Air Canada reaches new agreement to acquire Transat AT at a reduced price

The two companies have agreed on revised terms that would see Air Canada pay $5 a share for the parent company of Air Transat, compared to the $18 per share originally pledged in its takeover bid.Air Canada says in a news release that the pandemic has had a devastating effect on the aviation industry and the value of airlines and their assets, but it still wants to proceed with the acquisition.

The deal could be concluded in early 2021 if it is approved by Transat AT shareholders and regulators in Canada and the European Union. The European Commission's antitrust body, which is investigating the proposed merger, has not indicated whether it would give the green light.

Let me under stand this. Small businesses are getting decimated, hospitality and entertainment industry obliterated AC asks for a bailout (while getting wage subsidy) and they purchase another airline. This is a joke correct?

Is that why they want a long term bailout loan ?

AirCanada should be forced to change it's name. 'Canned Air' is more appropriate. AirCanada is consistently awful!! Lose the name.

Look on the Covid exposure on Domestic flights ... Air Canada has 90+% on the list ... no surprise .

Will they both maintain the same level of shitty customer service or will the customer service get 2X as shitty? Only time will tell!

Not only AirCanada - I am waiting for a significant amount of money to be refunded from AirTransat! Both airlines owe me my money back for March & May canceled trips due to COVID-19

Didn't they get a bailout from the feds?

And when AirCanada will reimburse the travelers whose flights were cancelled due to the pandemic? Thieves

Does anyone know why the Canadian Government is building interment camps? This question was asked in Parliament- the Government refused to answer. What is really going on here? Why is this not front page news?

Is this a joke, as they are in the middle of trying to get another government bailout. They should never get tax breaks let alone bailouts. Corrupt POS

Renaming both to, Air Fraud Airlines

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Statistics Canada to unveil September job numbers, expected to show slower gainsStatistics Canada will report Friday morning how well the country's job market fared in September. With another shutdown coming these clown politicians will bankrupt and collapse the economy over tests and zero hospitalizations Compliant mask wearing sheep everywhere are to blame. Not the politicians. They are useless without compliance R.I.P. Canadian Economy. Lets take a moment of silence.
Source: CTVNews - 🏆 1. / 99 Read more »