Testing The Waters

Transat A.T. Inc. has started a process to see if there are any third parties interested in acquiring its tour operating businesses in France and Greece.

At this time, the company said in a statement, no negotiations have yet been entered into; no assurance can be given that such negotiations will be entered into or that, if and when entered into, that any transaction will be completed.

Transat A.T.’s statement continues: “Should such a transaction take place, it will have no impact on Transat Tours Canada’s transatlantic program or on Air Transat operations and growth, including their presence in France. Transat maintains its growth objectives as a leisure carrier between Europe and Canada.”

It also pointed out that the potential transaction is aligned with the company’s 2015-2017 strategic plan, which emphasizes profitable growth in the Americas through the development of its tour operating, distribution and hotel businesses.

And the statement concludes: “The Company does not intend to provide any further public updates regarding this matter prior to the completion of the process or unless it otherwise determines that disclosure is appropriate.”