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


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