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Transat receives firm purchase offer from TUI AG for French and Greek tour operating units

Transat A.T., one of the worlds largest integrated tourism companies and Canada’s holiday travel leader, has received a firm offer from TUI AG to purchase its Transat France and Tourgreece tour operating business units for an enterprise value of €54.5m, subject to working capital adjustments at closing. On that basis, Transat has granted exclusivity to TUI AG. The contemplated transaction is subject to approval from anti-trust authorities and obtaining the advisory opinion of Transat’s France Works Council (employees representatives), as mandated by French Law. Closing is expected to take place before October 31st, 2016. Headquartered in Paris, Transat France is the fourth largest integrated tour operator in France, where it operates under the Vacances Transat and Look Voyages brands. Transat established itself as a tour operator in France in the early 80’s, and acquired Look Voyages in 1996. Based in Athens, Tourgreece is an incoming tour operator. Together, Transat France and Tourgreece have 800 employees. Total sales represent approximately €450m. The proposed transaction would have no impact on Transat’s transatlantic program, as well as on the operations, personnel, distribution network and growth strategy of air carrier Air Transat, another business unit of Transat, which operates a number of direct routes between Canada and some 30 European cities, as well as 30 sun destinations in Mexico and the Caribbean from Canada.

Tuesday February 20, 2024
Royal Brunei Airlines has ordered four 787 Dreamliners to revitalise its wide-body fleet
Boeing has announced that Royal Brunei Airlines has ordered four 787 Dreamliners to revitalise its wide-body fleet. The selection of the 787-9 aligns with Royal Brunei Airlines’ focus on long-term growth, sustainability and enhancing passenger comfort. S... Read More »
Tuesday February 20, 2024
Magnetic Group hangar in Tallinn, Estonia
Magnetic Group, a prominent MRO service provider based in Tallinn, Estonia, has chosen to integrate AMOS as its new maintenance and engineering solution from Swiss AviationSoftware (Swiss-AS). This new partnership reflects Magnetic Group’s commitment to ... Read More »
Tuesday February 20, 2024
Contract signing between CALC and CFM International at the Singapore Airshow
China Aircraft Leasing Group Holdings (CALC) has confirmed its commitment to fleet efficiency and sustainability by signing an agreement during the Singapore Airshow 2024 for the purchase of 40 LEAP-1A engines from CFM International. This strategic move aligns... Read More »
Tuesday February 20, 2024
Representatives from Honeywell and ST Engineering at the signing ceremony
ST Engineering’s Commercial Aerospace business is extending its partnership with Honeywell for mechanical, avionics and LEAP engine components service and repair as a member of the Honeywell Channel Partner network. The renewed partnership underscores ST... Read More »
Tuesday February 20, 2024
SIA has selected Trax's eMRO and TraxDoc solutions
Trax, a global provider of digital aviation maintenance and engineering software, has announced a strategic partnership with Singapore Airlines (SIA) for the implementation of its eMRO and TraxDoc solutions. This collaboration aims to support SIA’s advan... Read More »
Tuesday February 20, 2024
Eve has signed supply agreements with Aciturri and Crouzet for eVTOL components
Eve Air Mobility (Eve) has announced two new suppliers for its electric vertical take-off and landing (eVTOL) aircraft. Aciturri will oversee the development and manufacturing of the wing skins, spars, and leading and trailing edges of the wing. Meanwhile, Cro... Read More »
Tuesday February 20, 2024
RB211-535 © StandardAero
StandardAero has achieved certification approval from the Civil Aviation Administration of China (CAAC) for its MRO services on Rolls-Royce RB211-535 turbofan engines. This milestone empowers StandardAero to deliver RB211-535 MRO support to Chinese operators o... Read More »
Monday February 19, 2024
ATR 72-600 aircraft in Silk Avia livery © ATR
Regional aircraft lessor Nordic Aviation Capital (NAC) and ATR, the regional aircraft manufacturer, have jointly announced the successful delivery of the first new ATR 72-600 to Uzbekistan’s airline Silk Avia. This historic milestone marks the commenceme... Read More »
Monday February 19, 2024
Pratt & Whitney (P&W)
Pratt & Whitney (P&W) has officially opened a 48,000 ft² expansion of its Singapore-based engine centre, Eagle Services Asia (ESA). The facility is set to increase its GTF (Geared Turbofan) capacity by two-thirds this year. “This expansion demon... Read More »
Monday February 19, 2024
BAE Systems has acquired Ball Aerospace which will operate under the name Space & Mission Systems © Shutterstock
Following regulatory approvals for the acquisition of Ball Aerospace, BAE Systems has now successfully concluded the acquisition of Ball Aerospace from Ball Corporation. The transaction has been finalised at a purchase price of US$5.5 billion (approximately £... Read More »
Monday February 19, 2024
Representatives of Embraer and CAE at the unveiling of the new CAE 7000XR Series FFS in Singapore © Embraer
Embraer and CAE have officially opened the first E-Jets E2 full-flight simulator (FFS) in the Asia Pacific (APAC) region. This state-of-the-art simulator, located at the Singapore-CAE Flight Training Centre near Changi Airport, is part of the E-Jets E2 trainin... Read More »
Monday February 19, 2024
COMAC’s C919 made its international debut with a fly-by at the Singapore Airshow © AirTeamImages
China’s contender against Airbus and Boeing passenger jets, the narrow-body C919, engineered by the Commercial Aircraft Corporation of China (COMAC), has showcased its capabilities beyond Chinese borders. The aircraft made its international debut with a ... Read More »
Monday February 19, 2024
Travelport and Air Canada have signed a new content distribution agreement
Air Canada has demonstrated robust financial performance in the fiscal year 2023 compared to 2022, with notable improvements across key metrics. The airline’s operating revenues reached CA$21.833 billion, marking a significant 32% increase driven by a 20... Read More »
Friday February 16, 2024
US$35 million will go to Washington Dulles International Airport in Virginia, funding a portion of the construction of a 14-gate, 400,000 ft² terminal building
The Federal Aviation Administration (FAA) is set to distribute US$970 million from President Biden’s Bipartisan Investing in America agenda to 114 airports across the country, covering 44 states and three territories. This announcement, part of the Administr... Read More »
Friday February 16, 2024
Ryanair
Ryanair has solidified its partnership with TUI, a prominent travel company, granting TUI authorisation to include Ryanair flights, seats and baggage options in its holiday packages. This collaboration emphasises a commitment to fair pricing, stipulating that ... Read More »
Friday February 16, 2024
Cargo © Shutterstock
China’s air import tonnages dropped sharply in the final few days leading up to the Lunar New Year (LNY) on February 10, along with intra-Asia Pacific traffic, contributing to a 12% fall in overall global tonnages, week on week, according to the latest figur... Read More »
Friday February 16, 2024
Airbus A321 aircraft © Condor
Condor Flugdienst GmbH (Condor) and Lufthansa Technik (LHT) have signed comprehensive component support agreements for the airline’s new Airbus A32Xneo fleet and extended support for the carrier’s A32Xceo fleet. In addition, Lufthansa Technik will... Read More »
Friday February 16, 2024
PW1100 engine stand
In a strategic move to meet the local demand within the Asia-Pacific region, EngineStands24, a member of Magnetic Group, announced the launch of its latest product line – the highly anticipated PW1100 engine stand. This launch is not just an expansion but a ... Read More »
Friday February 16, 2024
Norwegian Air Shuttle
Norwegian Air Shuttle (Norwegian) has reported its fourth-quarter and preliminary full-year results for 2023, revealing a strong operating profit of NOK 2.23 billion. The full-year operating profit marks the highest in the company’s history, showcasing N... Read More »
Thursday February 15, 2024
Highly qualified Etihad flight crews are now authorised to fly both aircraft types interchangeably after rigorous regulatory approval and extensive training
Etihad Airways, the national airline of the United Arab Emirates, has achieved another key milestone in pilot training and flight operations. After successfully obtaining rigorous regulatory approvals and completing thorough pilot training, Etihad has achieved... Read More »
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