Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.
Air Transat completes sale and leaseback transactions of four engines
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 GTF 1 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
_________________________ |
1 Geared Turbofan ('GTF') |
SOURCE Transat A.T. Inc.
