AC and TRZ Agree to Terminate Arrangement

[co-joe]

I'm curious if most laid of Air Transat are actively trying to pursue new jobs...

I wonder where we’d be looking these days...

I heard Costco is hiring.

[Jean-Luc Monette]

I'm curious if most laid of Air Transat are actively trying to pursue new jobs...

I wonder where we’d be looking these days...

I heard Costco is hiring.

Real funny....

You do realize many of us have been there for well over 20 years and are also close to retirement but not quite ready to pull the plug?

Our #1 is a founding member (1987) who still has 5 years of flying ahead of him, and he’s getting a layoff notice like the rest of us, so I’ll tell him you said to go and apply at Costco...

[FL-280]

You bet AC can pull out of this! This is a black swan, act of god, force majeur whatver you want to call it event. AC has been very silent, and there is no way they are spending 720M$ on an airline that isn't worth 100M$....
Transat guys can apply at AC when this is all done with if they want.

[DanWEC]

You bet AC can pull out of this! This is a black swan, act of god, force majeur whatver you want to call it event. AC has been very silent, and there is no way they are spending 720M$ on an airline that isn't worth 100M$....
Transat guys can apply at AC when this is all done with if they want.

We're fortunate that the CFO of AC is posting here, and intimately familiar with the language of the contract. Whew.

[altiplano]

I'm just saying, you're claiming illegal collusion between two separate companies, alluding to having insider info and then denying it.

So which is it?

And that OSC link... $5 million reward to report improprieties like you have suggested. If I had direct knowledge of the things you say I'd take the $5 million in a heartbeat.

[98 Corolla]

Most Air Transat pilots are probably waiting to go back to work at Air Transat.

I was afraid of that. Time for some soul searching and asking yourself if any Canadians are really going to be taking a vacation in the next year, and if those few that can still afford vacations are looking for an all inclusive trip to Cuba.

[FL320]

Most Air Transat pilots are probably waiting to go back to work at Air Transat.

I was afraid of that. Time for some soul searching and asking yourself if any Canadians are really going to be taking a vacation in the next year, and if those few that can still afford vacations are looking for an all inclusive trip to Cuba.

The same will apply for business travelers. Most people I know who were regularly flying for business are planning to continue with webcam meetings in the future.

[tsgas]

Most Air Transat pilots are probably waiting to go back to work at Air Transat.

I was afraid of that. Time for some soul searching and asking yourself if any Canadians are really going to be taking a vacation in the next year, and if those few that can still afford vacations are looking for an all inclusive trip to Cuba.

The same will apply for business travelers. Most people I know who were regularly flying for business are planning to continue with webcam meetings in the future.

Also many will be looking at buying fraction shares of corporate aircraft.

[indieadventurer]

Most Air Transat pilots are probably waiting to go back to work at Air Transat.

I was afraid of that. Time for some soul searching and asking yourself if any Canadians are really going to be taking a vacation in the next year, and if those few that can still afford vacations are looking for an all inclusive trip to Cuba.

You were afraid of what? Everyone in the industry is well aware of the potential and probable massive implications this will have on our livelihoods for years to come.

At the moment though practically no one is hiring. I suspect most are waiting to see what transpires over the coming months before making any longer term decisions.

[co-joe]

I wonder where we’d be looking these days...

I heard Costco is hiring.

Real funny....

You do realize many of us have been there for well over 20 years and are also close to retirement but not quite ready to pull the plug?

Our #1 is a founding member (1987) who still has 5 years of flying ahead of him, and he’s getting a layoff notice like the rest of us, so I’ll tell him you said to go and apply at Costco...

Try to keep an open mind. 703 operators with 2 aircraft in small towns are getting hundreds of resumes from 737 pilots. Costco may be the best any of us can hope for for the next little while. We may well be heading into the second great depression. The last one had 24% unemployment. We're halfway there.

[FL320]

https://www.newswire.ca/news-releases/a ... 64571.html

[LittleNelly]

https://www.newswire.ca/news-releases/a ... 64571.html

Quebec advocating for Quebec first.. what a shocker

Everyone knows it’s bad for competition( All Canadians), Bad for Air Canada whose priority now is to preserve liquidity and survive, and bad for Air Canada Employees who would sacrifice their jobs(not just pilots but the whole employee group)

The only winners from this deal, as is, would be the Transat employees and shareholders. Times have changed, in the current environment Air Canada has NOTHING to benefit from the deal anymore. Market share of a dead transatlantic leisure market, labour and aircraft that are not needed anymore.

It will not go over well if Air Canada receives federal assistance, to then go and send $700 million of tax payers money to Air Transat shareholders which includes the friend and former partner of the premier of Quebec. That will not happen. If Quebec wants to bail them out, let Quebec bail them out.

[altiplano]

That report is bought and paid for!

[ayseven]

We look after our own here in Quebec. It should be an attitude every other province takes, but that is their problem. I have always had the belief that BC for example, goes out of its way to step on their own, in favour of easy money from people from elsewhere (I am talking about other provinces, not just other nationalities). It is just a philosophy, and it can be changed if we want it.

I am on the sidelines (as usual), but I don't see how AC employees can come out winners in this. AC cares about share prices and profits. Employees are just an evil necessity.

[Fanblade]

We look after our own here in Quebec. It should be an attitude every other province takes, but that is their problem. I have always had the belief that BC for example, goes out of its way to step on their own, in favour of easy money from people from elsewhere (I am talking about other provinces, not just other nationalities). It is just a philosophy, and it can be changed if we want it.

I am on the sidelines (as usual), but I don't see how AC employees can come out winners in this. AC cares about share prices and profits. Employees are just an evil necessity.

Ha!

AC employees will NOT Come out on top under any scenario. I suspect 20-30% gone moving forward. The question is simply how much pain will be foist upon them. Will extra pain be brought down on them through political interference.

20 years ago I watched a Liberal Government twist AC into taking on another failing company. It ended badly for everyone. Shareholders, Employees, contractors, suppliers. Everyone.

I have an idea though. How about Quebec green light energy east?

Anyone?

Nothing?

Thought so

[airboy1]

If sunwing doesn't restart operations.... am i correct to say all i will have as a choice for vacation flying is air canada and westjet after this merge?

[Fanblade]

If sunwing doesn't restart operations.... am i correct to say all i will have as a choice for vacation flying is air canada and westjet after this merge?

Yup. But regardless of consolidation that may happen anyway through failures.

The problem with shutting down or ceasing operations completely is that now you have no forward bookings. When you restart, the cash burn will be MASSIVE. Most of those travelling will be travelling on previous credit. Neither Sunwing or Transat have the capital on their own. In fact no one knows how leveraged WJ might be at the moment. That might be a wildcard no one has considered. They were just bought by a hedge fund in a highly leveraged transaction.

So a huge cash infusion is now required for Transat and Sunwing to restart. Right at a time when AC will need every inch of its cash reserves to fund its own restart which also will be massive. Westjet? No one knows.

So unless someone ponies up a HUGE bailout, failures will happen.

This is the real issue now. Who funds all the restarts?

Government is overwhelmed, Airlines are overwhelmed. I suspect nothing will transpire of any substance until post pandemic. Throw money at things in the short term and figure it out later.

[altiplano]

Or drive to Burlington/Buffalo/Bellingham.

Or Connect to DFW/ORD/ATL.

[andrewhartjr]

Do you guys realize how strong financially Sunwing actually is? I don't think you really know what the Sunwing group is. The Hunters (owners) are always ahead of the curve and they immediately protected their operations with the layoffs. TUI owns 49% of Sunwing. TUI has in its accounts 1.7 billion Euros in Cash and the German government just approved a Bridging loan of 1.8 billion euros.

[Fanblade]

Do you guys realize how strong financially Sunwing actually is? I don't think you really know what the Sunwing group is. The Hunters (owners) are always ahead of the curve and they immediately protected their operations with the layoffs. TUI owns 49% of Sunwing. TUI has in its accounts 1.7 billion Euros in Cash and the German government just approved a Bridging loan of 1.8 billion euros.

I’m not suggesting Sunwing won’t restart. I’m stating that for TUI and all its operators to restart will be MASSIVE. Everyone’s restart will be MASSIVE. Those that have, or find the financing, will come back.

Those that don’t have it won’t.