Transat gets $100M bailout as debt load mounts despite travel rebound

[777Aviate]

https://montreal.ctvnews.ca/transat-get ... ce=twitter

[FL320]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

[eyebrow737]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

[rookiepilot]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

BARF.

[Localizer]

I wonder why people have no faith in the media? It’s all click bait headlines that couldn’t be anymore misleading.

[FL320]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It’s been done many times for AC and al…
The entire country is failing; won’t change a thing anyway.

[TFTMB heavy]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

[Old fella]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

As a Canadian taxpayer over and above 70 yrs, I have no difficulty with my tax contributions giving your company a loan to help through trying times for the very reasons you outlined

Cheers

[fish4life]

I like AT but I can’t see how they will be able to get themselves out of this debt loss they have incurred. AT has never been profitable enough to get out of a 1.78billion and growing debt obligation.
The best thing they can do is go through CCAA and restructure and get a bunch of the debt off the books so they can build back stronger, if they don’t they are just going to be hamstrung by these debt obligations and fail.

[TFTMB heavy]

I like AT but I can’t see how they will be able to get themselves out of this debt loss they have incurred. AT has never been profitable enough to get out of a 1.78billion and growing debt obligation.
The best thing they can do is go through CCAA and restructure and get a bunch of the debt off the books so they can build back stronger, if they don’t they are just going to be hamstrung by these debt obligations and fail.

Only time will tell. New management is taking the company down a different path with a very different business plan.

[TFTMB heavy]

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

As a Canadian taxpayer over and above 70 yrs, I have no difficulty with my tax contributions giving your company a loan to help through trying times for the very reasons you outlined

Cheers

Cheers right back kind sir!

[eyebrow737]

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

As a Canadian taxpayer over and above 70 yrs, I have no difficulty with my tax contributions giving your company a loan to help through trying times for the very reasons you outlined

Cheers

Transat hasn't been doing well for years. There will always be an excuse. This is not the first loan they have received. $700 million just a year ago. When does it stop?

The government should not be in the business of propping up people and businesses that do not manage their affairs well.

The government should be in the business of ensuring companies can be lean, efficient and competitive on the world stage that will attract more business to Canada with low taxes.and better products and services.

This has the reverse effect.

I'm not just picking on Transat, personally, I like flying with them and their customer service isn't bad. I'm talking about all companies (and people) that constantly have their hand out when times get tough.

There is a reason the customer service is so shitty, the fares per revenue mile so high, and the wages half of most other places in the world.

No fear of failure. No drive to compete.

Just hold out my hand when times get tough.

My employer is one of the biggest offenders.

[DanWEC]

Transat is turning into a very different company with a completely different structure, plan and business model.
It was very, very fundamentally antiquated and with a completely new C-suite it's taking a completely new direction. Comparing past benchmarks to current and forecasted performance is apples to oranges. They would have actually been profitable in Q2 2022, despite a reduced fleet and 85% bookings compared to 2019, but was hit with fuel prices of which they couldn't pass down and had to absorb because to advance bookings. So that potential alone speaks volumes about the new structure.
I hope they can persevere, and the financial institutions seem to like the new strategies. Time will tell.

[rudder]

Transat is turning into a very different company with a completely different structure, plan and business model.
It was very, very fundamentally antiquated and with a completely new C-suite it's taking a completely new direction. Comparing past benchmarks to current and forecasted performance is apples to oranges. They would have actually been profitable in Q2 2022, despite a reduced fleet and 85% bookings compared to 2019, but was hit with fuel prices of which they couldn't pass down and had to absorb because to advance bookings. So that potential alone speaks volumes about the new structure.
I hope they can persevere, and the financial institutions seem to like the new strategies. Time will tell.

You cannot run away from a bad balance sheet. That is where TRZ finds itself. Too much debt.

It will need to refinance/replace the govt loans before the interest rate escalation clause kicks in.

Eventually CCAA will have to be at least strategically considered. However, I am guessing that under the terms of the Fed loans that they are likely first priority payee. Existing TRZ shareholders should be first casualty.

I am certain that the QC govt would be more than happy to become a part owner of TRZ.

[rookiepilot]

I like the title: it means the new financial team is doing a great job. Unfortunately we can’t share corporate info but now I am confident to say that Air Transat is here to stay; guaranteed

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

HAHAHAHAHAHAHAHAAHAHAAHHAHAHAAHAHAHAHAHAHHAHA"…………..,!!!

[rookiepilot]

Glad you appreciate the taxpayer propping up your failing and weak businesses.

Canada, where we allow natural selection to fail by allowing, nay encouraging, businesses to continue to rape the consumers...paid for by the consumers.

It's a loan. How is this costing the taxpayers anything when the return on the investment is 5%-8%, keeps people off of EI and generates tax revenues?

As a Canadian taxpayer over and above 70 yrs, I have no difficulty with my tax contributions giving your company a loan to help through trying times for the very reasons you outlined

Cheers

How much tax are you paying?

[rookiepilot]

Transat is turning into a very different company with a completely different structure, plan and business model.
It was very, very fundamentally antiquated and with a completely new C-suite it's taking a completely new direction. Comparing past benchmarks to current and forecasted performance is apples to oranges. They would have actually been profitable in Q2 2022, despite a reduced fleet and 85% bookings compared to 2019, but was hit with fuel prices of which they couldn't pass down and had to absorb because to advance bookings. So that potential alone speaks volumes about the new structure.
I hope they can persevere, and the financial institutions seem to like the new strategies. Time will tell.

Why didn’t they hedge fuel prices when oil prices went negative?? Talk about a no brainer.

Come on guys…..its Bombardier redux. We’ve all Heard this before. The permanent Quebec bailouts…..again and again and again.

Must keep them voting LibTard…..

[Aviatard]

It's amazing Canadians put up with being labelled like that.

Must keep them voting LibTard…..

And hey — LibTard voting TROLLS.

So you’re against people using labels except when you’re doing the labelling?

[rookiepilot]

It's amazing Canadians put up with being labelled like that.

Must keep them voting LibTard…..

And hey — LibTard voting TROLLS.

So you’re against people using labels except when you’re doing the labelling?

You’re saying calling Liberal Voters LibTards, (and Conservative voters Con’s) —both tongue in cheek — is equivalent to our elected leadership calling everyone who doesn’t agree with them, Racist Homophobic Misogynistic purveyors of hate speech? And have completely normalized the usage of such characterizations against their political opponents and their families?

You, and others, have tacitly defended this on this site. Partially by not condemning it.

Silence = agreement.

I’d consider carefully what you are saying.

[Aviatard]

It's amazing Canadians put up with being labelled like that.

Must keep them voting LibTard…..

And hey — LibTard voting TROLLS.

So you’re against people using labels except when you’re doing the labelling?

You’re saying calling Liberal Voters LibTards, (and Conservative voters Con’s) —both tongue in cheek — is equivalent to our elected leadership calling everyone who doesn’t agree with them, Racist Homophobic Misogynistic purveyors of hate speech?

You’re deflecting again. You said labelling is bad then you go on to label people. You’re once again every thing you cause other people of. You’re a hypocrite.

[rookiepilot]

So you’re against people using labels except when you’re doing the labelling?

You’re saying calling Liberal Voters LibTards, (and Conservative voters Con’s) —both tongue in cheek — is equivalent to our elected leadership calling everyone who doesn’t agree with them, Racist Homophobic Misogynistic purveyors of hate speech?

You’re deflecting again. You said labelling is bad then you go on to label people. You’re once again every thing you cause other people of. You’re a hypocrite.

I consider them completely different, but you’re entitled to your view.

I consider my government’s broad brushed labeling as having crossed a very serious line — all joking aside. And that goes for their supporters. Enough that i had two long conversations with my Liberal MP’s office about it.

A Lot of Canadians agree with me, and the poll numbers prove it, with that very issue front and center.

You are free to disagree.

[fish4life]

I like AT but I can’t see how they will be able to get themselves out of this debt loss they have incurred. AT has never been profitable enough to get out of a 1.78billion and growing debt obligation.
The best thing they can do is go through CCAA and restructure and get a bunch of the debt off the books so they can build back stronger, if they don’t they are just going to be hamstrung by these debt obligations and fail.

Only time will tell. New management is taking the company down a different path with a very different business plan.

It might be a different business plan but by the point they are able to start servicing that debt it will be around 10% interest so they are going to need to be making 200 million / year extra just to service the debt which 200 million a year in profit for AT would be an incredible feat

[TFTMB heavy]

I like AT but I can’t see how they will be able to get themselves out of this debt loss they have incurred. AT has never been profitable enough to get out of a 1.78billion and growing debt obligation.
The best thing they can do is go through CCAA and restructure and get a bunch of the debt off the books so they can build back stronger, if they don’t they are just going to be hamstrung by these debt obligations and fail.

Only time will tell. New management is taking the company down a different path with a very different business plan.

It might be a different business plan but by the point they are able to start servicing that debt it will be around 10% interest so they are going to need to be making 200 million / year extra just to service the debt which 200 million a year in profit for AT would be an incredible feat

It will not be easy that's for sure but it's a step in the right direction.

[TFTMB heavy]

Transat is turning into a very different company with a completely different structure, plan and business model.
It was very, very fundamentally antiquated and with a completely new C-suite it's taking a completely new direction. Comparing past benchmarks to current and forecasted performance is apples to oranges. They would have actually been profitable in Q2 2022, despite a reduced fleet and 85% bookings compared to 2019, but was hit with fuel prices of which they couldn't pass down and had to absorb because to advance bookings. So that potential alone speaks volumes about the new structure.
I hope they can persevere, and the financial institutions seem to like the new strategies. Time will tell.

Why didn’t they hedge fuel prices when oil prices went negative?? Talk about a no brainer.

Come on guys…..its Bombardier redux. We’ve all Heard this before. The permanent Quebec bailouts…..again and again and again.

Must keep them voting LibTard…..

They did hedge fuel.

A lot of your posts are the equivalent of a monkey throwing his feces.

[rookiepilot]

Transat is turning into a very different company with a completely different structure, plan and business model.
It was very, very fundamentally antiquated and with a completely new C-suite it's taking a completely new direction. Comparing past benchmarks to current and forecasted performance is apples to oranges. They would have actually been profitable in Q2 2022, despite a reduced fleet and 85% bookings compared to 2019, but was hit with fuel prices of which they couldn't pass down and had to absorb because to advance bookings. So that potential alone speaks volumes about the new structure.
I hope they can persevere, and the financial institutions seem to like the new strategies. Time will tell.

Why didn’t they hedge fuel prices when oil prices went negative?? Talk about a no brainer.

Come on guys…..its Bombardier redux. We’ve all Heard this before. The permanent Quebec bailouts…..again and again and again.

Must keep them voting LibTard…..

They did hedge fuel.

A lot of your posts are the equivalent of a monkey throwing his feces.

Would my posts improve if I supported bailouts for Quebec companies?