Air Canada and Air Transat have been in negotiations over the terms of an acquisition deal for nearly two years, which was approved by the Canadian government earlier this year. The deal was awaiting approval by the European Commission (EC), with the deadline of June 30th, 2021.
Shortly before making public statements, the International Association of Machinists Aerospace Workers (IAMAW) was advised that the two companies mutually agreed to terminate negotiations and not move forward with the acquisition. We later learned that Air Canada made concessions to meet EC’s requests, which ultimately were not enough for the deal to be approved. Read Bulletin here…
