The Globe and Mail reports in its Wednesday edition that Montreal-based Air Transat ($1.51) is facing more turbulence as many Canadians turn their backs on flying to Donald Trump's United States and stay closer to home instead. Guest columnists Benj Gallander and Ben Stadelmann write that in 2020, Transat stock traded north of $16. At that point, Transat was in play as Air Canada was keen on buying the enterprise. That deal fell through as it could not get European Commission approval. The best way for the stock price to jump would be another takeover bid, but that does not seem likely unless the company has to be rescued and perhaps the government cajoles Air Canada into making a bid. Revenues last quarter were $829.5-million, up from $785.5-million a year ago. Free cash flow was $129.1-million, a huge leap from $39.1-million. However, net loss more than doubled to $122.5-million. Fortunately, creditors are being kind to the company. As for Transat's value as an investment, this could be one of those situations where paying double the current price for shares, when the corporate future is more secure, is a better deal than purchasing now. The writers say they might get interested in December's tax-loss season.