Transat A.T. Inc. has concluded the sale of Jonview Canada for $44 million Cdn to Japanese multinational H.I.S. Co. Ltd., which specializes in travel distribution.
"The sale of Jonview Canada completes our strategic refocusing around three main pillars: air transportation and travel distribution, which make up our leisure travel operations, as well as hotel operation," said Jean-Marc Eustache, president and CEO of Transat. "This transaction is the latest in a series of initiatives we have implemented in recent years to carry out the company's new development strategy and ensure its long-term prosperity."
The sale of Jonview, announced earlier this fall, follows Transat’s sale of its minority interest in Ocean Hotels in October for $187.5 million.