Air Transat

Air Canada just bought Transat for $520 million

Air Canada just bought Air Transat after a 30-day negotiation period

The airline bought Transat A.T. Inc. for $13 a share, which values the company at $520 million. 

Despite the merger, the airlines will still be run as separate brands and maintain their head offices in Montreal. 

By approving the deal, Air Transat effectively turned down another offer from Group Mach Inc., a Quebec real estate group that was offering $14 per share. 

Still, it's not quite a done deal. Shareholders and regulatory agencies will still have a say in the buyout, and people aren't happy that Canada's airline industry will be controlled by even fewer players than before. 

Lead photo by

Air Transat


Join the conversation Load comments

Latest in City

Toronto hotel cancels couple's wedding after it gets picked by the NHL

15 recent flights in and out of Toronto have confirmed cases of COVID-19

Shooting at Scarborough Town Centre leaves at least one person injured

Someone was just attacked on King West for taking video of busy patios

Peel Police identify suspect in racist rant at Mississauga T&T supermarket

This is how many people are complying with the TTC's mandatory mask policy

Here's what might change when the state of emergency in Ontario is over

Montreal is removing benches that stigmatize homelessness so will Toronto be next?