Air Canada Acquisition of Air Transat Approved by Minister

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a2btrail
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Air Canada Acquisition of Air Transat Approved by Minister

Post by a2btrail »

Feb 11 - Air Canada has been cleared by the federal government to take over Air Transat, Transport Canada announced today via twitter.

“The Honourable Omar Alghabra, Minister of Transport, today announced that the Government of Canada has approved the proposed purchase of Transat A.T. Inc. by Air Canada, subject to strict terms and conditions that are in the interests of Canadians,” it was announced in the release.

Happy for all my friends and family at AT. Though the process will be long. This is good news overall.
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Captnflex
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Captnflex »

With many conditions... :shock:
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Splash
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Splash »

Captnflex wrote: Thu Feb 11, 2021 7:55 pm With many conditions... :shock:

AIR_CANADA_ACQUISITION_OF_TRANSAT_-_TERMS_AND_CONDITIONS.pdf
I'm assuming most of the required slot divestitures were originally held by AT ?
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boeingboy
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by boeingboy »

Any chance that Air Canada will reject some of those conditions?

Seems pretty steep. Some are even head shaking.
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Sharklasers
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Sharklasers »

boeingboy wrote: Thu Feb 11, 2021 10:38 pm Any chance that Air Canada will reject some of those conditions?

Seems pretty steep. Some are even head shaking.
I would have to assume that these have already been agreed upon by AC otherwise why even approve the deal at all if you know they will just balk at it. I agree things like granting competitors access to aeroplan and giving up all the slots it calls for seems steep.
I think the Europeans are the last hope now to save the Air Canada pilots.
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thrust set
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by thrust set »

“I think the Europeans are the last hope now to save the Air Canada pilots.”

Curious what you meant by that ?

TS
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Sharklasers
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Sharklasers »

The europeans are the last best chance to save the careers of the 600 laid off AC pilots who will certainly suffer if 650 laid off transat pilots parachute in ahead of them.

Dont worry I dont think those guys and gals are getting their hopes up.
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FL030
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by FL030 »

Sharklasers wrote: Thu Feb 11, 2021 10:48 pm
boeingboy wrote: Thu Feb 11, 2021 10:38 pm Any chance that Air Canada will reject some of those conditions?

Seems pretty steep. Some are even head shaking.
I would have to assume that these have already been agreed upon by AC otherwise why even approve the deal at all if you know they will just balk at it. I agree things like granting competitors access to aeroplan and giving up all the slots it calls for seems steep.
I think the Europeans are the last hope now to save the Air Canada pilots.
Because then the liberals aren't the bad guys that hurt Quebec. Approval with terrible conditions is a pretty clever way out for them.
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Dias
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Dias »

9. Employment
For two years following Closing, Air Canada shall ensure that no fewer than 1,500 full-time active employees are employed exclusively in the conduct of the combined leisure travel businesses of Air Canada and Transat
Exclusively. So it seems no Transat employees at Mainline AC for at least 2 years, after closing.

Google says Transat has 5000 employees so they have to take 30% of that. Or if they take all 600 pilots at least 18% of the remaining staff.
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altiplano
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by altiplano »

I wonder what they imagine Transat AT employees will do at Air Canada when all the flying is surrendered?

No routes to bring in, fins they don't need, extra employees they don't need...
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Loon-A-Tic
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by Loon-A-Tic »

boeingboy wrote: Thu Feb 11, 2021 10:38 pm Any chance that Air Canada will reject some of those conditions?

Seems pretty steep. Some are even head shaking.
Agreed, these are the "terms & conditions" under which the sale is approved. There is nothing says AC has to go ahead with the purchase, that's the piece that is still unknown.
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rudder
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Re: Air Canada Acquisition of Air Transat Approved by Minister

Post by rudder »

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