In a special meeting, shareholders of the Quebec-based tour operator voted 94.77 per cent in favour of accepting the $18-per-share transaction from the country's largest airline.
"Today, we are very confident that we will get the approval of these different regulatory authorities," Transat board member Jean-Yves Leblanc said at a news conference, citing "the best advisers that we can have on this planet." While the price of Caribbean flights remains relatively low among ample competition from budget airlines such as Sunwing Airlines Inc. and WestJet Airlines Ltd. subsidiary Swoop, the consumer cost of transatlantic travel threatens to slide upward.
Both Air Canada and Transat are headquartered in Montreal, but worries persist around Transat's head office and potential job losses. Eustache took pains to quell anxiety over job cuts if Air Canada absorbs Transat, whose subsidiary Air Transat operates a roughly 40-plane fleet.
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