Air Canada is still looking to take Transat AT under its wing despite the COVID-19 pandemic that has rocked the airline industry, but it will pay far less than originally expected.The two companies have agreed on revised terms that would see Air Canada pay $5 a share for the parent company of Air Transat, compared to the $18 per share originally pledged in its takeover bid.
Coronavirus: Air Transat revenues drop by 99%, with 2,000 layoffs expected That brings the total price of the takeover to $190 million, down from $720 million previously.Air Canada says in a news release that the pandemic has had a devastating effect on the aviation industry and the value of airlines and their assets, but it still wants to proceed with the.