Transat expects to close arrangement with Air Canada in 4Q2020

Transat reported (11-Jun-2020) it expects to complete its arrangement with Air Canada in 4Q2020, subject to obtainment of approvals and certain conditions. The deadline for obtaining regulatory approvals is unable to be extended beyond 27-Dec-2020, and Transat has since deferred this date from 27-Jun-2020 to 27-Jul-2020. Transat warned that factors beyond its control and related to the coronavirus pandemic may influence its arrangement with Air Canada, as carriers around the world reduce capacity and request financial assistance. [more - original PR]