Transat Sells its Jonview Canada Business Unit for $44 Million CDN

MONTREAL, Dec. 1, 2017 /CNW Telbec/ - Transat A.T. Inc. today concluded the sale of its Jonview Canada business unit, the country's leading incoming tour operator, for $44 million Cdn to Japanese multinational H.I.S. Co. Ltd., which specializes in travel distribution. The price could be adjusted on the date of final closing of the accounts. On November 10, the Competition Bureau of Canada said the transaction did not warrant its intervention.  

"The sale of Jonview Canada completes our strategic refocusing around three main pillars: air transportation and travel distribution, which make up our leisure travel operations, as well as hotel operation," said Jean-Marc Eustache, President and Chief Executive Officer of Transat. "This transaction is the latest in a series of initiatives we have implemented in recent years to carry out the company's new development strategy and ensure its long-term prosperity."

About Transat
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel. It offers vacation packages, hotel stays and air travel to some 60 destinations in 26 countries in the Americas, Europe and the Middle East. Based in Montreal, the company has 5,000 employees. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 10 years, and was awarded Travelife Partner status in 2016. The vacation travel companion par excellence, Transat celebrates its 30th anniversary in 2017 (TSX: TRZ).

Recent distinctions and awards

Named world's second-best leisure airline at the Skytrax World Airline Awards (2013?2017) and best in North America in the same category (2012-2017)

Placed second among airlines on Forbes magazine's 2017 ranking of Canada's Best Employers

Named one of the Best Corporate Citizens in Canada by the research firm Corporate Knights (2014?2017; 16th in 2017)

Named the number one carrier in North America for energy efficiency by Atmosfair (2011?2016)

Ranked among the Top 10 call centres in North America by BenchmarkPortal (2012 and 2015)

Voted Best Leisure/Charter Airline (2008?2017) and Best Tour Operator (2014?2017), at the Agent's Choice Awards presented by Baxter Travel Media

Voted Best Airline (2013, 2014, 2015 and 2017) and Best Tour Operator (2013, 2015, 2016 and 2017), at the Trophées Uni-Vers awards organized by the Association des Agents de Voyages du Québec

SOURCE Transat A.T. Inc.