Slightly better wage in this recession/depression , not very likely.FL-280 wrote: ↑Wed Jan 15, 2020 2:58 pm They are not giving up the scope clause, just limiting what TS pilots can do. The benefit, TS pilots wont be able to touch a mainline aircraft..... thats where the fuss is. The senior ac pilots that have waited a long time for that wb upgrade would let that pass in a heartbeat.
It would be a hybrid of what is going on in Europe, AC will take note of all that....
I truly believe... this is where this is going to go. Its socialized bidding at rouge too, trust me its a win win. No all out war, no 8 years in court. Both parties loose nothing. TS pilots stay vacation pilots with a slightly better wage, AC pilots remain mainline pilots and vacation pilots if they choose to.
AC and TRZ Agree to Terminate Arrangement
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
You are assuming that those who own shares want to sell them. Even if you see that the shares are listed at $5, it does not mean there are any for sale........
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
That comment was on Jan 15th...... 7 months later the whole deal is not very likely. Our world has changed in such a short period of timetsgas wrote: ↑Tue Jul 28, 2020 8:43 pmSlightly better wage in this recession/depression , not very likely.FL-280 wrote: ↑Wed Jan 15, 2020 2:58 pm They are not giving up the scope clause, just limiting what TS pilots can do. The benefit, TS pilots wont be able to touch a mainline aircraft..... thats where the fuss is. The senior ac pilots that have waited a long time for that wb upgrade would let that pass in a heartbeat.
It would be a hybrid of what is going on in Europe, AC will take note of all that....
I truly believe... this is where this is going to go. Its socialized bidding at rouge too, trust me its a win win. No all out war, no 8 years in court. Both parties loose nothing. TS pilots stay vacation pilots with a slightly better wage, AC pilots remain mainline pilots and vacation pilots if they choose to.
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
It's not an unreasonable assumption: average daily volume over the past 3 months has been just over 208,000 shares/day.Gilles Hudicourt wrote: ↑Wed Jul 29, 2020 4:02 amYou are assuming that those who own shares want to sell them. Even if you see that the shares are listed at $5, it does not mean there are any for sale........
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Sounds like September 27 is the date to circle on the calendar.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Seems like we have been talking to the same people....
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
You're right, they're worse because more people believe they are objective journalists.
But back to Transat. Why did they say they're going to use as many one month extension as they need if they only have one left?
But back to Transat. Why did they say they're going to use as many one month extension as they need if they only have one left?
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Other extensions will then require a mutual agreement with AC, not just a notice.Daniel Cooper wrote: ↑Sat Aug 01, 2020 2:23 pm You're right, they're worse because more people believe they are objective journalists.
But back to Transat. Why did they say they're going to use as many one month extension as they need if they only have one left?
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Under the current cash burn, quarantine outlook and government refusal of aid, by December AC will be weighing its Q1/Q2 2021 CCAA options.
Pretty sure Transat is just going through their fiduciary obligations at the moment knowing full well the deal under its current conditions is extremely remote.
I can’t see the Trudeau government trying to saddle AC with the current Transat deal in exchange for aid. The appearance of public money transferring to Transat shareholders is way too big a political hot potato.
I think what should concern everyone is what strings would be attached to government aid. For example what if aid comes with a carbon reduction target that forces AC and Transat to shrink to meet the target?
The past shows us Trudeau hands out public money to industry with demands they meet his agenda. I doubt he will pass on this opportunity.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
"Outside Date" means June 27, 2020, provided that if one or more of the Key Regulatory Approvals has not been obtained, either Party may, in its sole discretion:(a)extend such initial Outside Date by three (3) additional successive periods of one (1) month each; and(b)thereafter, further extend the Outside Date by three (3) additional successive periods of one (1) month each, provided that, at the time of each such additional extension, a suit, action, litigation or arbitration or other legal proceeding (including any civil, criminal, administrative or appellate proceeding) has commenced, been brought or is conducted or heard by or before any Governmental Entity in relation to a Key Regulatory Approval
would this mean the european probe being conducted right now would allow TRZ to use another 3 on month extentions after september 27th.
looks like they extended the outside date a few days ago to sept 27th. effectively using their last extension as per paragraph a above.
would this mean the european probe being conducted right now would allow TRZ to use another 3 on month extentions after september 27th.
looks like they extended the outside date a few days ago to sept 27th. effectively using their last extension as per paragraph a above.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
According to your text only if:
a suit, action, litigation or arbitration or other legal proceeding (including any civil, criminal, administrative or appellate proceeding) has commenced, been brought or is conducted or heard by or before any Governmental Entity
Has that happened? Is anyone bringing a legal action against the approval?
a suit, action, litigation or arbitration or other legal proceeding (including any civil, criminal, administrative or appellate proceeding) has commenced, been brought or is conducted or heard by or before any Governmental Entity
Has that happened? Is anyone bringing a legal action against the approval?
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I think the argument would be that the European Commission's investigation would effectively be an administrative proceeding, and would on that basis justify a further extension of the Outside Date by either of the parties.altiplano wrote: ↑Thu Aug 27, 2020 1:19 pm According to your text only if:
a suit, action, litigation or arbitration or other legal proceeding (including any civil, criminal, administrative or appellate proceeding) has commenced, been brought or is conducted or heard by or before any Governmental Entity
Has that happened? Is anyone bringing a legal action against the approval?
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
It's the regulatory approval itself though, it's not an action in relation to the regulatory approval being brought before a government or judicial entity. ie. a party seeking to block the action.
Something for lawyers to argue though.
Something for lawyers to argue though.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
The deal will be hull only . We are already overstaffed and we are prepared for the big confrontation because every Air Canada employee will be brought back to work before any residual buyout pilots get on. Not happy news but our pilots must come first.FL-280 wrote: ↑Wed Jul 29, 2020 5:35 amThat comment was on Jan 15th...... 7 months later the whole deal is not very likely. Our world has changed in such a short period of timetsgas wrote: ↑Tue Jul 28, 2020 8:43 pmSlightly better wage in this recession/depression , not very likely.FL-280 wrote: ↑Wed Jan 15, 2020 2:58 pm They are not giving up the scope clause, just limiting what TS pilots can do. The benefit, TS pilots wont be able to touch a mainline aircraft..... thats where the fuss is. The senior ac pilots that have waited a long time for that wb upgrade would let that pass in a heartbeat.
It would be a hybrid of what is going on in Europe, AC will take note of all that....
I truly believe... this is where this is going to go. Its socialized bidding at rouge too, trust me its a win win. No all out war, no 8 years in court. Both parties loose nothing. TS pilots stay vacation pilots with a slightly better wage, AC pilots remain mainline pilots and vacation pilots if they choose to.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
altiplano wrote: ↑Thu Aug 27, 2020 1:19 pm According to your text only if:
a suit, action, litigation or arbitration or other legal proceeding (including any civil, criminal, administrative or appellate proceeding) has commenced, been brought or is conducted or heard by or before any Governmental Entity
Has that happened? Is anyone bringing a legal action against the approval?
well no not exactly, my curiosity lays with the terms "action' and "leading proceeding" conducted by any government entity
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Can AC even handle this sale now at the original 720 mill purchase price or will this send them to bankruptcy.
I honestly think the deal may be dead in a months time, hence i was wondering about the extra extensions in the agreement.
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I don't think that is how it works, its going to be all or nothing under the current agreement. Any change to the current agreement requires a shareholder vote again afaik
We are less than 30 days away from the last extension that TRZ used. Thorjones bought up a good point, it would just depend on what each sides lawyer has to say.
I remember the EU halted the probe for a bit earlier this summer, pending some missing information/documents. Has it resumed the probe?
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Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
The probe has not resumed according to the EU commission competition website and Calin on the Q2 conference call.
https://ec.europa.eu/competition/elojad ... e=2_M_9489
When the probe resumes they will publish it on the case page
Example:
https://ec.europa.eu/competition/elojad ... e=2_M_9343
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
Sharklasers wrote: ↑Fri Aug 28, 2020 9:46 amThe probe has not resumed according to the EU commission competition website and Calin on the Q2 conference call.
https://ec.europa.eu/competition/elojad ... e=2_M_9489
When the probe resumes they will publish it on the case page
Example:
https://ec.europa.eu/competition/elojad ... e=2_M_9343
Was wondering about this for a while now. Thanks!
Re: Air Canada and Transat announce Increased Purchase Price to $18 per Share
I posted this in the General Airlines forum but I thought this would give some guys food for thought on the future of the AC-Transat deal.
Morning Star:
"Many investors are betting on a rebound for Air Canada stock. That would lead to 200% upside or more. The more likely scenario, however, is that the company goes bankrupt. Even if Air Canada can continue to raise capital over the next 12 months, the dilution will wipe out any upside for current investors."
Doesn't look good in the short/long term for AC. It could take more than 3 years to pay all this debt back. Too many wide-bodies and too much exposure to international markets. I don't want to see another bailout but they are still burning through way too much cash let alone a deal to buy Transat.
Morning Star:
"Many investors are betting on a rebound for Air Canada stock. That would lead to 200% upside or more. The more likely scenario, however, is that the company goes bankrupt. Even if Air Canada can continue to raise capital over the next 12 months, the dilution will wipe out any upside for current investors."
Doesn't look good in the short/long term for AC. It could take more than 3 years to pay all this debt back. Too many wide-bodies and too much exposure to international markets. I don't want to see another bailout but they are still burning through way too much cash let alone a deal to buy Transat.