) -- Air Canada’s bid for tour operator Transat A.T. Inc. faces an extended probe from European Union regulators who said the deal may hamper competition by combining the two biggest airlines linking Europe and Canada.The European Commission set a Sept. 30 deadline to rule on the deal, citing concerns that the “transaction could significantly reduce competition on 33” routes, according to an emailed statement on Monday.One potential rival to the combined company, WestJet Airlines Ltd., is unlikely to be able to compete strongly on the routes that regulators see as problematic, the EU said.Montreal-based Transat agreed in August to be acquired for C$18 a share in cash. Shares have since slumped well below that level, suggesting investors are questioning whether the C$720 million ($515 million) deal will happen in light of the coronavirus crisis, which has hammered the prospects for travel companies. They tumbled again on Monday, falling 7.2% to C$6.99 at 3:24 p.m. in Toronto. Air Canada rose 0.8% to C$16.84.Margrethe Vestager, the EU’s antitrust chief, said the pandemic shouldn’t prevent careful scrutiny of deals.“This is a challenging time, especially in markets severely impacted by the coronavirus outbreak, but a return to normal and healthy market conditions must be based on markets that remain competitive,” she said in the statement.Transat is currently reviewing the European Union’s decision to extend its probe into the proposed deal and decided to activate the first one-month extension of the outside date set for the transaction to July 27 from June 27, the company said in a statement.The merger allows for the postponement of the deadline for three one-month periods. If the required approvals are obtained, the deal is expected to close in the fourth quarter of this year, Transat said.A representative for Air Canada didn’t immediately return messages seeking comment.(Updates with Transat’s statement in the penultimate paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- CNW Group
Transat takes note of the continuation of the European Commission's approval process for the transaction with Air Canada
MONTREAL, May 25, 2020 /CNW Telbec/ - Transat A.T. Inc. has taken note of the European Commission's decision to open an in-depth ("Phase 2") investigation to assess the proposed transaction with Air Canada. To take into account the resulting longer delays, Transat has informed Air Canada of its decision to activate the first one-month extension of the outside date set for the transaction, provided for in the Arrangement Agreement. It should also be noted that the transaction is subject to a public-interest assessment conducted by Transport Canada, whose report was submitted on May 1 to the Honourable Marc Garneau, Minister of Transport.
- The Motley Fool
CRA Tax Deductions: 2 Crafty Ways to Reduce Your 2020 Tax Bill
Know the deductions and tax credits available to lighten your financial burden in 2020. Saving on taxes is crucial now that unemployment in Canada is rising. The Transat stock is struggling as the company implements cost-saving measures, including layoffs.The post CRA Tax Deductions: 2 Crafty Ways to Reduce Your 2020 Tax Bill appeared first on The Motley Fool Canada.
- The Canadian Press
Transat to rehire 4,000 employees with federal subsidy as planes remain parked
MONTREAL — Transat A.T. Inc. plans to use the federal emergency wage subsidy to rehire 4,000 employees it had temporarily laid off after halting all flights due to the COVID-19 pandemic.Transat says the employees, 1,900 of whom are flight attendants, will not be required to work as part of their recall.The returning staff will receive 75 per cent of their baseline pay up to a maximum of $847 per week, as defined in federal legislation passed last week."Temporarily laying off a large majority of our employees was a necessary but heartbreaking decision," Transat CEO Jean-Marc Eustache said in a statement.Eustache added that he hopes the announcement will provide some comfort for staff, 80 per cent of whom had been laid off.On March 23, Transat announced it would lay off 3,600 workers as it suspended its entire Air Transat flight schedule, a move followed by 400 other furloughs.Since then the airline business has gone into a further tailspin as closed borders and travel controls cratered demand.The International Air Transport Association predicts revenues will fall by US$314 billion this year, or 55 per cent from 2019.This story by The Canadian Press was first published April 17, 2020.Companies in this story: (TSX:TRZ)The Canadian Press
- CNW Group
Transat announces its intention to make use of the Canada Emergency Wage Subsidy and to recall all its employees
MONTREAL , April 16, 2020 /CNW Telbec/ - Transat A.T. Inc. announces today its intention to make use of the Canada Emergency Wage Subsidy and to propose that its 4,000 employees who are currently temporarily laid off return to employment. On March 23 , Transat announced the temporary layoff of 70% of its staff when it was forced by the COVID-19 pandemic to temporarily suspend its flights. Employees who are recalled will receive 75% of their baseline remuneration as defined in Bill 14: A Second Act Respecting Certain Measures in Response to COVID-19, to a maximum of $847 per week.
- The Motley Fool
CRA Emergency Measures: $55 Billion in Tax Deferrals Earmarked
The CRA is busy as a bee these days helping taxpayers with tax breaks and wage subsidies. The wave of temporary layoffs is also starting in the tourism and travel industry where the Transat stock belongs. The company is among the hardest hit by the outbreak.The post CRA Emergency Measures: $55 Billion in Tax Deferrals Earmarked appeared first on The Motley Fool Canada.
- Yahoo Finance Canada
Refunds for cancelled flights an 'unbearable task', says IATA
Refunding passengers for cancelled flights in the wake of COVID-19 would be an “unbearable task” for cash-strapped airlines as many opt to offer vouchers instead.
- CNW Group
Air Transat donates more than 44,000 masks and 301,000 gloves to the Quebec Ministry of Health and Social Services
MONTREAL , April 2, 2020 /CNW Telbec/ - Air Transat is proud to donate more than 44,000 masks and 301,000 gloves to the Quebec Ministry of Health and Social Services to support the fight against the COVID-19 ...
- Thomson Reuters StreetEvents
Edited Transcript of TRZ.TO earnings conference call or presentation 12-Mar-20 6:30pm GMT
Q1 2020 Transat AT Inc Earnings Call
- CNW Group
Report of the Commissioner of Competition - Transat reiterates its confidence in the transaction with Air Canada, which is currently undergoing a public interest assessment by the federal government
"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.
- CNW Group
Air Transat announces new special flights to Haiti and Honduras, as well as additional flights to El Salvador and Guatemala
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.
- CNW Group
Air Transat will operate special flights to El Salvador and Guatemala in conjunction with the Government of Canada
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, ...
- Yahoo Finance Canada
Airlines will fail in weeks if governments do not intervene, IATA warns
Airlines around the world may collapse and fail if governments do not intervene soon, an industry group is warning.
- The Canadian Press
Travel company Transat AT lays off 3,600 staff, about 70 per cent of workforce
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
- CNW Group
Transat confirms the temporary layoff of 70% of its staff - Repatriation operations to end April 1
MONTREAL , March 23, 2020 /CNW Telbec/ - Transat A.T. Inc. announces that it has temporarily laid off about 70% of its workforce in Canada . 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 .
- Yahoo Finance Canada
Air Transat, Porter cancel flights as airline stocks get pummelled
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.
- CNW Group
Transat announces a gradual suspension of its flights
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 Canadian Press
WestJet flight attendants anticipate sweeping layoffs due to COVID-19
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
- Yahoo Finance Canada
Transport Canada to limit international arrivals to specific airports
Transport Canada is banning cruise ships and restricting the number of airports that will allow overseas international arrivals in response to the coronavirus pandemic.
- Yahoo Finance Canada
‘If we have to lay off people... we will do it:’ Transat CEO
Transat's bookings have fallen around 50 per cent in recent days as passengers stay home due to the coronavirus.
- CNW Group
Transat A.T. Inc. - Results for first quarter of 2020
Adjusted net loss3 of $20.3 million (net loss attributable to shareholders of $33.8 million). Transaction expected to close by the second quarter of the 2020 calendar year if the required regulatory approvals are obtained and conditions are met. Approval process underway in the jurisdictions concerned, particularly in Canada and Europe.
- CNW Group
/R E P E A T -- Media Advisory - Transat A.T. Inc. - Annual Meeting of Shareholders - First Quarter Results 2020/
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 ...
- Yahoo Finance Canada
Coronavirus concerns prompt WestJet to cut capacity, freeze hiring
Canadian airlines are changing cancellation policies, cutting capacity and preparing for deeper impacts as travellers opt to stay home amid the coronavirus pandemic.
