Air Canada looking to buy Air Transat! - DA.C
 

Go Back   DA.C > Local Control > 1:1 Scale Commercial Aviation
Supported by:

Reply
 
LinkBack Thread Tools Rate Thread
Old 05-16-2019, 11:00 AM   #1
"Hello Moto"!
 
T7_4ever's Avatar
 
Join Date: Jan 2011
Location: Canada
Posts: 6,154
Default Air Canada looking to buy Air Transat!

What have WestJet and Air Canada been drinking the past week? Never flown on Air Transat, but looks like they will become Air Canada soon. T7

https://www.ctvnews.ca/business/air-...nsat-1.4424794

MONTREAL -- Air Canada's interest in buying rival Transat AT Inc. for about $520 million is getting positive feedback from industry watchers and stock traders.

The two companies say they're in exclusive talks to work out details of a deal that would pay a premium price of $13 per share for Transat, the Montreal-based owner of Air Transat and numerous vacation travel businesses.

McGill University professor Karl Moore says a combination of the two companies would help grow Air Canada Vacations, which competes with Transat, WestJet and others in the leisure travel market.

Moore also says a deal that keeps Transat's head office in Montreal would be greeted favourably by politicians.

Analyst Walter Spracklin of RBC Dominion Securities writes in a note to clients that there are a number of factors that would justify a premium price for Transat stock.

In early trading, Transat shares rose about 15 per cent to $12.20 while Air Canada stock edged up almost two per cent to $39.50 at the Toronto Stock Exchange.

Transat chief executive Jean-Marc Eustache said earlier Thursday that an Air Canada deal represents the best prospect for maintaining or growing the number of jobs that Transat has been developing in Quebec and elsewhere.

Transat offers vacation packages, hotel stays and air travel under the Transat and Air Transat brands, with a primary focus on the transatlantic market during the summer and sun destinations through the winter.

Air Canada chief executive Calin Rovinescu said a combination with Transat represents a great opportunity for both companies.

"The acquisition presents a unique opportunity to compete with the very best in the world when it comes to leisure travel," Rovinescu said in a statement.

Transat first disclosed that it had held preliminary talks regarding the possible sale of the company last month, but did not name the potential bidders at that time.

The news of a potential sale comes after Toronto-based Onex Corp. announced a deal to buy WestJet Airlines Ltd. earlier this week.

Transat shares closed at $10.58 on the Toronto Stock Exchange on Wednesday.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
T7_4ever is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 05-16-2019, 12:48 PM   #2
Junior Collector
 
Join Date: Mar 2019
Posts: 15
Default

2 atrocious airlines with piss poor customer service. Air Canada and Westjet already fix their prices and there's absolutely no competition or options for Canadian flyers. A ticket from Montreal to Winnipeg costs almost as much as a ticket from Montreal to Paris.
Ron97 is offline   Reply With Quote
Old 05-16-2019, 02:46 PM   #3
747-400 Collector
 
JagT747's Avatar
 
Join Date: Aug 2018
Location: Toronto
Posts: 227
Default

Quote:
Originally Posted by Ron97 View Post
2 atrocious airlines with piss poor customer service. Air Canada and Westjet already fix their prices and there's absolutely no competition or options for Canadian flyers. A ticket from Montreal to Winnipeg costs almost as much as a ticket from Montreal to Paris.
Just imagine if Air Canada is the only airline left on the Canadian airline market. If this goes through there would only be 3 airlines left competing for leisure travel (AC, WJ, and Sunwing) (Rouge doesn’t really count since it’s air canada all over again) but just imagine how atrocious travel would be for Canadians with Air Canada being the only airline left because Westjet has just began major international travel (with the Dreamliner) to expand to more destinations. If the new Westjet doesn’t pick up Air Canada will literally dominate the international travelling market for Canadians choosing to set whatever price they want because of scarce competition
__________________
JAG

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
JagT747 is offline   Reply With Quote
 
Old 05-16-2019, 03:56 PM   #4
Design with Elegance.
 
Upkeep's Avatar
 
Join Date: Jul 2008
Location: Toronto, CANADA
Posts: 5,432
Thumbs up Re: Air Canada looking to buy Air Transat!

Quote:
Originally Posted by Ron97 View Post
2 atrocious airlines with piss poor customer service. Air Canada and Westjet already fix their prices and there's absolutely no competition or options for Canadian flyers. A ticket from Montreal to Winnipeg costs almost as much as a ticket from Montreal to Paris.
No kidding. And the last time I was going to fly, a round-trip from Toronto to Sudbury (each) cost roughly equivalent to one-way to Paris. That was on Porter (Q400). My wife and I said screw it and took the bus (Ontario Northland) and we had a wonderful time on a brand-spanking-new bus with wi-fi.

Airlines in Canada want to continue to squander operating costs, and then cry poor-mouth while jacking up the fares, be prepared—we'll find alternatives. We did. Three times now.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Élégance en vol . . . Airfrance-style!
Upkeep is offline   Reply With Quote
Old 05-16-2019, 04:00 PM   #5
Design with Elegance.
 
Upkeep's Avatar
 
Join Date: Jul 2008
Location: Toronto, CANADA
Posts: 5,432
Default Re: Air Canada looking to buy Air Transat!

Quote:
Originally Posted by T7_4ever View Post
What have WestJet and Air Canada been drinking the past week? Never flown on Air Transat, but looks like they will become Air Canada soon. T7

. . . a combination of the two companies would help grow Air Canada Vacations, which competes with Transat, WestJet and others in the leisure travel market.
.
I have, and I'll never fly Air Transhat again. Long story somewhere else on this forum. These two deserve each other.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Élégance en vol . . . Airfrance-style!
Upkeep is offline   Reply With Quote
Old 05-16-2019, 04:03 PM   #6
Junior Collector
 
Join Date: Mar 2019
Posts: 15
Default

Quote:
Originally Posted by Upkeep View Post
Quote:
Originally Posted by Ron97 View Post
2 atrocious airlines with piss poor customer service. Air Canada and Westjet already fix their prices and there's absolutely no competition or options for Canadian flyers. A ticket from Montreal to Winnipeg costs almost as much as a ticket from Montreal to Paris.
No kidding. And the last time I was going to fly, a round-trip from Toronto to Sudbury (each) cost roughly equivalent to one-way to Paris. That was on Porter (Q400). My wife and I said screw it and took the bus (Ontario Northland) and we had a wonderful time on a brand-spanking-new bus with wi-fi.

Airlines in Canada want to continue to squander operating costs, and then cry poor-mouth while jacking up the fares, be prepared—we'll find alternatives. We did. Three times now. [IMG class=inlineimg]https://www.diecastaircraftforum.com/images/smilies/cool.gif[/IMG]
I am looking for tickets to Winnipeg now for the summer and Westjet and Air Canada have them at the same exact price. If I want to fly early in the morning I got to choose Air Canada, if I want to fly out a bit later in the morning I can choose Westjet. There is no competition, this is as close to price fixing as it comes. This is a huge overall problem in Canada whether it's air travel, telecommunications, ground travel, gas prices, all the prices are fixed.
Ron97 is offline   Reply With Quote
Old 05-17-2019, 01:31 AM   #7
RUN, baby, RUN
 
HTF200's Avatar
 
Join Date: May 2008
Location: Really far away
Posts: 1,950
Default Re: Air Canada looking to buy Air Transat!

Want to live in Reunion ?
My electricity expenses were about 1000 € of which 550 € were taxes and services.
Of course there is only one petrol importer, one electricity company, which happens to be half state owned and half private, so in essence privatise the profits and socialise the debt.
HTF200 is offline   Reply With Quote
Old 05-20-2019, 06:59 PM   #8
"Hello Moto"!
 
T7_4ever's Avatar
 
Join Date: Jan 2011
Location: Canada
Posts: 6,154
Default Re: Air Canada looking to buy Air Transat!

Quote:
Originally Posted by Ron97 View Post
2 atrocious airlines with piss poor customer service. Air Canada and Westjet already fix their prices and there's absolutely no competition or options for Canadian flyers. A ticket from Montreal to Winnipeg costs almost as much as a ticket from Montreal to Paris.
AC/WJ are like the telecom providers we have in Bell and Rogers. I do believe people just bounce back n forth between these 2 telco/internet companies every year; they have a duopoly. Just did a fare check on Air Canada to fly my mother from BC to NB, the cheapest fare = $700 round-trip.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
T7_4ever is offline   Reply With Quote
Old 05-21-2019, 04:30 PM   #9
Complete Wacko!
 
shandaken's Avatar
 
Join Date: May 2003
Location: Pompano Beach
Posts: 3,494
Default Re: Air Canada looking to buy Air Transat!

sad for Canadian consumers. Maybe another JetsGo type of carrier can pop up in the future?
shandaken is offline   Reply With Quote
Old 06-04-2019, 11:18 AM   #10
"Hello Moto"!
 
T7_4ever's Avatar
 
Join Date: Jan 2011
Location: Canada
Posts: 6,154
Default Re: Air Canada looking to buy Air Transat!

Looks like there is another buyer interested in Air Transat. Will see how this pans out with Air Canada?

MONTREAL -- A Quebec real estate developer has made a takeover offer for Transat AT Inc. worth $14 per share in cash, which is above what Air Canada has proposed.

The offer from Group Mach Inc. comes after Transat announced last month it was in exclusive talks to be acquired by Air Canada, which was proposing to pay $13 per share.

Trading in Transat shares has halted ahead of the announcement. The shares closed at $11.84 on the Toronto Stock Exchange on Monday.

Mach says the offer is the culmination of a process that began when it approached Transat in January.

Under its offer, the company committed to keep Transat's head office, executive team and centre of decision-making in Montreal.

Transat offers vacation packages, hotel stays and air travel under the Transat and Air Transat brands.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
T7_4ever is offline   Reply With Quote
Reply

Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 12:03 AM.

Latest Threads
- by HTF200
- by ams026
 

Models of the Week
 



Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.2
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.