Transat trims secured facilities in first quarter

By Marisa Wong

Los Angeles, March 14 – Transat AT Inc. reported that it reduced its secured facilities by $20.7 million in the first quarter.

The company used proceeds from the sale of a hotel investment in Mexico to reduce its debt, according to a press release.

Following this repayment, long-term debt and deferred government grant, net of cash, amounted to $352.3 million as of Jan. 31, down from $375.3 million a year ago and from $380.1 million as of Oct. 31.

Transat is a Montreal-based integrated company specializing in the organization, marketing and distribution of holiday travel.

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