The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: So first one maybe on the CEWS. Looks like you recognized about $54 million in Q3. What was the cash amount received during the quarter? And
what do you expect for the CEWS, either P&L or cash in Q4?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: And what is the amount for, Denis, for Q4 that you expect to recognize in the -- [some recent] benefits?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. No, that's fair. And the EBITDA number that you reported for Q3, the $79.9 million loss, does that include this $54 million CEWS or it is net of
that number?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay, makes sense. And then on the cash burn side -- so thanks for the details on the cash burn, the fixed costs and other costs that you provided.
Can you remind us what was the monthly cash burn during the quarter, if I have missed that? And what kind of improvements have you seen in
August?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. And like my point was basically, are you expecting that cash bond to improve sequentially in Q4?
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SEPTEMBER 10, 2020 / 2:00PM, TRZ.TO - Q3 2020 Transat AT Inc Earnings Call
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. And last one for me on the bookings and refund trends. It looks like the customer deposits increased sequentially quarter-over-quarter. Is
that entirely driven by new bookings? And have you handed out any cash refunds during the quarter? Also, what's driving these new bookings?
Like are they coming from Europe? They're coming from Canada? What is this driven by?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. Sorry, Denis, I think on the refund side, did you have anything to offer? Did you pay out any cash refunds during the quarter?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Just 2 quick follow-ups, perhaps one on the EU decision for the Air Canada transaction. Is that December 11, the hard date, meaning that if they
slip beyond December 11, it can get pretty close to the outside date of December 27? Any thoughts there?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: So Jean-Marc, a quick question on that. I mean if they slip beyond December 11, do you have any flexibility in the agreement to push out the
outside date because the EU took more time?
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SEPTEMBER 10, 2020 / 2:00PM, TRZ.TO - Q3 2020 Transat AT Inc Earnings Call
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay, makes sense. Perfect. And the last one. Are you guys also participating or conducting any voluntary COVID testing at the airports like Air
Canada is doing? If so, any kind of early indications in terms of how much success have you received?
Question: Konark Gupta - Scotiabank Global Banking and Markets, Research Division - Analyst
: Yes. So Air Canada is doing voluntary COVID testing at the airports, at the Pearson Airport, actually. Are you guys also participating in something
like that?
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