Air Transat considering 80-person layoff amid financial turbulence

[Sharklasers]

I agree whole heartedly. The liberals have shown time and time again with WE, Aga Kahn, SNC, Arrive Can, green slush fund etc that they have absolutely zero qualms about stealing tax payer funds to enrich their friends. Somehow, in defiance of basic logic some people in this thread now think that now suddenly; when the liberals have nothing left to lose, they will grow a conscience and turn off the money taps for Transat? A Quebec based company with a long and documented relationship with the political elite?

I think part of the reason that Transat is so poorly run, being one of the only airlines to lose money during the pre pandemic golden era is that they have no incentive to be better.

[Localizer]

I think part of the reason that Transat is so poorly run, being one of the only airlines to lose money during the pre pandemic golden era is that they have no incentive to be better.

I couldn’t agree more …

[Babar350]

I think AC or worst-case scenario Porter will buy TS.
French Bee is adding capacity from Paris Orly, Corsair added capacity, Air France added flights during the summer, Iberia as well as Avianca.

I won't be surprised if AC leverages this to buy TS.

Time will tell.

[Sharklasers]

A merger with AC wouldn’t even be the end of the world that it looked like before Covid. When the merger was announced AC had 3600 pilots. A percentage based merger would place transats 50% guy hired in 2008 with ACs 1997 hires. Now that AC has grown 2000 pilots and retired the top quarter of the list ACs 50% guy is a 2016/2017 hire.

[8895]

So we just completely glossing over the fact that regulators blocked the AC purchase of AT before? LMFAO

[Babar350]

So we just completely glossing over the fact that regulators blocked the AC purchase of AT before? LMFAO

You absolutely have no clue of what exactly happened.

[cdnavater]

So we just completely glossing over the fact that regulators blocked the AC purchase of AT before? LMFAO

You absolutely have no clue of what exactly happened.

You do?

[Tbayer2021]

No body knows what happened. The only truth that can be counted on is that the attempted purchase and subsequent cancelation happened a few years ago. A lot can change in a few years.

[DanWEC]

It's well known and documented that the European Commision required a hefty amount of concession from AC due to the consolidation of a majority of trans-Atlantic traffic. Mostly in the form of relenquishing their own routes to competition. Despite approval from the Competition Bureau of Canada and months of negotiations the conditions were ultimately more than AC could reasonably be expected to comply with. The imposed encumberment allowed AC to cancel the acquisition and pay an exit fee to Transat.

It's no secret, so, what exactly happened then?

[Tbayer2021]

No body knows what happened. The only truth that can be counted on is that the attempted purchase and subsequent cancelation happened a few years ago. A lot can change in a few years.

The newbie flap operator opines on complex financial transactions.

We all stop and pay close attention.

Flap operator or not, a position we all know here you're very envious of. Why else hang out with professional pilots when one isn't one?

Still not over that pilot cutting in front of you, eh?

[rookiepilot]

No body knows what happened. The only truth that can be counted on is that the attempted purchase and subsequent cancelation happened a few years ago. A lot can change in a few years.

The newbie flap operator opines on complex financial transactions.

We all stop and pay close attention.

Flap operator or not, a position we all know here you're very envious of. Why else hang out with professional pilots when one isn't one?

Still not over that pilot cutting in front of you, eh?

No, you amuse me. Every thread. Didn’t know you were an expert on M&A, or friends with the board of either company. I’m mocking you.

Come to my Twitter feed, and share your business expertise.

Then dozens of people can make fun of you.

The alternative. Keep your mouth shut. Do what you’re told, when you’re told.

Cause that is gonna be your life.

[Tbayer2021]

The newbie flap operator opines on complex financial transactions.

We all stop and pay close attention.

Flap operator or not, a position we all know here you're very envious of. Why else hang out with professional pilots when one isn't one?

Still not over that pilot cutting in front of you, eh?

No, you amuse me. Every thread. Didn’t know you were an expert on M&A, or friends with the board of either company. I’m mocking you.

Come to my Twitter feed, and share your business expertise.

Then dozens of people can make fun of you.

I amuse you? Is that why you went ballistic a while ago and got you a temporary ban? Because I amuse you?

I'll come to your twitter feed if you come to reddit and post your flying experience so thousands of people can make fun of you.

[rookiepilot]

Professional pilot, TBAYER.

Heading to Bangkok soon?

viewtopic.php?p=1321352#p1321352

[Tbayer2021]

Professional pilot, TBAYER.

Heading to Bangkok soon?

viewtopic.php?p=1321352#p1321352

Question. Why do you even want me on your twitter feed anyways? None of your predictions here have exactly panned out. Is that what I can look forward to on your twitter? More bad investment/business advice to your dozen followers?

Talk about the blind leading the blind.

[Localizer]

You two need to get a room and break this sexual tension you have for one another.

Or maybe just PM each other because the rest of us couldn’t care less who wins your dick measuring contest.

[rookiepilot]

You two need to get a room and break this sexual tension you have for one another.

Or maybe just PM each other because the rest of us couldn’t care less who wins your dick measuring contest.

NP. My Apologies.

[330heavy]

Back on topic. No one is buying Air Transat, not with the current debt. Porter doesn't have the funds, and Air Canada won't due to EU demands, and not WestJet due to competition laws. Currently, management is on a course to right the ship, renegotiate loan terms, and be more efficient. If however, there were to be a CCAA, the restructure should leave TS better able to make sustained profits and thus standalone with partnerships/JVs. Could there be a suitor to buy or take a share at anytime or after? Sure. Like anything, time will tell, but I'm confident Air Transat will survive.

[Brakefans]

I can see it go a bit like when Lynx went under. Orderly shutdown, 2-3 airlines divvy up the A321/A330 fleet directly with lessors and PKP steps in to buy the Transat brand for a relaunch. Pilots get hired by AC/WS/Porter and life goes on.

[cdnavater]

I can see it go a bit like when Lynx went under. Orderly shutdown, 2-3 airlines divvy up the A321/A330 fleet directly with lessors and PKP steps in to buy the Transat brand for a relaunch. Pilots get hired by AC/WS/Porter and life goes on.

That’s not a good outcome for the pilots, year 1 at any of the above is a step back for anyone over year 1 at AT

[Localizer]

If the government wants to get serious about competition in Canada, they need to change the foreign ownership rules. I realize they’ve increased it to 49%, but nobody will invest unless they have a controlling interest.

I couldn’t care less who owns the company as long as the pay cheque keeps coming. I think there would be a lot of interest in the US/Europe.

I’m also holding on to hope a new government will review the current airport scam, errr scheme. All airlines are getting soaked by high rent and landing fees. Time for the government to quit using the aviation sector as an ATM machine.

[330heavy]

If the government wants to get serious about competition in Canada, they need to change the foreign ownership rules. I realize they’ve increased it to 49%, but nobody will invest unless they have a controlling interest.

I couldn’t care less who owns the company as long as the pay cheque keeps coming. I think there would be a lot of interest in the US/Europe.

I’m also holding on to hope a new government will review the current airport scam, errr scheme. All airlines are getting soaked by high rent and landing fees. Time for the government to quit using the aviation sector as an ATM machine.

+1 good sir

[hithere]

Transat is never, ever going away. Yes it may enter CCAA but it will never be liquidated. Anyone suggesting liquidation of Transat has not been the aviation industry in Canada long enough or has not been paying attention . Just like AC will never be liquidated because of its size/flag carrier status/former crown corporation legacy status, Transat will survive either with or without CCAA because of its status in Quebec and the Quebec government’s influence/ability to prop it up.

[safetyfirst123]

Transat is never, ever going away. Yes it may enter CCAA but it will never be liquidated. Anyone suggesting liquidation of Transat has not been the aviation industry in Canada long enough or has not been paying attention . Just like AC will never be liquidated because of its size/flag carrier status/former crown corporation legacy status, Transat will survive either with or without CCAA because of its status in Quebec and the Quebec government’s influence/ability to prop it up.

This is a dangerous sentiment, be careful because once things start down a certain path they happen fast.

[hithere]

Transat is never, ever going away. Yes it may enter CCAA but it will never be liquidated. Anyone suggesting liquidation of Transat has not been the aviation industry in Canada long enough or has not been paying attention . Just like AC will never be liquidated because of its size/flag carrier status/former crown corporation legacy status, Transat will survive either with or without CCAA because of its status in Quebec and the Quebec government’s influence/ability to prop it up.

This is a dangerous sentiment, be careful because once things start down a certain path they happen fast.

Perhaps you think I work for Transat and am in denial. I do not work for Transat so there is no “hopeful bias”. I have , however, been in the industry for 30 plus years, and these have been my observations as Transat survives in situations where other carriers have failed.

[cdnavater]

Transat is never, ever going away. Yes it may enter CCAA but it will never be liquidated. Anyone suggesting liquidation of Transat has not been the aviation industry in Canada long enough or has not been paying attention . Just like AC will never be liquidated because of its size/flag carrier status/former crown corporation legacy status, Transat will survive either with or without CCAA because of its status in Quebec and the Quebec government’s influence/ability to prop it up.

This is a dangerous sentiment, be careful because once things start down a certain path they happen fast.

Perhaps you think I work for Transat and am in denial. I do not work for Transat so there is no “hopeful bias”. I have , however, been in the industry for 30 plus years, and these have been my observations as Transat survives in situations where other carriers have failed.

Difference now being a political environment where every move of the parties is under heavy scrutiny, the Liberals are falling way behind in the polls, saving a Quebec company could ultimately end up with so few seats in parliament they don’t have party status, so feds are likely out!
Would the province step in, possibly but I wouldn’t just count on that, I believe they already have some ownership in AT, we are talking about a company who couldn’t make a profit while a company that has more managers per employees than any other company made a couple billion!
I think the only thing that will get some investment, is a trip through restructuring but again, this doesn’t guarantee the debt sheet is wiped, renegotiated is more likely. Has the tipping point occurred where they can’t come back, time will tell