Air Canada & Air Transat deal terminated
Apr 2nd 2021, 5:36 pm
#1
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Air Canada & Air Transat deal terminated
Couldn't get approval from Europe, so the 2 companies have terminated the deal, Air Canada will pay $12 million termination fee to Air Transat.
Air Canada and Transat AT Inc said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal.
https://www.reuters.com/article/us-t...rce=reddit.com
Air Canada and Transat AT Inc said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada, after being advised by European Commission that it would not approve the deal.
https://www.reuters.com/article/us-t...rce=reddit.com
Apr 2nd 2021, 7:13 pm
#2
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Re: Air Canada & Air Transat deal terminated
Thats probably good for us Canadians, whilst not mattering at all in Europe!
Apr 2nd 2021, 10:32 pm
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Re: Air Canada & Air Transat deal terminated
The question now will be, can Transat survive independent long term, I believe they have financing in place for the next few months, but one reason they were looking to sell was due to being a bit shaky financially.
Apr 3rd 2021, 12:22 pm
#4
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Re: Air Canada & Air Transat deal terminated
Very true- how many airlines can Canada sustain? Transat may have been one too many. As long as Westjet keeps going on the trans-atlantic route...
Apr 3rd 2021, 4:57 pm
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Re: Air Canada & Air Transat deal terminated
Air Transat appears to be the last remaining 'charter' airline with flights to/from the UK out of about 4 that there were previously - I used most of them at one point or another, I was paying less than £100 return UK-Canada-UK 20 years ago.. I flew back and forth a few times. We need more of these kind of airlines to get the prices down again!
Apr 3rd 2021, 6:45 pm
#6
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Re: Air Canada & Air Transat deal terminated
There were a lot more viable airlines back then... wonder what EasyJet would make of this route? Too far in their cramped planes?
Air Transat appears to be the last remaining 'charter' airline with flights to/from the UK out of about 4 that there were previously - I used most of them at one point or another, I was paying less than £100 return UK-Canada-UK 20 years ago.. I flew back and forth a few times. We need more of these kind of airlines to get the prices down again!
Air Transat appears to be the last remaining 'charter' airline with flights to/from the UK out of about 4 that there were previously - I used most of them at one point or another, I was paying less than £100 return UK-Canada-UK 20 years ago.. I flew back and forth a few times. We need more of these kind of airlines to get the prices down again!
