Senior Management Appointments at Transat and Air Transat

Montreal, April 26, 2000

Mr. Jean-Marc Eustache, Chairman of the Board and President and Chief Executive Officer of Transat A.T. Inc., is pleased to announce the following appointments at Transat A.T. Inc. and at Air Transat.

Mr. Philippe Sureau, Executive Vice-President of Transat, leaves the position of President and Chief Executive Officer of Air Transat which he has held since 1997. He will oversee Transat’s Internet and e-commerce development. Mr. Sureau has been President of Exit Travel—a subsidiary that specializes in e-commerce—since its creation last fall. Transat believes that the new economy will become increasingly significant in the marketing of travel services.

Mr. Denis Jacob succeeds Mr. Philippe Sureau as President and Chief Executive Officer of Air Transat, the leading charter carrier in Canada. Prior to this appointment, Mr. Jacob was Executive Vice-President of Air Transat. Over the past few years, he has held several executive positions at the airline. This appointment is effective immediately.

Mr. Allen B. Graham has been named Executive Vice-President, Operations and Maintenance and Chief Operating Officer of Air Transat. Mr. Graham has wide and varied executive experience in the airline industry. Prior to joining Air Transat, he was President and Chief Operating Officer of Royal Aviation Inc.; and he was formerly President and Chief Executive Officer of AirBC Ltd., a subsidiary of Air Canada. At Air Canada, he held various positions in a career spanning over 25 years. Mr. Graham will take up his new duties May 1.

 'The appointments to these key senior-management positions at Transat and Air Transat represent a definite asset for the company. In particular, they will enable us to increase our development of retail e-commerce and to maintain our leadership as a charter carrier in Canada. In general, these changes will strengthen our position as leader of the tourism industry in Canada as well as enable us to pursue our objective of becoming a dominant player in the creation and marketing of vacation travel in North America and Europe,' stated Jean-Marc Eustache, Chairman of the Board and President and Chief Executive Officer of Transat A.T. Inc.

Transat A.T. Inc., the leader in the Canadian tourism industry, is a public corporation listed on the Toronto Stock Exchange. Through its subsidiaries and affiliated companies, the company is active in all aspects of the organization and distribution of travel services as well as in air transportation.

Air Transat is an air carrier and is a wholly owned subsidiary, as are Air Transat Holidays (Montreal, Quebec, Toronto, Vancouver, and Fort Lauderdale); Vacances Air Transat (France); Brok’Air (France); Voyages Nolitour (Montreal); and Regent Holidays (Toronto), which are tour operators; Tourbec, a travel agency chain; Services Haycot, the airport handling services company; Exit Travel, in retail e-commerce; and Cameleon, the hotel management company.

Transat A.T. Inc. holds an interest in the tour operators Look Voyages (98%) and World of Vacations (35%), and in the travel agency franchisor Consultour/Club Voyages (50%). In addition, Air Transat Holidays holds an interest in the incoming tour operator DMC Transat (66.7%), while Look Voyages holds an interest in STAR Airlines (49.6%).

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