For several months now, the company Air Canada has its eye on its competitor Air Transatand the operation could well be completed in early 2020. Indeed, the 23 Augustthe shareholders of the parent company Transat largely validated - by almost 95% - the acquisition of shares in the group, for a total of 485 million euros (720 million Canadian dollars). According to the terms of the agreement unveiled on Friday, the Air Transat brand should be retained, and the group's head office will remain in Montreal. " We are delighted with the outcome of Transat's Extraordinary General Meeting and thank its shareholders for this considerable show of support. "said a delighted Calin RovinescuPresident and Chief Executive Officer of Air Canada, who is already planning to ". build a group that is greater than the sum of its parts and that we can all be proud of ".
It now remains to be seen whether the authorities in charge of the competition - both in Canada and the European Union - will validate this acquisition. Indeed, some voices are being raised against a quasi-monopoly situation on certain routes. But Air Canada management is confident about the upcoming negotiations: " We look forward to a dialogue with Transport Canada and the Competition Bureau to obtain the necessary approvals to complete the transaction, and welcome the opportunity to demonstrate the many benefits that will flow from it. "says Calin Rovinescu.
