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 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.