Tuesday,  June 18, 2019  1:15 am

Transat finalizes Jonview sale for $44M


Transat finalizes Jonview sale for $44M

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.

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