Air Transat pilots call for new collective agreement following Q4 results

Following the release of Air Transat’s Q4 earnings on Thursday (Dec. 12), the airline’s pilots, represented by the Air Line Pilots Association, Int’l (ALPA), shared a message with their employer: that they are unified and ready to start negotiations at the beginning of next year

“We are pleased to see that earnings have improved this quarter, which will go a long way toward ensuring the airline’s viability in the short and long term,” said Capt. Bradley Small, chair of the Air Transat ALPA Master Executive Council, in a statement. “Transat pilots are a big part of that success in providing safe and on-time travel to our many destinations.”

“However, after a challenging 2024 for the airline, we want to remind management of the negative impact of prolonged negotiations with the flight attendants and mechanics. This created uncertainty amongst the public, leading to booking cancellations and a drop in future bookings, which helped create this financial shortfall.”

READ MORE: Amid “high economic uncertainty,” Transat posts Q4 profit & revenue up from year ago

For the new year, Small urged Air Transat “to work with us to avoid any uncertainty for our passengers, pilots, and airline colleagues by negotiating a long-overdue new collective agreement that reflects Canada’s shifting airline landscape and recognizes that pilots offer a unique, sought-after skillset.”

“Our contribution to the airline’s stability and success and our company’s commitment to reducing pilot fatigue will enable Air Transat to continue its growth strategy by retaining and attracting pilots well into the future.”

Transat ends year on "a positive note"

Yesterday, Transat AT posted reported a Q4 profit of $41.2 million, up from $3.2 million in the same quarter last year.

The company also said its profit amounted to $1.05 per diluted share for the quarter ended Oct. 31, up from a profit of eight cents per diluted share a year earlier.

In a statement, Annick Guérard, president and CEO of Transat, said Transat is closing fiscal 2024 “on a positive note,” noting that the company expects the industry to maintain relatively stable capacity.

“The decline in inflation and interest rates also suggests an increase in consumers' discretionary spending. This situation should provide a suitable backdrop to deliver further yield improvements,” Guérard said in a statement.

Still, Transat remains in a period of “high economic uncertainty, leading us to exercise caution," Guérard said.

The results come after Transat, during the third quarter, rolls out its “Elevation Program,” a business review and recovery plan that aims to generate $100 million in annualized margin within 18 months.

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