Transat announces its intention to make use of the Canada Emergency Wage Subsidy and to recall all its employees

MONTREAL, April 16, 2020 /CNW Telbec/ - Transat A.T. Inc. announces today its intention to make use of the Canada Emergency Wage Subsidy and to propose that its 4,000 employees who are currently temporarily laid off return to employment.

On March 23, Transat announced the temporary layoff of 70% of its staff when it was forced by the COVID-19 pandemic to temporarily suspend its flights. Other layoffs followed, eventually totalling 80% of its workforce.

Employees who are recalled will receive 75% of their baseline remuneration as defined in Bill 14: A Second Act Respecting Certain Measures in Response to COVID-19, to a maximum of $847 per week. They will not be required to work as part of their recall.

This measure will both improve Transat employees' compensation conditions and better position the company to more easily resume its regular operations following the crisis.

"Temporarily laying off a large majority of our employees was a necessary but heartbreaking decision," said Transat President and Chief Executive Officer Jean-Marc Eustache. "We are very pleased today to be able to offer them this opportunity. Our employees are Transat's greatest asset and I hope this will bring them some comfort in the face of a situation that is so distressing for all of us."

About Transat
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel. Under the Transat and Air Transat banners, the Corporation offers vacation packages, hotel stays and air travel to some 60 destinations in over 25 countries in the Americas and Europe. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 12 years, and obtained Travelife certification in 2018. Based in Montréal, the Corporation has 5,000 employees (TSX: TRZ).

www.transat.com

SOURCE Transat A.T. Inc.