Air Canada had 48% of the Canada-Europe market pre-pandemic and Air Transat had roughly 18% of the Canada-Europe market. It’s easy to understand why the EU wouldn’t want to approve this merger/buyout. Even I can see the imbalance in the proposal.
The potential of handing Air Canada 2/3rds of this market couldn’t have been all that appealing to the EU.
Debt payments for AT due the end of April could sound the death knell since the Canadian government doesn’t seem all that eager to come up with urgently needed industry assistance, financially or otherwise and Pelardeau’s offer (which is still on the table) simply falls short of what AT needs.
This won’t end well.
https://www.msn.com/en-ca/lifestyle/...UEN?li=AAggFp5
Willie Everlearn