Transat AT seeking additional government funding after reporting $114.3M Q1 loss

[rudder]

Yep, if there is one thing for certain it’s that Transat finally has AC right where they want them. Annik was just pleading for government money to keep the lights on in order to lull big red into a false sense of security.

So true. SWG and TRZ both have serious cash flow problems. SWG did a deal to keep the lights on. TRZ will have to do the same.

AC did not want TRZ even when it was (effectively) for free. Now it is loaded with even more debt at more outrageous interest rates. In addition, EU requirements would have more than defeated any benefits to AC.

I don’t see a scenario where AC kicks the tires at TRZ again unless the EU backs down. Why would the EU want to disadvantage it’s own carriers? Unlikely.

[columbia]

Yep, if there is one thing for certain it’s that Transat finally has AC right where they want them. Annik was just pleading for government money to keep the lights on in order to lull big red into a false sense of security.

So true. SWG and TRZ both have serious cash flow problems. SWG did a deal to keep the lights on. TRZ will have to do the same.

AC did not want TRZ even when it was (effectively) for free. Now it is loaded with even more debt at more outrageous interest rates. In addition, EU requirements would have more than defeated any benefits to AC.

I don’t see a scenario where AC kicks the tires at TRZ again unless the EU backs down. Why would the EU want to disadvantage it’s own carriers? Unlikely.

There’s no way TRZ will repay that debt. They already are in the works of refinancing , the LEFF was a temporary band aid. Once that loan is written off / tRZ gets bailed out, and AC is back making huge profits, TRZ will be in acquisition territory. Market will have to consolidate. AC/TS was a good plan before covid, will be a good one post covid once things improved.

[Sharklasers]

Yep, if there is one thing for certain it’s that Transat finally has AC right where they want them. Annik was just pleading for government money to keep the lights on in order to lull big red into a false sense of security.

So true. SWG and TRZ both have serious cash flow problems. SWG did a deal to keep the lights on. TRZ will have to do the same.

AC did not want TRZ even when it was (effectively) for free. Now it is loaded with even more debt at more outrageous interest rates. In addition, EU requirements would have more than defeated any benefits to AC.

I don’t see a scenario where AC kicks the tires at TRZ again unless the EU backs down. Why would the EU want to disadvantage it’s own carriers? Unlikely.

I think we are mostly singing from the same sheet of music here. Transat is a sick dog, if left solely to market forces it would have been put to sleep long ago. They were circling the drain for the better part of a decade and now there is no realistic return to profitability without outrageous government intervention that in other countries would require some level of nationalization.

However I remain firmly convinced that the government is going to write down that debt just as soon as they think they have the political capital to get away with it. As part of it Trudeau will reach deep into his tickle trunk and assemble a costume that appeals to his European overlords and will get those pesky EU restrictions thrown out, likely in some sort of misguided quid pro quo that puts Canadian Aviation further behind. I think it’s the right path forward, I support the Transat bailout in whatever form it takes and I’ll ink the cheque for my taxpayer portion of that bill with a smile on my face if it serves to keep pilots like TFTMB and FL320 off my list.

[Hangry]

I support the Transat bailout in whatever form it takes and I’ll ink the cheque for my taxpayer portion of that bill with a smile on my face if it serves to keep Transat pilots like TFTMB and FL320 off my list.

Amen

[DanWEC]

Oh good, this again. Very classy to post trashing a companies' pilots in their own sub-forum. Especially ones that are facing possible unemployment.
Man, I cringe when I think of the thousands of people that come across this entirely public site curious about all aspects of aviation, and what they must think once they start reading.

[Hangry]

Oh good, this again. Very classy to post trashing a companies' pilots in their own sub-forum. Especially ones that are facing possible unemployment.
Man, I cringe when I think of the thousands of people that come across this entirely public site curious about all aspects of aviation, and what they must think once they start reading.

I wouldn’t worry about it. Most pilots don’t come on this website. Let alone the “general public”.

[Sharklasers]

Oh good, this again. Very classy to post trashing a companies' pilots in their own sub-forum. Especially ones that are facing possible unemployment.
Man, I cringe when I think of the thousands of people that come across this entirely public site curious about all aspects of aviation, and what they must think once they start reading.

If a single Transat pilot permanently loses their job I will eat my hat.

I would never trash Transat pilots as a whole either. I’d be happy to fly with you Dan, I think your doing gods work with the whole visa push.

[JoeyBarton]

Does anybody have the new TS payscales?

[TFTMB heavy]

Does anybody have the new TS payscales?

The one Capt Keith posted in his video is up to date.

[redbusdriver]

I support the Transat bailout in whatever form it takes and I’ll ink the cheque for my taxpayer portion of that bill with a smile on my face if it serves to keep Transat pilots like TFTMB and FL320 off my list.

Amen

let them go under, still won't have to worry about them coming here

[Sharklasers]

I support the Transat bailout in whatever form it takes and I’ll ink the cheque for my taxpayer portion of that bill with a smile on my face if it serves to keep Transat pilots like TFTMB and FL320 off my list.

Amen

let them go under, still won't have to worry about them coming here

Lame.
We shouldn’t wish that on others. There were a couple bad Transat pilots gloating and insulting and gaslighting during the SLI talk but they have been almost completely silent since the merger was iced last April. Since then it’s almost exclusively AC pilots being shitty like we won something but in reality we just got really lucky. On the whole Transat pilots are just guys who go to work to put food on their families tables just like us.


Transat’s survival is very good for AC pilots for several reasons as well;

They have demonstrated an ability to make contract gains, the dream would to one day have 3 ‘mainline’ airlines of comparable WAWCON to bench mark off each other in negots and arbitration like the yanks do. Right now ACPA has to try to part the seas themselves without the ability to strike and unable to convince an arbitrator to use foreign comparables and we have seen the result time after time.

600 1%er Quebec jobs will not be allowed to vanish, will not be kicked to the curb, they will end up on someone’s list somewhere.

A reasonably functional Transat occupying 25% of the VFR market is probably better for AC than them folding up- Westjet and AC sitting ontop of 100% of that market and the government being compelled to do something silly like allowing full open sky’s where the US carriers can come in and pick off just our most profitable routes.

[TFTMB heavy]

I support the Transat bailout in whatever form it takes and I’ll ink the cheque for my taxpayer portion of that bill with a smile on my face if it serves to keep Transat pilots like TFTMB and FL320 off my list.

Amen

let them go under, still won't have to worry about them coming here

Classy!

[Latitude]

Amen

let them go under, still won't have to worry about them coming here

Classy!

That guy is an idiot. He's saying the same crap on WS acquisition of SW. A troll.

[TFTMB heavy]

let them go under, still won't have to worry about them coming here

Classy!

That guy is an idiot. He's saying the same crap on WS acquisition of SW. A troll.

Funny you say that. If you look at his past posts he/she doesn't look like a troll, more like an idiot.

[redbusdriver]

to say i am a troll or idiot because you don't share my view is like calling everyone a nazi that you don't like. fact is, i remember the gloat and disgusting things that transat pilots said a couple years ago. further, imo, any company buying out another, should have those being bought subjected to botl. your jobs are being saved, be grateful.

[DanWEC]

Oh good, this again. Very classy to post trashing a companies' pilots in their own sub-forum. Especially ones that are facing possible unemployment.
Man, I cringe when I think of the thousands of people that come across this entirely public site curious about all aspects of aviation, and what they must think once they start reading.

If a single Transat pilot permanently loses their job I will eat my hat.

I would never trash Transat pilots as a whole either. I’d be happy to fly with you Dan, I think your doing gods work with the whole visa push.

All good. Thanks. I wish it was progressing better, but every month I get more suspicious of a handshake agreement to prevent movement. As for losing jobs... I hope not, but I'm not optimistic. I made an ill-timed move to TS myself just pre-pandemic. I swapped airlines for a lifestyle improvement. Absolutely amazing company and culture, but because of it I haven't worked in 2 years besides starting a construction business. Feels pretty bleak, and not a great spot to be in for a guy who already started a bit late as a second career. Might even be time to jump ship to one of the startups.

redbusdriver- You sound like you've been around too much lead paint.

[boeingboy]

SWG did a deal to keep the lights on.

That's a good one. Please don't try and throw us in the same category as TS.

[TFTMB heavy]

SWG did a deal to keep the lights on.

That's a good one. Please don't try and throw us in the same category as TS.

Wow, we're taking shots on all fronts.

[Localizer]

Kinda sums up pilots as a whole …

[Localizer]

I think it’s pathetic that as a country we put the stranglehold on all businesses .. mom and pop shops, not just airlines .. and now companies that were profitable or had big money in the bank are now treading water to survive. In the case of airlines, the government “saved the day” with loans that have back breaking interest rates attached .. oh and a piece of the action too! A Shylock would have been more favourable ..