Air Canada in talks to buy rival airline

Friday, 16 May, 2019 0

 

Air Canada is planning to buy the parent company of rival Air Transat for about C$488 million.

Transat has agreed to a 30-day period of exclusive negotiations with Air Canada regarding a possible deal, which would value the company at $13 per share.

The company sells tour packages, hotels and air travel under the Transat and Air Transat brands.

Transat said that after being courted by several interested parties, the board had chosen to finalise negotiations on an exclusive basis with Air Canada.

Air Transat operates flights from Gatwick to Toronto, Montreal, Vancouver and Calgary.

Transat announced earlier this month that it was in talks with several potential buyers.



 

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Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk



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