Air Canada kjøper Air Transat

Air Canada enters into Exclusive Agreement with Transat A.T. Inc. to pursue a Combination of the two Companies

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sk931 said:

kunne godt se dem skippe deres A310 grundet alder, og inkludere resten i Air Canada Rouge...som faktisk er ganske udmærket...har fløjet med dem 4 gange, og har ikke noget at klage over...
Hilsen Ole

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Air Canada acquiring Air Transat seems like a good fit, as Air Transat could join the Rouge fleet. With such a deal, Air Canada would be able to eliminate a competitor.

While Air Canada talks about the benefits of such a deal, it almost certainly wouldn’t be beneficial for consumers. Air Canada’s CEO says that consumers would “benefit from the merged company’s enhanced ability to participate as a leader in the highly competitive leisure travel market globally.”

The much bigger reality for consumers is that Canadian aviation isn’t that competitive, and we’d see an airline eliminated. That leads to higher airfare…

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Groupe Mach, a Montreal-based real estate developer, has offered to buy Transat Inc., owner of Air Transat (TS, Montréal Trudeau), which it said was the culmination of a process that began when it initially approached the leisure group in January.

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Air Canada and Transat A.T. Inc. conclude definitive arrangement agreement for the combination of the two companies

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Air Canada has hiked its purchase price for Air Transat's parent by nearly 40%, adjusting the figure to C$18 per share from the previous C$13.

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Air Canada's proposed takeover of Transat may not close until the second half of 2020, with Transport Canada given up to 2 May to complete a public interest assessment of the transaction

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Air Canada, Transat deal faces intense EU antitrust scrutiny

European regulators say the deal may result in higher prices and less choice for flights between Europe and Canada

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French-language media in Canada report that legacy carrier Air Canada is looking to exit its planned takeover of Transat AT, the parent company of Air Transat, as Canada’s biggest airline attempts to manage through the coronavirus crisis while preserving its liquidity.

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Air Canada was to buy Transat for $720 million. If the transaction is approved, Transat shareholders will now have only $190 million to pay.

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As previously disclosed, the acquisition was conditional on the approval of various regulatory authorities, including the European Commission ("EC"). In order to meet that key condition, Air Canada offered and enhanced a significant package of remedies, which went beyond the commercially reasonable efforts required of Air Canada under the Arrangement Agreement and what has been traditionally accepted by the EC in previous airline merger cases. Following recent discussions with the EC, it has become evident, however, that the EC will not approve the acquisition based on the currently offered remedy package.

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