Montreal-based Transat seeking buyers for some European operations

MONTREAL -- Transat A.T. Inc. (TSX:TRZ) is looking for buyers for some of its European operations but expects to maintain transatlantic service by its airline and Transat Tours Canada.

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The Montreal-based travel company says its tour operating business units in France and Greece are up for sale but there's no certainty that a transaction will occur.

The company says it isn't yet in negotiations and that the move is part of its determination to focus on profitable growth in the Americas through development of its tour, distribution and hotel businesses.

It also says Air Transat and Transat Tours Canada would be unaffected if a European sale does occur.

Transat is an integrated travel company that distributes its vacation products in more than 60 countries.

Part of its business originates travel from Europe to various regions including Canada and the Mediterranean basin.

Transat also originates transatlantic travel from Canada to Europe as well as to southern destinations in the United States and the Caribbean basin.

The company said it doesn't intend to provide public updates about its planned asset sale.

"Should such a transaction take place, it will have no impact on Transat Tours Canada's transatlantic program or on Air Transat operations and growth, including their presence in France. Transat maintains its growth objectives as a leisure carrier between Europe and Canada."



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