Air Canada’s takeover of Air Transat parent Transat has been approved by the Canadian government.
Transat confirmed on Friday (12 February) the deal had been signed off by Transport Canada.
The terms date to a revised arrangement between Transat and Air Canada agreed last October, which will see flag carrier Air Canada take over its budget rival for C$5 per share as opposed to the C$18 per share rate agreed in 2019.
Final confirmation is yet subject to approval by competition authorities and the European Commission. A decision is expected during the first half of 2021.