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.
