The two companies said in a statement that the intention to merge between the companies “ended by mutual agreement” and “with immediate effect”.
This decision is justified and based on the premise that the European Union “would not approve this transaction”.
The merger process, which started approximately two years ago, suffered several delays due to the current pandemic crisis, but also due to the requirements imposed by the European Union, which Air Canada would no longer be willing to grant.
For this reason, “the decision was made to terminate the merger process between both companies in advance,” the statement reads.
Transat is immediately taking advantage of the end of this agreement with Air Canada to announce that, since it is not “limited to the restrictions imposed by this principle of agreement” between both companies, it will “immediately concentrate on resuming its operations. and in the implementation of its strategic airline recovery plan ”.
It should be noted that Transat and Air Transat fly to 60 destinations in more than 25 countries in the Americas and Europe.
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