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Press release from CNW Group

Transat A.T. Inc. - Air Transat and its pilots reach a pact that extends and amends the collective agreement

Tuesday, May 01, 2012

Transat A.T. Inc. - Air Transat and its pilots reach a pact that extends and amends the collective agreement15:00 EDT Tuesday, May 01, 2012MONTREAL, May 1, 2012 /CNW Telbec/ - Air Transat and its pilots, represented by the Air Line Pilots Association (ALPA), have reached a pact that amends the last collective agreement, ratified October 5, 2010.In the wake of initiatives adopted by Transat last fall in order to get back to profitability, the agreement calls for a deferment of planned wage increases in exchange for a lump-sum payment due upon expiry of the collective agreement. This lump-sum payment is conditional on the attainment of certain financial targets, and amounts payable as part of the incentive plan will be deducted. In addition, the collective agreement is extended until April 30, 2015."This agreement was negotiated with respect and in a climate of openness, and it reflects the constructive dialogue that Air Transat maintains with its employees and union representatives," Transat A.T. Inc. President and Chief Executive Officer Jean-Marc Eustache.About TransatTransat A.T. Inc. is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin. Montreal-based Transat is also active in air transportation, accommodation, destination services and distribution. (TSX: TRZ.B, TRZ.A)For further information: Source:  Transat A.T. Inc. / Media contact:  Debbie Cabana Advisor, Communications and Media Relations 514 987-1616, ext. 4662