Photo: Paul Chiasson, The canadian Press
The shareholders of the parent company of Air Transat had overwhelmingly accepted the offer adding to $ 18 per share — or about $ 720 million — proposed by Air Canada.
After the competition Bureau of Canada, it is the turn of the european Commission to make reservations in respect of the takeover of Transat A. T. by Air Canada.
By means of a press release on Monday, the european authorities have expressed their concerns about reduced competition on 33 routes between Canada and Europe.
The european Commission is given until September 30 to decide, at the end of a more thorough investigation.
Despite the crisis in commercial aviation, by the pandemic of COVID-19, the Commission wants to ensure that conditions remain “normal and healthy” when the situation will return to normal, pointed to the person in charge of competition policy, Margrethe Vestager.
In march, the competition Bureau has estimated that the transaction, if it materialized, could have a negative impact on 83 routes, of which 49 between Canada and Europe, as well as 34 other to sun destinations in Florida, Mexico, central America and the Caribbean.
The shareholders of the parent company of Air Transat had overwhelmingly accepted the offer adding to $ 18 per share — or about $ 720 million — proposed by Air Canada. A decision of the Trudeau government is always expected in the folder.