{"id":108017,"date":"2021-04-06T14:13:24","date_gmt":"2021-04-06T12:13:24","guid":{"rendered":"https:\/\/www.voyages-d-affaires.com\/?p=108017"},"modified":"2021-04-06T15:46:00","modified_gmt":"2021-04-06T13:46:00","slug":"air-canada-abandons-air-transat","status":"publish","type":"post","link":"https:\/\/www.voyages-d-affaires.com\/en\/air-canada-abandons-air-transat","title":{"rendered":"Air Canada abandons plans to buy Air Transat"},"content":{"rendered":"<div class=\"vapo-snippet automatic\">\n<p>This has been the great soap opera of Canadian air transport. The takeover and merger of<a href=\"https:\/\/www.voyages-d-affaires.com\/en\/air-transat-air-canada-2-20190826.html\/\"><strong>Air Canada with competitor Air Transat<\/strong><\/a>. A soap opera that began in the summer of 2019 and came to an abrupt end earlier this week. The cause: <strong>the covid crisis<\/strong> and also the<strong> fear of reduced competition on international routes<\/strong>. Among the staunch opponents of such a merger are <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/air-transat-air-canada-20190521.html\/\"><strong>the European Union, which demanded onerous quid pro quos<\/strong><\/a>.<\/p>\n<p>Air Canada justifies its withdrawal by pointing the finger at Europe. Air Canada's acquisition of Air Transat was in fact conditional on<strong> Commission approval...<\/strong><\/p>\n<\/div>\n<div class=\"vapo-content\" style=\"display:none\"><p>This has been the great soap opera of Canadian air transport. The takeover and merger of<a href=\"https:\/\/www.voyages-d-affaires.com\/en\/air-transat-air-canada-2-20190826.html\/\"><strong>Air Canada with competitor Air Transat<\/strong><\/a>. A soap opera that began in the summer of 2019 and came to an abrupt end earlier this week. The cause: <strong>the covid crisis<\/strong> and also the<strong> fear of reduced competition on international routes<\/strong>. Among the staunch opponents of such a merger are <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/air-transat-air-canada-20190521.html\/\"><strong>the European Union, which demanded onerous quid pro quos<\/strong><\/a>.<\/p>\n<p>Air Canada justifies its withdrawal by pointing the finger at Europe. Air Canada's acquisition of Air Transat was in fact conditional on<strong> approval by the European Commission<\/strong>. In an official statement issued late last week, Air Canada said it had \"offered and enhanced a remedy package that goes well beyond the commercially reasonable efforts required of Air Canada under the Arrangement Agreement and what the European Commission has traditionally accepted in previous airline merger cases\".<\/p>\n<p><strong>Compensation measures<\/strong> would have considerably compromised <strong>Air Canada's ability to compete internationally<\/strong>the company added. But according to experts, such a merger would have given the new entity more than 60% of market share on the transatlantic route and on holiday destinations - the Caribbean and the United States. Unacceptable to the European and American authorities.<\/p>\n<h2><span style=\"color: #a71f31;\">Any buyers in sight?<\/span><\/h2>\n<div class=\"quote\">\n<p class=\"quoteSource\">Air Transat will thus be able to continue operating its flights independently. <strong>But it can only survive in the long term by building a new alliance.<\/strong>. Several buyers are in the running, including the Montreal conglomerate <strong>Qu\u00e9b\u00e9cor<\/strong>. The company is active in telecoms, media, sports and culture.<\/p>\n<p class=\"quoteSource\">At the end of 2020, Qu\u00e9b\u00e9cor CEO Pierre P\u00e9ladeau submitted a proposal to buy back Air Transat shares for five Canadian dollars (\u20ac3.37). This represents approximately 190 million Canadian dollars (<strong>128 million euros<\/strong>). Now <strong>Air Transat considers this offer insufficient<\/strong>. The airline group estimates that it will need at least <strong>337 million euros<\/strong> to get through the difficult period of 2021.<\/p>\n<p class=\"paragraph textModule textModule--type-paragraph\">The businessman maintains that \"by maintaining an independent Air Transat\", his offer will ensure a \"competitive market\". By 2020, the<strong>he Transat group posted revenues of 880 million euros<\/strong>1.7 billion, down 55.7 % compared with 2019. Business was down <strong>operating loss of 287 million euros<\/strong>9.2 million in 2019.<\/p>\n<\/div>\n<\/div>\n<div class=\"vapo-widget\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The major merger between Air Canada and Air Transat will not go ahead after all, due to the delicate position of the Canadian national carrier, which has been affected by the covid crisis. And also because of the demands of the competition authorities...<\/p>","protected":false},"author":21,"featured_media":86251,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55,59],"tags":[1207,2107,123,131],"type-darticle":[],"n_magazine":[],"class_list":["post-108017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobilite","category-aerien","tag-canada","tag-transport-aerien","tag-amerique-du-nord","tag-compagnies-aeriennes","vapo-premium"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Plus de fusion au Canada entre Air Transat et Air Canada<\/title>\n<meta name=\"description\" content=\"La fusion entre Air Canada et Air Transat n&#039;aura pas lieu. Air Canada a en effet d\u00e9cid\u00e9 de retirer sa proposition de rachat face \u00e0 l&#039;hostilit\u00e9 de l&#039;Europe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.voyages-d-affaires.com\/en\/air-canada-abandons-air-transat\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Air Canada renonce \u00e0 racheter Air Transat\" \/>\n<meta property=\"og:description\" content=\"La fusion entre Air Canada et Air Transat n&#039;aura pas lieu. 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