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Air Canada Alliance — Transat | Pierre Karl Péladeau reiterates his interest

Written by mac

(Montreal) While the marriage between Transat A. T. and Air Canada seems more and more uncertain, Pierre Karl Péladeau reiterates his interest in the place of the tour operator and wishes to see his managers negotiate with him.

As the country’s largest airline refused to extend the February 15 deadline to complete the deal – which got a conditional green light from Ottawa but is still awaiting approval from the European Commission – the two parties can now terminate the agreement at any time.
However, they are negotiating “potential changes” to their arrangement.
There is thus an opportunity for the parent company of Air Transat to give up its alliance with Air Canada to “begin negotiations with a new buyer”, argued Mr. Péladeau, in a press release released at the end of the afternoon. , Tuesday.

“I wish to undertake discussions with the management of Transat in order to allow the Quebec company to emerge from the serious state of uncertainty in which it has been plunged for too long and which endangers its sustainability,” he explained. .
Last month, Transat A. T. disclosed that it had received, in December, a proposal for $ 5 per share from MTRHP, the management company of the businessman. However, it was not considered superior to Air Canada’s offer.
Referring to the confidentiality clauses to which it is subject, the controlling shareholder of Quebecor stressed that legally, it could “comment on the situation otherwise” than by reiterating its interest in acquiring the tour operator.

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