Transat A.T. Inc. acquires 70% of Air Consultants Europe’s operations

Montréal, Qc, Canada - Le 1er novembre, 2004

Transat A.T. Inc. announces that it has acquired 70% of the operations of Air Consultants Europe at a cost of one million euros. This Dutch company, based in The Hague, is Air Transat’s sole commercial representative in Germany and Holland since 1991 and in Belgium starting in November.

“Air Consultants Europe is very knowledgeable about Canada as a destination and has developed close relationships with travel agencies and tour operators in Germany and Holland,” said Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc. “Our acquisition of this company will help Transat control and further grow its distribution network in both these countries, and especially in Germany, a market with high growth potential.”

Transat A.T. Inc., with its head office in Montreal, is an integrated company specializing in the organization, marketing, and distribution of holiday travel. The core of its business consists of tour operators in Canada and France. Transat is also involved in air transportation, value-added services at travel destinations, as well as in distribution through travel agency networks. Transat is listed on the Toronto Stock Exchange (TSE:TRZ).

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