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Air Canada, Transat call off merger deal
Air Canada has called off its planned takeover of tour operator Transat over EU regulatory hurdles, they announced Friday scuppering a deal that would have created a domestic giant with a 60 percent share of the Canadian travel market. The deal was concluded in June 2019 and approved by Transat shareholders in December 2020, as the tour operator found itself in dire financial straits due to the precipitous drop in air travel during the coronavirus pandemic. Transat operates Canada's… (www.msn.com) Más...
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I am glad that the merger is off. Because as stated Air Canada would have a 60% share of the canadian market. So less competition and higher fares for travelers. However Air Transat must have a plan B because right now all their activities are on hold. Since the deal has not gone through, they will receive 12,000,000$ from Air Canada so they got to react fast.
now that some of the discretionary component of air travel is returning, ever so slightly, Transat may have breathing room to restart .
