AC and TRZ Agree to Terminate Arrangement

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tsgas
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by tsgas »

GATRKGA wrote: Sun Feb 14, 2021 10:59 am
tsgas wrote: Sun Feb 14, 2021 10:45 am
GATRKGA wrote: Sat Feb 13, 2021 10:19 pm

Glad to see someone with a reputation and a good head on their shoulders see the obvious in that everyone will have jobs in a few years.

I really don’t get the delusional thinking from some in here that are somehow inspired by the thought of people ending up jobless because of some sad personal agenda against this acquisition. It is pathetic and I look forward to seeing you backtrack your sentiments when everyone is on the list by the end of 2021.



Perhaps for the immediate future but everyone currently at property will not end up job less unless it’s by their own choice to leave the integrated seniority list voluntarily.

Everyone will be on the list, whether you like it or not.

Tsgas, by your opinion, why acquire ts. Just let it die and let your own product raise from the ashes. Why dish out money for ts? Especially when slots aren’t worth that much right? Get your head out of your rear end bud. You answered your own question too about why transat wouldn’t just take the superior offer that would Keep everyone seeming employed... clearly because Ac has a plan and slashing ts to the ground isn’t part of it.

Here’s something everyone needs to understand about transat. With our without the acquisition, they will survive. Quebec will not let their star go out of business. They may be leveraged up the ying yang but they will survive. It’s why ac wants control of it because you don’t want a transat sprung loose when we eventually come out of this. You rather control it. And before you start quoting bs from earnings calls, I recommend you give a few securities lawyers a call over at faskeneau and learn a bit about the details in why a company like transat would publicly and politically make it seem like it’s failing. Sheeple believe everything they read on fine print. Let me guess, you think the com also saves your ass in an accident right? Lol, noob.

You may have immediate positions lost but long term everyone will be on the ACPA/alpa seniority list depending on how that vote goes.

Good luck everyone.
More hot air from the wind bag Gatrkga, that can't predict the future any better than the local Fortune Teller can. Don't give up your day job , you silly clown. :lol:
Strong argument, halfwit. Let’s let it play out and quote each other in a few years.

Altiplano, you’re correct. In the present context it equals 1. But in the recovery every ts pilot will have a job at ac IF the acquisition goes through. It’s pretty clear most don’t want it to go through on both sides in the current context. But that doesn’t matter.

What rudder said is correct. Which is exactly that I’m saying too.

Good luck everyone.
You're good at being the bar room drunk with the loud mouth but your insults and crude remark show you to be a low life with a bad attitude.
So sober up , think about what you want to say, and then maybe post something with a little bit of intelligence and manners. You silly bum. :smt014
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Last edited by tsgas on Sun Feb 14, 2021 5:26 pm, edited 1 time in total.
800man
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by 800man »

Oh good, This is happening again. :roll:
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Localizer »

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altiplano
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by altiplano »

To paraphrase:

"Everyone else gets fucked, but I'm good."
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Latitude
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Latitude »

AC pilots on here: You TRZ guys should end up in the streets, no job, no revenue, so that eventually you get hired BOTL at 1st year pay, while my seniority remains untouched, because 10 positions in a seniority list is more important than you having a job.

How sweet of them. Or selfish.

Oh and by the way, no one here knows what is going to happen, so maybe save some time and stop writing your bullshit for no reason as you ALL have no idea what you're talking about. Unless you're part of the board of directors, which I doubt as you wouldn't be wasting time writing crap here with your ego.
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ahramin
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by ahramin »

Latitude wrote: Mon Feb 15, 2021 2:28 pmwasting time writing crap here
Oh the irony.
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LittleNelly
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by LittleNelly »

Latitude wrote: Mon Feb 15, 2021 2:28 pm AC pilots on here: You TRZ guys should end up in the streets, no job, no revenue, so that eventually you get hired BOTL at 1st year pay, while my seniority remains untouched, because 10 positions in a seniority list is more important than you having a job.

How sweet of them. Or selfish.
It’s not about seniority. Air Canada has 20,000 people out of work right now, so logically air canada people are looking out for their own. Why should Air Canada keep people on the street in exchange to save Transat jobs. The fact is the combination does mean LESS jobs overall. Of course AC isn’t going to be happy to have surplus Transat people come in and try to push out Air Canada people.
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FL320
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by FL320 »

LittleNelly wrote: Mon Feb 15, 2021 5:23 pm
Latitude wrote: Mon Feb 15, 2021 2:28 pm AC pilots on here: You TRZ guys should end up in the streets, no job, no revenue, so that eventually you get hired BOTL at 1st year pay, while my seniority remains untouched, because 10 positions in a seniority list is more important than you having a job.

How sweet of them. Or selfish.
It’s not about seniority. Air Canada has 20,000 people out of work right now, so logically air canada people are looking out for their own. Why should Air Canada keep people on the street in exchange to save Transat jobs. The fact is the combination does mean LESS jobs overall. Of course AC isn’t going to be happy to have surplus Transat people come in and try to push out Air Canada people.
Totally understandable but this is not Transat’s employees fault; we are just pawns.
Why should Air Canada keep people on the street in exchange to save Transat jobs.
Ask your Management; it’s 100% their decision. Peladeau has just reiterated in the French media that his offer is still valid and that his financial group has plenty of money to buy and then run Transat. Air Canada is not the only potential savior. AC is not forced to buy Transat. Why don’t they cancel the purchase although they have the ability to do it at anytime?
We understand your anger but again if you have to blame someone; it’s your own CEO.
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Blueshift
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Blueshift »

https://www.transat.com/en-CA/corporate ... ses/124361

Latest update. It appears the Outside Date won't be extended.
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altiplano
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by altiplano »

GATRKGA wrote: Fri Feb 12, 2021 11:13 am
altiplano wrote: Fri Feb 12, 2021 10:30 am Obviously Transat isn't going to serve notice to pull out.

I don't see AC as doing anything official, neither agree to extend or pull out of the arrangement unless there is something in it for them. There is no advantage to either move, Transat has nowhere else to go and AC can keep their options open.
By Feb 15 they will either have extended, or walked away.
Once again you are wrong.
Transat has been informed by Air Canada that Air Canada will not agree to an extension of the current Outside Date.
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Localizer »

There is no advantage at this point to extend the outside date. They’ll sit on it till the Europeans make a decision, if the Europeans ever make a decision.

According to CR and Jerry **** a financial aid package is just around the corner ... positive days are coming people, we are almost at the end of this marathon.

Keep the faith ...
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

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Apparently AvCanada thinks Jerry’s last name is a bad word .. lol.
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Dias
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Dias »

Transat has been informed by Air Canada that Air Canada will not agree to an extension of the current Outside Date. In such case, even if the Arrangement Agreement is amended, Air Canada and Transat would retain the ability to terminate the agreement at any time.
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rudder
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by rudder »

Transat Provides Status Update on Arrangement with Air Canada

MONTREAL, Feb. 16, 2021 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation") wishes to communicate a status update regarding its contemplated arrangement with Air Canada (the "Arrangement") under the revised arrangement agreement between Transat and Air Canada dated October 9, 2020 (the "Arrangement Agreement").

As announced on February 11, 2021, although the Canadian government has approved the Arrangement, the Arrangement must still receive the approval of the European Commission (the "Commission"). The Commission has requested additional information from the parties and its decision is now expected to be rendered only in the first half of 2021.

As indicated previously, the outside date for the consummation of the Arrangement under the Arrangement Agreement (the "Outside Date") was set at February 15, 2021 and has now passed. As a result of the occurrence of the Outside Date without the prior receipt of required approval from the Commission, each of Air Canada and Transat are currently entitled, at any time, to terminate the Arrangement Agreement upon notice to the other party. Until terminated or amended by the parties, the Arrangement Agreement remains in effect in accordance with all of its terms.

Transat and Air Canada are continuing their discussions regarding potential amendments to the Arrangement Agreement that may be required. In the context of such discussions, Transat has been informed by Air Canada that Air Canada will not agree to an extension of the current Outside Date. In such case, even if the Arrangement Agreement is amended, Air Canada and Transat would retain the ability to terminate the agreement at any time. There can be no assurance that an agreement on any such amendments will be reached, or that Air Canada or Transat will not terminate the Arrangement Agreement if the relevant circumstances so warrant.
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Sharklasers
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Sharklasers »

The market didn’t appreciate that press release. Trz down almost 10% today
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rudder
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by rudder »

AC resumes its preferred position of being in the drivers seat. It can walk from the deal with notice and a nominal termination charge.

AC can now wait to see what financial aid package YOW is offering, what impact that will have on the proposed transaction and on its financial and competitive position going forward, and what conditions will result from the EU review.

If there is another party that sees value in TRZ, time to step up to the plate.
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Fanblade
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Fanblade »

rudder wrote: Tue Feb 16, 2021 8:31 am
Transat and Air Canada are continuing their discussions regarding potential amendments to the Arrangement Agreement that may be required. In the context of such discussions, Transat has been informed by Air Canada that Air Canada will not agree to an extension of the current Outside Date.
Read that statement a couple of times
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by Fanblade »

rudder wrote: Tue Feb 16, 2021 8:39 am AC resumes its preferred position of being in the drivers seat. It can walk from the deal with notice and a nominal termination charge.

AC can now wait to see what financial aid package YOW is offering, what impact that will have on the proposed transaction and on its financial and competitive position going forward, and what conditions will result from the EU review.

If there is another party that sees value in TRZ, time to step up to the plate.
Or is this a manufactured burning platform for the purpose of industry aid? Nothing focuses the mind like a hanging in the morning.

I know he just retired but his finger prints are all over the deal to date.

CALIN ROVINESCU seems to get an extra hit of adrenalin when the pressure in a crisis reaches a climax. "The expression we would use is a 'burning platform,'" he says. A favourite adage of his: "Nothing focuses the mind like a hanging in the morning."

https://www.theglobeandmail.com/report- ... le1090487/
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rudder
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by rudder »

Unless CR has been retained as an advisor, it is now the MR show.

Having said that, CR and MR have worked together on the varying incarnations of this transaction for a long time. MR would be intimately familiar with the benefits and the liabilities.

I think that AC wants to continue to exert pressure on the Feds in regard to the terms and conditions of industry specific aid to make sure that both with or without the transaction that AC will not be left at a competitive disadvantage.
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SeaBat
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by SeaBat »

The news today does not look good. How does that song go? "Nah, nah, nah, nah... goodbye."
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JoeShmoe
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by JoeShmoe »

Ya AC has got the feds right where they want them now. Trudeau does NOT want to see transat go bankrupt, but also does NOT want to bail out airlines. Either outcome has benefits to AC.
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tsgas
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by tsgas »

SeaBat wrote: Tue Feb 16, 2021 10:10 am The news today does not look good. How does that song go? "Nah, nah, nah, nah... goodbye."
The Canadian government wanting to confiscate so many landing slots , surly threw a monkey wrench , into the desirability of a merger. :twisted:
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altiplano
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by altiplano »

I wouldn't say it's over.

Time for Peladeau to put his money where his mouth is with a definitive offer, and if he does I think the deal with AC is definitely over, Transat management know they're in a corner and standing on a ledge, they'll take it to put the uncertainty of AC's plan and the European regulator behind them.

If a Peladeau deal doesn't come AC will be looking for cheap cheap cheap and a new deal at a further discount.

I'd give odds 2:1 a deal happens, and even odds on if it's AC or Peladeau.

And if a deal doesn't happen, it will just be something else everyone can blame on Air Canada... I can just imagine the comments on the CBC article now.
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airboy1
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by airboy1 »

AC needs the TRZ brand. They won't let this deal fall through. Ac obviously wants a better financial deal with the government but this deal is too good for AC to let go. :wink: It will work out.
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Re: AC/TRZ Transaction Approved by TC - $5 per Share

Post by FL320 »

They have the opportunity to say no once for all but they don’t, they’re just acting like a princess... :D
Maybe they don’t want to pay the 30M$ fees yet...because as long as the deal does not get the approval from Europe, the fee is still applicable.
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Last edited by FL320 on Tue Feb 16, 2021 3:37 pm, edited 3 times in total.
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