Transat satisfied to see liberalized air transport agreement between Canada and the European Union

Montreal, December 9, 2008

Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada’s holiday travel leader, is satisfied that a liberalized air transport agreement has been reached between Canada and the European Union, as announced today by the Government of Canada.

“The agreement can create new opportunities for the travel industry, pave the way for more choice for consumers and have a positive contribution to the Canadian economy when all conditions are met, including a reform of Canada’s fiscal and infrastructure cost framework,” said Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc.

Transat A.T. Inc. is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin. Montreal-based Transat is also active in air transportation, accommodation, destination services and distribution. (TSX: TRZ.B, TRZ.A)