Air Canada Transat deal clears latest hurdle after winning Quebec court approval
The takeover will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market
MONTREAL – Air Canada says its deal to acquire travel company Transat A.T. Inc. has cleared another hurdle.
The airline says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week.
The deal is still subject to regulatory approvals and other closing conditions.
The takeover will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.
It is expected to face intense scrutiny from the Competition Bureau and other regulatory authorities, including in Europe.
Earlier this week, federal Transport Minister Marc Garneau approved an extended public interest assessment by Transport Canada and the Commissioner of Competition.