Letko Brosseau Reaffirms its Support of Air Canada's Acquisition of Transat

MONTREAL, Aug. 20, 2019 /CNW Telbec/ - Letko, Brosseau & Associates Inc., an independent investment manager that exercises investment control or direction over approximately 19.3% of all the issued and outstanding shares of Transat A.T. Inc. ("Transat" or the "Company") and is the Company's largest shareholder, today reaffirms its support of the proposed acquisition of Transat by Air Canada (the "Arrangement") as it believes that the increased price of $18 per share represents a fair price for Transat shares.

Pursuant to a support and voting agreement entered into with Air Canada, Letko Brosseau is pleased to confirm that it has voted all the Transat shares it is entitled to vote in favour of the Arrangement.

Letko, Brosseau & Associates Inc. is a Canadian independent investment manager founded in 1987. As of July 31, 2019, the firm manages approximately $28 billion in assets for institutional investors and private clients. It has offices in Montreal, Toronto and Calgary.

FORWARD-LOOKING STATEMENTS

Certain information contained in this press release may constitute forward-looking statements. Forward-looking statements may include estimates, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Letko Brosseau believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Letko Brosseau's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and Letko Brosseau does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.

SOURCE Letko, Brosseau & Associates Inc.

Peter Letko, [email protected], [phone]; Daniel Brosseau, [email protected], [phone]