Airlines COVID-19 rescue negotiations at critical stage, sources say theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Sunwing CEO says Transat takeover vital to fend off foreign airlines theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
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Paul Chiasson/The Canadian Press
Transat AT has reconfirmed its unanimous support for its proposed acquisition by Air Canada while issuing a clarification about a proposal from telecom owner Pierre Karl Peladeau.
The Montreal-based tour company says the deal with Air Canada that was overwhelmingly supported by shareholders on Dec. 15 and received court approval is in the best interests of Transat and stakeholders.
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Graham Hughes/The Canadian Press
Pierre Karl Péladeau’s bid for Air Transat (TRZ-T) has put the Trudeau government in the uncomfortable position of having to choose between the beleaguered airline’s takeover by archrival Air Canada and a long-shot offer from the Quebec businessman that he says would preserve competition and ensure Transat’s independence.
Montreal-based Transat’s takeover by Air Canada (AC-T) would eliminate consumer choice on a slew of transatlantic and Caribbean flights, and potentially lead to a hefty increase in ticket prices if demand rebounds after the pandemic. But it would at least ensure that Transat ends up in the hands of an experienced operator and preserve hundreds of jobs at t