Proceeds to be used to fund operations
MONTREAL, Oct. 30,
2024 /CNW/ - Air Transat, a subsidiary of
Transat A.T. Inc. (the ''Company''), has entered into engine sale
and leaseback agreements for four Pratt & Whitney
GTF1 spare engines with Rolls-Royce & Partners
Finance (RRPF) Engine Leasing Limited. The transactions, valued at
US$85 million, will allow the airline
to increase its liquidity while continuing to use the spare engines
on an as-needed basis to power its A321LR fleet. Three of the
transactions closed on October 29th,
while the fourth is expected to close on or about November 5th. Proceeds from the sales will be
used to fund the Company's operations.
About Air Transat
Founded 36 years ago in Montreal, Air Transat is a leading
travel brand, voted World's Best Leisure Airline by passengers at
the 2024 Skytrax World Airline Awards. Its schedule provides access
to international destinations, primarily in Europe,
the Caribbean, the East coast of the United
States., South America and North Africa. Air Transat
is recognized for its excellent customer service. By renewing its
fleet with some of the most energy-efficient aircraft in their
category, Air Transat is committed to a more sustainable travel
industry. Headquartered in Montreal with major hubs in
YUL Montréal-Trudeau International Airport and Toronto Pearson
Airport (YYZ), the company employs nearly 5,000 employees who share
a common goal of bringing people closer together. Air Transat is a
business unit of Transat A.T. Inc. (TSX:
TRZ). www.transat.com
About RRPF
Rolls-Royce & Partners Finance (RRPF)
was established as a separate business in 1989 by Rolls-Royce and
its financial partners. Today it supports over 70 airlines around
the world from established flag carriers to the big airlines of the
future. RRPF's customers don't just fly Rolls-Royce engines, so it
also provides sale and lease back finance for CFM, Pratt &
Whitney and GE spare engines. Our shareholders are Rolls-Royce and
GATX. www.rrpf-leasing.com
Transat media contact
Andréan
Gagné
Senior Director, Public Affairs and
Communications
andrean.gagne@transat.com
514
987-1616 ext. 104071
Media site and image
bank:
www.transat.com/fr-CA/corporatif/medias
Transat financial analysts
contact
Juliette
Gauthier
Senior Director, Investor
Relations
juliette.gauthier@transat.com
514
987-1616 ext. 104019
RRPF media contact
Ben Hughes
Chief Strategy
Officer
ben.hughes@rolls-royce.com
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1 Geared
Turbofan ('GTF')
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SOURCE Transat A.T. Inc.