Get ready for the bailout - Air Transat merger with Air Canada cancelled

[ExtraSlow]

European regulators have stopped the merger of Air Canada and Air Transat. This puts urgent pressure on Air Transat which has a lot of debt maturing this year.
Combined Federal / Provincial bailout incoming......
https://financialpost.com/transporta...crunch-looms-2

[revelations]

Air Transat must have owners that are more in bed with the government than Canada 3000, which saw their airplanes parked in the rain in November 2001 and all through the winter. No one cared.

[ExtraSlow]

I'm not a big fan of airline bailouts, but of all the airlines based in Canada, I think Transat must have the lowest social benefit.

[killramos]

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I'm not a big fan of airline bailouts, but of all the airlines based in Canada, I think Transat must have the lowest social benefit.

Spending $500 dollars to stay in cancun for a week once a year on a sale is as Canadian as it gets.

[ExtraSlow]

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Spending $500 dollars to stay in cancun for a week once a year on a sale is as Canadian as it gets.

actually agree with this. Can't wait to do it again. Just wouldn't use Transat for it. Gross.

[Buster]

why are government so dumb.

What happens if they don't bail them out? Almost zero.

The common shareholders get toasted. The company that leases the planes takes them back, and then re-leases them to someone who starts Air Transat Part Deux. Fat pasty Canadians still get to participate in their proletariat escapism, and life moves on.

[jutes]

The key is to have your head office in Quebec, then a bailout is almost certain. WestJet fucked up by basing in Calgary and if they go under the government won't come with their pocket books open.

[dromz]

Its all about Quebec votes, I can't see the liberals letting any Quebec based company fail.

[mr2mike]

Oui!
Surprised Roch Voisine isn't a top musician still thanks to CRTC/Gov't.

[Maxx Mazda]

Because they are a Quebec based company, the optics look bad if the government allows them to flounder.

Personally, I'm glad the takeover venture was abandoned.

[Misterman]

ExtraSlow gets all our internet points.

https://globalnews.ca/news/7753623/a...-package-feds/

[Maxx Mazda]

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ExtraSlow gets all our internet points.

https://globalnews.ca/news/7753623/a...-package-feds/

That's an aid package for Air Canada. His original post was about Transat getting saved by the government...

[jutes]

Jesus Christ, let this burn into your head. I’m going to roll out of bed and go on national TV.

Attachment 98594


I’m glad executive compensation was capped at only $1million a year. Those CEOs need to keep their private jets flying.

[ExtraSlow]

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That's an aid package for Air Canada. His original post was about Transat getting saved by the government...

Yeah, my prediction was not about this. Although this doesn't surprise me either. Apparently WestJet will get something, so Transat will probably get a donation as well.

Some people are saying this was okay "value". I can't do the math on that, but my gut feel is that it is not.

[killramos]

TIL $1mm a year is private jet money.

[ExtraSlow]

I'm not sure where "private jet money" starts. North of what I make anyway.

[flipstah]

Chartered jet or owning one?

[killramos]

Definitely not owning one.

[ExtraSlow]

I think a private jet would be nice for vacations with the family or two families. Get 8 people on a small jet to Cancun no likes on either end, private minibus to hotel. That's a pretty small dream.

Private jet to OKC for work was a revelation. That trip flying commercial is gross, and I've done it several times.

[mr2mike]

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Jesus Christ, let this burn into your head. I’m going to roll out of bed and go on national TV.

Attachment 98594

Just let me be clear. Covid is an opportunity (to show up unkempt).

In before @jutes says that's the only pearl necklace she's gotten.
And he's probably not wrong.