Erroneous statement on CTV News Channel

On the morning of July 5, 2016 on CTV News Channel, a business commentator made an unsubstantiated link between Transat’s financial situation and its decision to sell its tour-operating activities in France and in Greece. On the contrary, Transat is in good financial health and this potential transaction is motivated by our desire to focus on profitable growth in the Americas through the development of our tour-operating, distribution and hotel business lines, as well as our airline activities and our transatlantic program. This decision to sell is aligned with the company’s 2015–2017 strategic plan.