Air Canada has concluded a cut price deal to acquire Air Transat. The flag-carrier will now acquire all shares in the smaller airline for C$5 each, payable to shareholders in cash or shares of Air Canada at a fixed exchange ratio of 0.2862 for each Transat share. The value of the transaction is approximately C$190 […]
Air Canada will face a competition probe before the airline can complete its proposed acquisition of Air Transat. Air Transat shareholders overwhelmingly voted last week in favour of the C$720 million deal, which valued the carrier at C$18-a-share. However, Canadian transport minister, Marc Garneau, has now revealed he believes the deal raises issues of public […]
Two pilots were arrested on suspicion of being under the influence of alcohol as they prepared to fly a transatlantic passenger jet from Scotland to Canada. Staff are understood to have raised concerns over the pilots’ behaviour before the Air Transat A310, carrying up to 250 passengers on board, was due to depart from Glasgow […]