Canada NewsWire
MONTREAL, Nov. 3, 2016
MONTREAL, Nov. 3, 2016 /CNW Telbec/ - Transat A.T. Inc. welcomes
the decision by Honourable Marc Garneau, the federal Transport Minister, to introduce legislation increasing international
ownership limits in Canadian air carriers to 49% of voting share interests from the current 25%.
This proposed amendment to the Canada Transportation Act will ease access to foreign capital with the aim of supporting
development of Canada's aviation industry. It could also eventually lead to the implementation of
a more liberalized air services regime for transatlantic flights between North America and
Europe under the 2009 Air Transport Agreement between Canada and
the European Union.
"We are pleased with the Transport Minister's initiative, which paves the way for greater movement of capital and more
liberalization of air transport markets," said Jean-Marc Eustache, President and Chief Executive
Officer of Transat. He added: "Our airline, Air Transat, is a leader on the transatlantic market, and we view today's development
as potentially facilitating access for our company to attractive commercial opportunities in this important travel sector."
About Transat
Transat A.T. Inc. is an integrated international tour operator with some 25 destination countries and that distributes
products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada,
Europe, Mexico and the Caribbean. Montreal-based Transat is also active in air transportation,
accommodation, destination services and distribution. Transat is a recognized Travelife Partner whose firm commitment to
sustainable tourism development is reflected in its multiple corporate responsibility initiatives. (TSX: TRZ).
SOURCE Transat A.T. Inc.