Transat AT (TSE: TRZ) and Porter Airlines have signed a code-sharing agreement for the summer season.
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Greater Choices
The agreement will offer Transat and Porter customers a greater choice of connecting flights in Canada, the United States, and abroad.
The first phase of the deal will focus on connecting Porter’s bases to Billy Bishop Toronto City Airport and Halifax’s base to Air Transat’s hub in Montreal.
The deal will allow travelers to combine flight segments on a single ticket, and check baggage only once.
CEO Commentary
Transat president and CEO Annick Guérard said, “We are very excited to team up with Porter in an important partnership that will contribute to the strengthening of our network and reinforce our leadership in our main markets. This promising agreement brings together two award-winning, traveller-centric brands whose flight schedules are complementary, and creates great opportunities for customers who are looking for quality and effortless travel. By providing better connectivity, it will not only enhance our destination offering for our Canadian and international customers, but also save them time and make their lives easier.”
Wall Street’s Take
On December 12, National Bank Financial analyst Cameron Doerksen kept a Sell rating on TRZ and C$3.50 price target. This implies 22.1% downside potential.
Overall, the consensus is that TRZ is a Moderate Sell based on two Sells. The average Transat price target of C$3.75 implies 16.2% downside potential to current levels.
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