Prime Minister Francois Legault confirmed Tuesday that his government will be there to support Air Transat, while the deal between Quebec’s aircraft manufacturer and Air Canada could be aborted at any time.
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“We certainly will not let Air Transat fall,” the Prime Minister stressed at a press conference on Tuesday, while acknowledging that we have “some concern” given the development of events.
Both companies passed the February 15 deadline for Air Canada to acquire Air Transat, so the two companies can now pull back on the deal at any time.
The Legault government discussed “with the stakeholders” on Monday evening.
“We are looking at various scenarios, with or without Air Canada, but Air Transat is a very important company in Quebec, and whether it is Pierre Carl Bellado or other people interested in the file, we are following it closely.” Confirming that the Minister of Economy Pierre Fitzgibbon is in charge of the file.
“We will not leave Transat without support, and will follow developments closely,” the main person added when asked to comment.
Note that Quebecor President and CEO Pierre Carl Bellado has expressed interest on several occasions in acquiring Air Transat.
The bid to buy Air Canada has seen many twists and turns, especially because of the pandemic that has melted the value of aircraft manufacturers. Air Canada made a bid of $ 5 a share last October, which the Air Transat board approved in December, but negotiations are ongoing between the two entities.
