AC and TRZ Agree to Terminate Arrangement

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Jumbo744
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Jumbo744 »

I agree. The restarts will also be quite slow.
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Fanblade
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Fanblade »

Jumbo744 wrote: Mon Mar 30, 2020 8:34 am I agree. The restarts will also be quite slow.
I agree. Capital constraints may force some operators to basically go back to scratch rather than risk failure. However those with deeper pockets could see themselves ahead 2 years from now.

I noticed porter has secured money. That is a good sign.
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Gilles Hudicourt
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Gilles Hudicourt »

A few posts were deleted by the MODS including one of mine. I wonder why........
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98 Corolla
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by 98 Corolla »

Jean-Luc Monette wrote: Sun Mar 29, 2020 2:57 pm 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
If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
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Jean-Luc Monette
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Jean-Luc Monette »

98 Corolla wrote: Mon Mar 30, 2020 1:26 pm
Jean-Luc Monette wrote: Sun Mar 29, 2020 2:57 pm 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
If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
I’ve been there 24 years, of which 22 as a captain, always on widebody A/C, I’m 56 and have been through 4 layoffs during my career including this coming one, but the thing is we didn’t have a “pension plan” at AT before 2000... So no, not everyone is ready to call it quits!
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Fanblade
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Fanblade »

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aerosexual
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by aerosexual »

98 Corolla wrote: Mon Mar 30, 2020 1:26 pm If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
Most airlines don't have an actual pension plan. Most pilots close to retirement probably would have been in great shape to retire, but let's face it investments took a big hit. This isn't favourable to anybody unless they have a million bucks under their mattress.
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FL-280
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by FL-280 »

Jean-Luc Monette wrote: Mon Mar 30, 2020 1:50 pm
98 Corolla wrote: Mon Mar 30, 2020 1:26 pm
Jean-Luc Monette wrote: Sun Mar 29, 2020 2:57 pm 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
If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
I’ve been there 24 years, of which 22 as a captain, always on widebody A/C, I’m 56 and have been through 4 layoffs during my career including this coming one, but the thing is we didn’t have a “pension plan” at AT before 2000... So no, not everyone is ready to call it quits!
So please explain to me why Air Canada pilots must pay for your poor career choices?
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flyinhigh
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by flyinhigh »

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dialdriver
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by dialdriver »

FL-280 wrote: Mon Mar 30, 2020 5:49 pm
Jean-Luc Monette wrote: Mon Mar 30, 2020 1:50 pm
98 Corolla wrote: Mon Mar 30, 2020 1:26 pm

If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
I’ve been there 24 years, of which 22 as a captain, always on widebody A/C, I’m 56 and have been through 4 layoffs during my career including this coming one, but the thing is we didn’t have a “pension plan” at AT before 2000... So no, not everyone is ready to call it quits!
So please explain to me why Air Canada pilots must pay for your poor career choices?
Actually, I am going to send Air Canada HR a thanks for the PFO.
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Jumbo744
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Jumbo744 »

FL-280 wrote: Mon Mar 30, 2020 5:49 pm
Jean-Luc Monette wrote: Mon Mar 30, 2020 1:50 pm
98 Corolla wrote: Mon Mar 30, 2020 1:26 pm

If they have been there 20 years and are close to retiring wouldn't they have a reasonably large pension earned by now? Why not just retire and ride into the sunset?
I’ve been there 24 years, of which 22 as a captain, always on widebody A/C, I’m 56 and have been through 4 layoffs during my career including this coming one, but the thing is we didn’t have a “pension plan” at AT before 2000... So no, not everyone is ready to call it quits!
So please explain to me why Air Canada pilots must pay for your poor career choices?
Poor career choices you say? Because he found a stable job with a great company, flying beautiful planes to great destinations, work half as much as an Air Canada pilot, with a much better schedule, lifestyle and most importantly....happier and more friendly crews.

Not everybody is obsessed with Air Canada you know?
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SOBIESKI
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by SOBIESKI »

Jumbo744 wrote: Mon Mar 30, 2020 6:40 pm
FL-280 wrote: Mon Mar 30, 2020 5:49 pm
Jean-Luc Monette wrote: Mon Mar 30, 2020 1:50 pm

I’ve been there 24 years, of which 22 as a captain, always on widebody A/C, I’m 56 and have been through 4 layoffs during my career including this coming one, but the thing is we didn’t have a “pension plan” at AT before 2000... So no, not everyone is ready to call it quits!
So please explain to me why Air Canada pilots must pay for your poor career choices?
Poor career choices you say? Because he found a stable job with a great company, flying beautiful planes to great destinations, work half as much as an Air Canada pilot, with a much better schedule, lifestyle and most importantly....happier and more friendly crews.

Not everybody is obsessed with Air Canada you know?
You mean not everyone wants to be “The PILOTS, pilots want to be” 😂
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DanWEC
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by DanWEC »

FL-280 wrote: Mon Mar 30, 2020 5:49 pm
So please explain to me why Air Canada pilots must pay for your poor career choices?
You know, 95% of AC pilots really hate the stereotype that developed from the behavior of 5%.

I wonder what percent you're in?

Hint- Self Felatio Expert wasn't one of the options so it's a trick question. Sorry!
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telex
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by telex »

ayseven wrote: Mon Mar 30, 2020 7:50 am 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.
I guess you have never heard of equalization payments? The rest of Canada looks after you and yours.

I would be quite happy to look after mine without also looking after yours.

Can you fix that for me?
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160tonoaha
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by 160tonoaha »

LittleNelly wrote: Mon Mar 30, 2020 7:37 am
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.
You don’t think there’s a market for transatlantic and southern flying when this thing blows over even if it’s a few years ahead? Usually acquisitions are done with an investing mindset. Usually investments aren’t short term decisions.

I can see the argument that in the short term AC has to take care of its own business before considering Transat, or at least renegotiating the price for transat, but long term, AC will have won when they have all the controlling assets of transat, in a market that has historically always been profitable and important to be present in.

The transatlantic market and vacation market is non existent not because there’s no market there, but simply because the entire economy is slowing down due to this hysteria being bought in by the herd. It’s times like this where sharks are hungry for opportunities to invest into. And I don’t see AC pulling the plug over a little blip in the road. Pandemic or not, looking back 15 or 20 years from now, this will be as small of a dip in the market as when you look back at the charts from 2001 and 2008 today.

And to those that think transat was a poor career choice, haha. I pity your superior career choices at AC. No body is walking away from this unaffected, so FL280, I think everyone would be more inclined to what you have to say if you didn’t hide behind the “flying the flag” bullshit like some patriotic braveheart that had a crystal ball all along. You’re a middle class goat like the rest of us and you too are in a shit spot with today’s announcement. No body is a winner right now except those who invest.

If this is some kind of petty remark about getting hired at AC versus those that didn’t, let’s not forget the idiots that made it through that either were found dead in their hotel rooms, hanging off a balcony drunk, or wrote off an Airbus because the headwind component changed. AC is another job. And the question you should ask is not why AC pilots should save Transat pilots poor career choices; you should be asking why your superior employer decided to pursue transat pilots, and merge them into your list. The answer is quite clear when you emerge from cleaning all the “AC is great” propaganda from your bullheaded mind.
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sanjet
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by sanjet »

Lots of immaturity here. I work for AC, i may get my lay off notice as well in the coming months. If so, it would be my 3rd layoff in this industry,
I know a few pilots at transat and they are A+. To say poor career choice is brutal on your part fl280, should retract your statement nor does it look professional.

AC was in CCAA just over a 15 years ago and transat managed their way out without going into CCAA.

Lets all stay grounded, yes we all have our opinions on this merge but it doesnt matter nor is it any of our choice. Whatever happens, move on.

The fact is CR will have to manage this crisis or we will reenter CCAA within months again. Thats what a CEO is paid for. He is also 10 steps ahead of anyone else.
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727driver
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by 727driver »

160 I suggest you tone it down and be careful about casting disparaging remarks about drunk pilots and crashed airbus’. You guys have your share of genius aviators too that have managed to slip through the cracks or did your forget about the hero Capt Piche who ran out fuel because he couldn’t identify a fuel leak and wouldn’t listen to the FO when it was painfully obvious, or the winners that were busted at the gate in Glasgow trying to operate a flight home drunk. Stones and glass houses don’t mix well. Let’s not forget that the one of the purposes why Rouge was created was to cripple Transat not to acquire it. The acquisition of Transat by AC was purely a defensive move to keep it out of the hands of Onex. Air Canada purchasing Transat was not priority before the Onex deal took place and AC certainly wasn’t looking for Transat pilots I can assure you of that. The airline division of the company has zero value(words from your own management btw) and only exists as a cost and capacity management tool. The only assets at Air Transat are the the hangars and the 310s(excluding leased engines) and they are only worth their weight in scrap. If Calin could acquire the operation minus the flight ops department that would be his preference. He among anyone knows how complicated and how much of or headache the merging of pilot seniority lists would be. He would sooner pick up the infrastructure that runs the tour operation and leave the rest. Air Canada certainly doesn’t need the Air Transat fins or the crews right now when Air Canada has a lot of extra capacity lying around. I wouldn’t surprise me if Transat starts returning leased 330’s, keeps the Neo to conserve cash and just buys space on Air Canada because they can’t fill their own 330s this summer and Air Canada has extra capacity as they wait to see IF the deal closes.
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Fanblade
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Fanblade »

TD sponsored a conference call to investors a few days ago. Rousseau stated this recovery will be u shaped. Not vshaped like after SARS

He also stated AC had 2.4 Billion in capital expenditures planned for 2020. 1.2 B was for 737/220 aircraft still being spent. The remaining 1.2 B in planned expenditures have been reduced by several hundred million. No explanation of how.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by goldeneagle »

ayseven wrote: Mon Mar 30, 2020 7:50 am 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).
Lifelong BC resident. I had the unfortunate experience of doing a 6 month stint in YUL in the bad old days when I still flew for a living. My impression of Quebec, bunch of whining folks always got hand out for federal money while the roads are falling apart to the point of unsafe, bridges are crumbling, stadiums crumbling and all that federal money just being funneled into the pockets of corrupt politicians and thier friends, its sure not being spent on the decaying infrastructure.
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Jumbo744
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share

Post by Jumbo744 »

It is childish for pilots to attack each other just because they don't work at the same airline. Anyone who has gone through a pilot selection in the Middle East or Asia knows that pilot selection and interviews in Canada are a joke. We all are at our respective employers because we were at the right time and right place to catch an opportunity. Good for you if you are happy at AC or Transat, but it doesn't make you special or superior.
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