TRZ:CC - Transat announces the closing of the sale of its land property in Mexico

Canada NewsWire

MONTREAL , Aug. 31, 2023 /CNW/ - Transat A.T Inc. (« Transat » or the « Corporation ») today completed the sale of its land in Puerto Morelos, Mexico , for US$38 million to Finest Resorts, a luxury resort group, part of the Excellence Collection.

Initially announced on July 10 , this transaction will enable Transat to pursue its strategic plan of refocusing on its airline activities.

Proceeds from the sale will be used to repay a portion of the Corporation's debt.

Founded in Montreal 35 years ago, Transat has achieved worldwide recognition as a provider of leisure travel particularly as an airline under the Air Transat brand. Voted World's Best Leisure Airline by passengers at the 2023 Skytrax World Airline Awards, it flies to international destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018. (TSX: TRZ) www.transat.com

SOURCE Transat A.T. Inc.

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