Air Transat

it was like i don't feel so good like yeah we had

stuff to car and it would get removed retroactively so we were like on i was on customer service like air canada i'm like this doesn't make sense and we're trying air transat and british airways and all that and we finally made it here and uh i lost my passport today It's like, is it just too good to be true? Or like, what's the...

I don't know what to say.

I have nothing to say.

In any case, thank you for joining me.

I'm very keen to chat with you about Air Transat, not Transat the operator, but Air Transat the airline, and all of the various co-chairs that you're engaging in, which strikes me as a very different kind of strategy.

you're almost spanning the globe with all these agreements that you're making.

But before we get into the details of the various co-chairs, I feel like it's important to just acknowledge the fact that for the industry, for travel advisors, for the airlines, we're going through a difficult time.

The good news, though, is that the demand is still there.

So travelers are still flying to destinations like Europe, South.

They are choosing Air Transat.

We are increasing our load factors.

The money is part of low-interest loans the government has offered airlines to help offset the soaring cost of fuel.

Air Transat's parent company has been given 430 million in financial aid since the Iran war began impacting fuel prices.

Porter Airlines also recently got a $125 million loan.

And a tentative deal has been reached between Jazz Aviation and the union representing its flight attendants.

Air Canada, WestJet, and others responded by reducing service.

This week, the company that operates Air Transat announced it secured its second federal bailout loan, the first for $150 million earlier in the summer, the latest, $250 million.

Porter Airlines has also needed government help.

This is just a, a very difficult time for the entire airline industry, and this industry has had to pivot and pivot and pivot again as we've had these global shocks.

The court also ordered that Unique Driving be paid $10,000 for their legal costs.

Next, the federal government has given $150 million to Air Transat and $125 million to Porter Airlines.

in emergency loans to help pay for jet fuel costs.

The Globe and Mail blames the jump in jet fuel costs on the standoff in the Strait of Hormuz.

That's hurt WestJet and Porter more than it's hurt, um, Air Canada.

Now, and Air Transat is an interesting example.

You mentioned Air Canada, uh, had a deal to merge with, with Transat, which is, think of Transat as, uh, you know, there's Air Transat the airline, but it's owned by a travel agency, which gives them r-rather strong distribution, particularly in the province of Quebec.

So it's a, you know, pretty formidable network.

Um, they fly, you know, the model there is, uh, um, you know, just building on the seasonality challenges that I talked about earlier.

They had to take a big loan, government loan that they only reci-recently had to, you know, renegotiate.

Um, they're still kinda paying that back.

They, uh, Cuba has been a, is a very important market to Air Transat, and they can't fly there right now because of fuel supply issues, et cetera.

The court also ordered that Unique Driving be paid $10,000 for their legal costs.

Next, the federal government has given $150 million to Air Transat and $125 million to Porter Airlines in emergency loans to help pay for jet fuel costs.

The Globe and Mail blames the jump in jet fuel costs on the standoff in the Strait of Hormuz.

Although, as Eric Atkins, the reporter, notes, quote, "Canada is largely self-sufficient in jet fuel, but the commodity is priced on world markets.

Okay.

Flew Air Transat, the

world's

best budget airline.