Air Transat outlines pandemic mitigation measures for 1H2021

    Air Transat implemented (10-Jun-2021) the following measures to mitigate COVID-19 impacts during 1H2021:

    • Completed efforts to obtain long term financing. Available financing represents a maximum of CAD820 million (USD678.4 million) of which CAD220 million (USD182 million) was drawn as at 30-Apr-2021;
    • Ended 31-Jan-2021 with two A330s and one Boeing 737-800 returned to lessors early;
    • Continuously adjusting flight programme as the situation evolves;
    • Negotiating with suppliers, including aircraft lessors, to benefit from cost reductions and changes in payment terms. Continuing to implement measures to reduce expenses and investments;
    • Continuing to make use of the Canada Emergency Wage Subsidy for its Canadian workforce, which enabled it to finance part of the salaries of its staff still at work and to propose employees temporarily laid off to receive a part of their salary equivalent to the amount of the grant received, with no work required;
    • As at 30-Apr-2021, cash and cash equivalents totalled CAD346.1 million (USD286.3 million). [more – original PR]
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