Air Canada Coronavirus Letko Brosseau Canada city Ottawa covid-19 Air Canada Coronavirus Letko Brosseau Canada city Ottawa

Ottawa gives green light to Air Canada’s $190M purchase of Transat

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The government said the acquisition is the best outcome for workers, Canadians travellers and other industries that rely on air transport.Transat shareholders in December approved the revised deal, equal to $5 per share and a significant decrease from an earlier $720 million or $18 per share.Air Canada won support from Transat’s largest shareholder, Letko Brosseau, after sweetening the deal in August 2019 from its initial offer of $520 million or $13 per cent a few months earlier.Alghabra said approval is subject to “strict conditions which will support future international competition, connectivity and protect jobs.“We are confident these measures will be beneficial to travellers and the industry as a whole,” he added.Air Canada must.

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