The Globe and Mail reports in its Friday edition that Transat AT is facing a battle for control of its boardroom even though the Montreal carrier's turnaround plan appears to be working. The Globe's Eric Atkins writes that the Montreal-based operator of Air Transat swung to a $242-million profit, or $6.06 a share, in the fiscal year ended on Oct. 31, compared with a loss of $114-million ($2.94) in 2024. Pierre Karl Péladeau, who controls 9.5 per cent of Transat through Financière Outremont Inc., wants to replace the 11-member board with six directors, including himself and two others. Mr. Péladeau says he can chart a new path for a company that he says is underperforming financially and operationally. Under pressure from Mr. Péladeau, Transat has scheduled a board vote at its annual meeting on March 10. The company's share price has fallen by 55 per cent over the past five years on the Toronto Stock Exchange. Transat in the summer renegotiated its $762-million bailout debt owed to taxpayers in a deal that gave Ottawa a 20-per-cent ownership stake. As of Oct. 31, Transat owes $350-million under the Large Employer Emergency Financing Facility, designed to keep companies from failing in the pandemic.