AC and TRZ Agree to Terminate Arrangement

[GATRKGA]

If say in Feb both companies required around 5000-5500 pilots in their outlook. Now combining concessions as well as general upgauging and reduction of capacity long term planning could be say 4000-4500 pilots. Without the competition capacity will shrink with prices and yields rising. For the employees that will mean less positions to go around. I wouldnt call getting the opportunity to comeback years down the road as a job. And dont forget almost 40,000 people work for both companies, many will permanently loose their jobs without the ability to be called back. They matter too.

While you are right about total employment loss, pilots will be fine. We follow where the flying goes. The flying won’t disappear.

It will be slow for a bit, but every pilot has a position waiting for them in the next year or max 2.

It really only are the last 100 pilots at ts who won’t have a position in the beginning. But in a 10 year recall structure, they’ll be in the left seat in that time frame at AC.

Quote this post in 2026 or 2027. I get to tell you that I told you so.

So the bottom people from AC and Transat can just go start over at another carrier who steps in to fill the gap from concessions? And it's not just pilots, there are 10 times as many other people to consider than just pilots.
I just argue for the course of action that employees the most people for both Air Canada and Transat, that's all.

Right, again nothing you or I can do about someone who is in a support staff capacity that loses their job. As pilots, everyone will have jobs who currently sit on both seniority lists.

[Captain Kirkk]

Enjoy the bottom of the list! I’d love to mentor you guys as my FO’s

[Savage Poetry]

I just got a line of credit approved at the bank with the news on AC buying TS today! Everyone and their mom knows this is going through.

[DanWEC]

You guys sound like first year GGN pilots, and probably as old too.

[dash8driver]

I mentioned this in another post however is it just me or does the merger seems pretty negative for anyone with a future desire to go to Air Canada? An even larger list of recalls to get through before hiring is even considered.
A career outside of Canada looks even more attractive now than before.

[FL320]

I mentioned this in another post however is it just me or does the merger seems pretty negative for anyone with a future desire to go to Air Canada? An even larger list of recalls to get through before hiring is even considered.
A career outside of Canada looks even more attractive now than before.

You know the answer. However nobody knows what’s gonna happen in the world next month so anything can happen. Good luck with a career outside Canada; the world is full of experienced type rated pilots looking for a job...when you see all these pay to fly ads for FO and Captains..it’s really bad out there!

[FL-280]

One thing I did find odd yesterday was no media release from Air Canada. Not even a statement about the regular crap "we are please of the shareholders decision today and look forward to work with AT for a smooth transition" ... They just put out nothing.
It makes me think of the silence first time around and how it led to a revised price. I don't know what this silence means but it's just something to think about.

[Localizer]

One thing I did find odd yesterday was no media release from Air Canada. Not even a statement about the regular crap "we are please of the shareholders decision today and look forward to work with AT for a smooth transition" ... They just put out nothing.
It makes me think of the silence first time around and how it led to a revised price. I don't know what this silence means but it's just something to think about.

What are they going to say? They made their intentions known already .. they’re just waiting to cross the finish line. Don’t cloud your head with delusions .. AC has had a lot of opportunities to scuttle this deal, they chose to pursue it. That says a lot.

[FL320]

Air Canada just offered to the EU concessions on 27 routes including 13 out of Montreal (which were identified as problematic regarding the competition). They are doing all what it takes to close the deal.

[FL-280]

Air Canada just offered to the EU concessions on 27 routes including 13 out of Montreal. They are doing all what it takes to close the deal.

Have a reference on this? I would like to read that

[JoeyBarton]

Source?

[FL320]

Air Canada just offered to the EU concessions on 27 routes including 13 out of Montreal. They are doing all what it takes to close the deal.

Have a reference on this? I would like to read that

Out of JM Eustache’s mouth to the media yesterday after the meeting, you can find a copy on the internet.

[rudder]

Air Canada just offered to the EU concessions on 27 routes including 13 out of Montreal (which were identified as problematic regarding the competition). They are doing all what it takes to close the deal.

All that AC has to do is propose to drop the TATL route authorities associated with Rouge and the TS TATL route authorities that overlap AC mainline.

I am guessing that is exactly what was submitted.

[FL-280]

Air Canada just offered to the EU concessions on 27 routes including 13 out of Montreal. They are doing all what it takes to close the deal.

Have a reference on this? I would like to read that

Out of JM Eustache’s mouth to the media yesterday after the meeting, you can find a copy on the internet.

Thanks

[goldeneagle]

Air Canada floated a billion dollar share offering today. The day after that closes, expect an announcement about refunds, then later the same day, government will approve the transaction.

The ducks are lining up in a row....

[rudder]

Air Canada floated a billion dollar share offering today. The day after that closes, expect an announcement about refunds, then later the same day, government will approve the transaction.

The ducks are lining up in a row....

AC won’t be wasting its own cash on refunds.

That will be part and parcel with a zero interest loan from the Feds.

If YOW sinks the TRZ transaction, it will end up like a political boomerang should TRZ fail. The Feds would have to pump $500MM-1B in to TRZ and still have massive risk of never recouping a penny.

CR is backing the Libs in to a corner.

[goldeneagle]

AC won’t be wasting its own cash on refunds.

It's NOT their own cash, it's money they have hi-jacked from the customer base, turned a holiday ticket into an interest free loan in the form of a travel credit, many of which will likely expire before folks have an opportunity to use it.

[rudder]

AC won’t be wasting its own cash on refunds.

It's NOT their own cash, it's money they have hi-jacked from the customer base, turned a holiday ticket into an interest free loan in the form of a travel credit, many of which will likely expire before folks have an opportunity to use it.

True. But until the CTA changes its position on the matter, those are the rules for everybody. No point in singling AC out. The fact of the matter is that mandatory cash refunds would put several companies out of business, most notably TRZ and SWG. And ONEX might just refuse to pay instead placing WJ in CCAA making those obligations simply unsecured claims in that process.

This will be resolved when the Feds remove the ownership proposal and stop demanding input in to a company’s business plan (fleet/routes/schedule/etc). Tying restrictions on cash use from government proffered loans however is fair game, although the Feds did a poor job in making those restrictions stick in the previous round of general corporate handouts.

[DanWEC]

Slightly off topic, but with AC's Class A and B share offerings to raise cash, wouldn't that work to dilute the current share price by the same amount? Already down 10% today...

[fish4life]

People keep mentioning Onex / WJ but they are actually the only airline refunding tickets right now. Where are they getting the cash for it? No one knows or will know because they are private but they seem to be getting the cash to refund from somewhere.

[FL320]

People keep mentioning Onex / WJ but they are actually the only airline refunding tickets right now. Where are they getting the cash for it? No one knows or will know because they are private but they seem to be getting the cash to refund from somewhere.

“TORONTO -- Onex Corp. says its private equity investments increased in value this year, despite the economic volatility caused by the COVID-19 pandemic.
The company, which manages a fund that bought WestJet Airlines Ltd. in a $5-billion deal last December, didn't announce details about the Calgary-based airline.
Overall, the Toronto-based investment firm says it earned US$501 million, or US$5.29 per fully diluted share, in the three months ended Sept. 30.”

I know many people are struggling because of covid at the moment; but it’s been a great opportunity for most investors.

[Localizer]

CR is backing the Libs in to a corner.

Liberals are too dumb to notice. Or don’t care.

[FL320]

Marc Garneau says decision on Air Canada bid for Air Transat is ‘very near’
https://www.theglobeandmail.com/busine ... /#comments

[Localizer]

Marc Garneau says decision on Air Canada bid for Air Transat is ‘very near’

He also said industry support was on the way ..... 6-8 months ago.

[Latitude]

We all know it's a done deal. No surprise.