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MONTREAL, Jan. 12, 2016 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation") (TSX: TRZ) has initiated a process by which the Corporation is seeking indications of interest from third-parties that could lead to the sale of certain of the Corporation's assets outside Canada, namely its tour operating business units in France and Greece. At this time, no negotiations have yet been entered into; no assurance can be given that such negotiations will be entered into or that, if and when entered into, that any transaction will be completed.
Should such a transaction take place, it will have no impact on Transat Tours Canada's transatlantic program or on Air Transat operations and growth, including their presence in France. Transat maintains its growth objectives as a leisure carrier between Europe and Canada.
The potential transaction is aligned with the company's 2015-2017 strategic plan, which emphasizes profitable growth in the Americas, through the development of its tour operating, distribution and hotel businesses.
The Company does not intend to provide any further public updates regarding this matter prior to the completion of the process or unless it otherwise determines that disclosure is appropriate.
Transat is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin. Montreal-based Transat is also active in air transportation, destination services, accommodation and distribution.
Forward-Looking Statements
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Corporation, may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.
For more information on the risks, uncertainties and assumptions, please also refer to the Corporation's public filings available at www.sedar.com and www.transat.com. In particular, further details and descriptions of these and other factors are disclosed in the Annual MD&A under the "Risks and uncertainties" section and in the "Risk factors" section of the Corporation's current Annual Information Form. The forward-looking statements in this news release reflect the Corporation's expectations as at January 12, 2016, and are subject to change after this date. The Corporation expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.
SOURCE Transat A.T. Inc.
Source: Transat A.T. Inc. (www.transat.com); Media: Michel Lemay, 514 987-1616, ext. 4523; Financial analysts: Denis Pétrin, Chief Financial Officer, 514 987-1660