Is this the end for Air Transat?

[ELY707]

Due to Canadian government travel restrictions, Air Transat just announced that effective tomorrow, all flights from Toronto and most from Montreal will cease until April 30th. Air Transat says they will continue flights from Montreal to Paris and Punta Cana only. It doesn't look good for them.

[Big Al]

I'm not sure why it would be worse for Air Transat than any other airline not flying due to the pandemic ? Are they in dire financial straits ? What happened to the Air Canada merger ? Or are they waiting for AT to fail now, taking out some competition from their markets ?