Transat A.T. Inc. (TRZBF) Q1 2025 Earnings Call Transcript


Transat A.T. Inc. (OTCPK:TRZBF) Q1 2025 Results Conference Call March 13, 2025 10:00 AM ET

Company Participants

Andrean Gagne – Senior Director, Communications, Public Affairs & Corporate Responsibility
Annick Guerard – President & Chief Executive Officer
Jean-François Pruneau – Chief Financial Officer

Conference Call Participants

Konark Gupta – Scotiabank
Cameron Doerksen – National Bank Financial
Alice Liu – CIBC

Operator

Good morning, ladies and gentlemen. Welcome to the Transat Conference Call. Please note that this call is being recorded.

I would now like to turn the meeting over to Andrean Gagne, Senior Director, Communications, Public Affairs and Corporate Responsibility. Please go ahead, Ms. Gagne.

Andrean Gagne

Hello, everyone, and thank you for joining us for our first quarter earnings call ended January 31st 2025. Annick Guerard, President and CEO and Jean-Francois Pruneau, our Chief Financial Officer, will provide an overview of the quarter and comment on the current operational situation and commercial plan.

Jean-Francois will also discuss our financial results in detail. We will then take questions from analysts. Questions from journalists will be taken offline after the call. The conference call will be conducted in English, but questions may be asked in French or English. As usual, our supplementary disclosure has been updated and is available on our website in the Investors section. Francois may refer to it when he presents the results.

Our comments and discussion today may include forward-looking information regarding Transat’s outlook, objectives and strategies that are based on assumptions and subject to risks and uncertainties. Forward-looking statements represent Transat’s expectations as of March 13 2025, and are therefore subject to change after that date.

Our actual results may differ materially from any stated expectation. Please refer to our forward-looking statement in Transat’s first quarter news release available on transat.com and on SEDAR+.

With that, I would



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The Pentagon has initiated an investigation incorporating polygraph tests to hunt down leakers after Elon Musk called for the prosecution of any Defense Department officials spreading “maliciously false information” about his dealings with the military.

In response to accusations surrounding Musk’s recent visit to the Pentagon, Defense Secretary Pete Hegseth’s chief of staff, Joe Kasper, called for an investigation into “unauthorized disclosures” of national security information with those found responsible to “be referred to the appropriate criminal law enforcement entity for criminal prosecution.”

Musk, the world’s richest man with billions of dollars in defense contracts, visited the Pentagon on Friday for a conversation about cost-cutting and innovation. The visit sparked controversy before it began after the New York Times reported that Musk was to get a top secret briefing about the US military’s planning for any potential war with China.

The Times, which cited multiple unidentified US officials familiar with the matter, said Musk was scheduled to view sensitive U.S. military strategies concerning China, potentially exposing critical Pentagon secrets given Musk’s substantial business interests there. Musk’s views on China have also provoked concern. He’s called Taiwan “an integral part of China” and once suggested that the self-ruled island become an administrative zone of the country.

Both President Donald Trump and defense chief Hegseth denied there were ever any plans for Musk to get such a high-level briefing. In the Oval Office on Friday, Trump acknowledged Musk’s potential conflict when he explained why he’d never give him such a briefing.

Further intensifying the scrutiny, Musk took to X, a social media platform he owns, insisting on the prosecution of Pentagon officials leaking misleading information to the media.

Hegseth has been one of the most vocal champions of Musk’s Department of Government Efficiency, boasting of hundreds of millions of dollars in spending cuts done in collaboration with DOGE staffers. 

The investigation into leaks “will commence immediately and culminate in a report to the Secretary of Defense,” Kasper wrote in a memo issued late on March 21. “The report will include a complete record of unauthorized disclosures within the Department of Defense and recommendations to improve such efforts.”

This story was originally featured on Fortune.com



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