Servisair Buys Handlex

Servisair Holding Canada Inc., a leading global provider of aviation ground services, and Transat A.T. Inc., one of the world's largest integrated tourism companies and Canada's holiday travel leader, announce that they have reached an agreement for the sale of airport services company Handlex, the ground handling unit of Transat A.T. Inc., to Servisair. In addition to Air Transat, Handlex serves about twenty other airlines. The transaction includes a service agreement between Servisair and Air Transat and the closing is expected within weeks.

"This acquisition confirms Servisair's interest in strengthening its position in the Canadian aviation sector," said Abderaman El Aoufir, President and CEO, Servisair. "It will allow Servisair to further develop economies of scale and provide our customers with more competitive rates in our current market environment."

"As the airport services sector gets increasingly competitive and international, Transat is making the strategic choice to focus on its core, tour operator, business. As such, the transaction offers only advantages for all interested parties, including Handlex staff, who will be joining the ranks of a fine organization whose core business is airport services," said Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc.

Handlex and its 1,200 employees provide airport ground services, including passenger reception and check-in, baggage- and cargo-handling, aircraft cleaning and ramp services, at Montreal, Toronto and Vancouver international airports.

Servisair is a leading global provider of aviation ground services delivering an integrated range of handling solutions across 118 locations worldwide. Servisair's team of 15,000 dedicated employees work around the clock to look after the needs of our 500 customers, handling 1.1 million aircraft movements, 106 million passengers and 650,000 tonnes of cargo per year. Servisair forms part of the Derichebourg Group, which also has divisions in Corporate and Environmental Services, collectively employing 42,000 staff throughout 23 countries and generating consolidated revenues of €3.7 billion. www.servisair.com

Transat A.T. Inc. is an integrated tour operator that specializes in holiday travel and offers more than 60 destination countries. Transat, which was created in Canada and has offices in many other countries, is an international company that owns an air carrier, provides destination services, is active in the accommodation industry and operates an extensive distribution network. (TSX : TRZ.B, TRZ.A).

SOURCE TRANSAT A.T. INC.