Air Transat will not be acquired from competitor Air Canada. The two companies announced that the transaction will not be consummated. The reason for this are the almost insurmountable concerns of the EU Commission. Far-reaching concessions had been offered, but these did not go far enough for Brussels.

The takeover would have been a bargain for Air Canada, but Air Transat is now coming under a lot of pressure. A few weeks ago, the carrier pointed out in a message that the funds were almost exhausted. The need for fresh money was quantified with around 500 million Canadian dollars. Otherwise the airline is threatened with bankruptcy.

The Transat Group is now looking into continuing the airline subsidiary independently, but also wants to scrutinize other potential buyers. A Canadian investor recently showed interest, but whether a contract can be concluded remains to be seen. The EU Commission is of the opinion that a merger between Air Canada and Air Transat would have resulted in strong market dominance between Europe and Canada.