Air Canada and Transat A.T. Inc agree to terminate Arrangement Agreement

[NotDirty!]

Just announced.

Air Canada and Transat A.T. Inc agree to terminate Arrangement Agreement

Today Air Canada and Transat A.T. Inc. (Transat”) announced that they have mutually agreed to terminate the Arrangement Agreement for the proposed acquisition of Transat by Air Canada.

The acquisition was conditional on the approval of various regulatory authorities, including the European Commission (“EC”). In order to meet that key condition, Air Canada offered and enhanced a significant package of remedies, which went beyond the commercially reasonable efforts required of Air Canada under the Arrangement Agreement and what has been traditionally accepted by the EC in previous airline merger cases. Following recent discussions with the EC, it has become evident, however, that the EC will not approve the acquisition based on the currently offered remedy package.

According to our press release, “After careful consideration, Air Canada has concluded that providing additional, onerous remedies, which may still not secure an EC approval, would significantly compromise Air Canada’s ability to compete internationally, negatively impacting customers, other stakeholders and future prospects as it recovers and rebuilds from the impact of the COVID-19 pandemic. Especially in this challenging environment, it is essential that Air Canada focus on creating the optimal conditions for its full recovery by preserving and leveraging all of its key strengths and assets including its strong employee culture.

“We hope the time is fast approaching when we can begin to rebuild our company,” Michael Rousseau, President and Chief Executive Officer told the Flash following the release. “And when that time comes, we must ensure that we are not being held back on any front so that we can once again begin to grow our business and bring our colleagues back as quickly as possible. Our vision for Transat was always based on a growth scenario that would have benefitted our employees as well as other stakeholders and that was no longer a certainty given the potential requirements of the EC. As we put this behind us, we will focus on the kinds of initiatives that best demonstrate our leadership in the industry – including the strong employee culture we have built together over the last decade.”

Both Air Canada and Transat have agreed to terminate the Arrangement Agreement with Air Canada paying Transat a termination fee of $12.5 million, and with Transat no longer under any obligation to pay Air Canada any fee should Transat be involved in another acquisition or similar transaction in the future.

[dissent]

.

[telex]

Time for the MP for Papineau to get to work saving Quebec jobs!

Are Canadian taxpayers about to buy an airline?

[FL030]

Win-win (Win).

Transat pilots didn't want to give up their lucrative lifestyle.

[DanWEC]

Win-win (Win).

Transat pilots didn't want to give up their lucrative lifestyle.

Yup probably some people going to lose their houses and have some real problems.

What the @#$! is wrong with you.

[speedah]

Win-win (Win).

Transat pilots didn't want to give up their lucrative lifestyle.

Ah yes, the unemployed and "my company went bankrupt" lifestyle, very lucrative.

[Dias]

I don't think they're upset. I didn't see a single post by a Transat pilot gracious for the chance to join AC. In fact it was the opposite. Everything just goes back to normal now.
We wish you the best of luck in your future endeavors.

[Sharklasers]

Win-win (Win).

Transat pilots didn't want to give up their lucrative lifestyle.

Ah yes, the unemployed and "my company went bankrupt" lifestyle, very lucrative.

Transat isn’t going anywhere. The premier of Quebec made it clear he has no qualms throwing Albertas money at TRz to keep it going. PKP will probably buy it, it might not look the same but it’ll keep chugging. Further going off this forum not a single Transat pilot wanted to join AC, wish granted, let’s all move on.

[TheStig]

I'm sure there are multiple reasons for this deal falling apart, but the fact that the European Commission was the hurdle that couldn't be overcome really makes you wonder? What restrictions were placed on the British Airways/Iberia or Air France/KLM mergers? What concessions beyond what the Canadian Government issued was the EC demanding. I hope that the Canadian Government has taken some notes for when Norwegian Air Shuttle or Ryanair want to start flying here.

[simply_no_one]

transat pilots punching the air rn

Haha right?


I know not all of them were dicks on here and many would have been great co-workers. But for all the assholes on here trolling for the last year, @#$! you.

[redbusdriver]

I don't think they're upset. I didn't see a single post by a Transat pilot gracious for the chance to join AC. In fact it was the opposite. Everything just goes back to normal now.
We wish you the best of luck in your future endeavors.

Win-win (Win).

Transat pilots didn't want to give up their lucrative lifestyle.

Ah yes, the unemployed and "my company went bankrupt" lifestyle, very lucrative.

thats right, none of them did, now they get what they deserve an wanted. good day for ac

[DanWEC]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

[Sharklasers]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

[DanWEC]

You're defending and agree with your co-workers words then?
I know not all AC guys wish misfortune on others, I'm glad to not know of any in person that do. All good. I have nothing left to say here.
Cheers.

[FL030]

Great point Sharklaser. Another good thing about this deal stopping is all the jobs that will be saved. It's easy to forget about non-union employees when you are worried about your own career advancement.

[Brandon Manitoba]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

Most AT pilots were already PFO'd by AC, so not likely.

[simply_no_one]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

Most AT pilots were already PFO'd from AC already, so not likely.

Wait I thought they all worked at AT because of the LiFeStYLe

[altiplano]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

Absolutely. Paper thin skin on any discussion, requesting the 777 manuals so they can get a head start on taking YOUR seat, gloating about salty tears, and just genuine straight up insults.

You're defending and agree with your co-workers words then?
I know not all AC guys wish misfortune on others, I'm glad to not know of any in person that do. All good. I have nothing left to say here.
Cheers.

Are you defending and agreeing with your coworkers' insults, they certainly were there which is the point I think he's making.

Anyway... it's over. Best of luck, I never wished any misfortune on anyone.

Besides, it looks like the Transport Minister is already tweeting his support, Trudeau, PKP, Peladeau, they'll all be there for Quebec jobs.

[330heavy]

And the true colors of the AC pilots come as expected. No way to debate that reputation now eh?

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

Absolutely. Paper thin skin on any discussion, requesting the 777 manuals so they can get a head start on taking YOUR seat, gloating about salty tears, and just genuine straight up insults.

You're defending and agree with your co-workers words then?
I know not all AC guys wish misfortune on others, I'm glad to not know of any in person that do. All good. I have nothing left to say here.
Cheers.

Are you defending and agreeing with your coworkers' insults, they certainly were there which is the point I think he's making.

Anyway... it's over. Best of luck, I never wished any misfortune on anyone.

Besides, it looks like the Transport Minister is already tweeting his support, Trudeau, PKP, Peladeau, they'll all be there for Quebec jobs.

Reality as you forgotten, is many including you were/are the biggest trolls. There was more from TS who were looking to working together and building a relationship than what was shown here from the AC groupe.

Despite the immaturity shown above and in other threads, TS will survive, and hopefully we all can work as one to progress our profession.

[altiplano]

Go back and read the 90 pages of certain Transat pilots gloating about taking AC seats and jobs away from ACPA pilots. It’s hard to see it now but this really is the very best outcome for all us peons. Omar Alagraba is already in Twitter this morning saying the feds are ready to step in and save Quebec jobs, the premier of Quebec has said he won’t let Transat sink. The merger would have preserved only a fraction of Transat jobs, mostly limited to the unionized positions of pilots, FA and maintenance. I know you are disappointed but please try to think of your coworkers today who are celebrating the fact that with this deal dead they now have a job to go back to.
If your sole motivation was getting your a$$ in an Air Canada seat you are still more than welcome to apply after the dust settles on this, I’ll buy you a beer on a layover.

Absolutely. Paper thin skin on any discussion, requesting the 777 manuals so they can get a head start on taking YOUR seat, gloating about salty tears, and just genuine straight up insults.

You're defending and agree with your co-workers words then?
I know not all AC guys wish misfortune on others, I'm glad to not know of any in person that do. All good. I have nothing left to say here.
Cheers.

Are you defending and agreeing with your coworkers' insults, they certainly were there which is the point I think he's making.

Anyway... it's over. Best of luck, I never wished any misfortune on anyone.

Besides, it looks like the Transport Minister is already tweeting his support, Trudeau, PKP, Peladeau, they'll all be there for Quebec jobs.

Reality as you forgotten, is many including you were/are the biggest trolls. There was more from TS who were looking to working together and building a relationship than what was shown here from the AC groupe.

Despite the immaturity shown above and in other threads, TS will survive, and hopefully we all can work as one to progress our profession.

Please post what I said.

In fact I absorbed insults ad nauseam.