Not a rumour - Air Transats contract with GSM will cease from 31 October 2006, with GSm taking over their own YYZ flights this Winter with their own B767s, until the B757s arrive next year. The flights will soon go on sale for GLA and STN shortly. Also, they are partnering with Flyzoom, with Zoom operating some of the flights and GSM operating the rest over Winter 06.
Also, with regards to the B787s, Mr D knows what he is doing Gatwicknose. Are you a disgruntled ex-employee? Cos I'm sure you have an issue with GSM doing well. These B787s were on the cards since 2005, where Mr D announced his intention to aquire these aircraft.