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Air Canada deve comprar a Air Transat

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Charter é um mercado a ser extinto: Monarch, Thomas Cook e Air Transat, não justifica mais existir este nicho.

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Charter é um mercado a ser extinto: Monarch, Thomas Cook e Air Transat, não justifica mais existir este nicho.

 

Air Transat não é charter a muito tempo.. Aérea regular, com foco em lazer..

 

 

Por experiências e notícias que já ouvi, Air Transat é só problema

 

Em que sentido? Ja voei várias vezes sem nenhum problema... Inclusive ela ganhou melhor empresa aérea de lazer do mundo pela Skytrax algumas vezes já..

Edited by lucasco
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E será uma pena se a venda realmente se concretizar, ainda menos concorrentes num mercado ja bastante dominado pela Air Canada.

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Air Transat não é charter a muito tempo.. Aérea regular, com foco em lazer..

 

 

 

 

Em que sentido? Ja voei várias vezes sem nenhum problema... Inclusive ela ganhou melhor empresa aérea de lazer do mundo pela Skytrax algumas vezes já..

Me surpreendeu bastante a reportagem falando que eles têm 20% do market share entre Canada e europa

Achava que eles eram bem menores,fui até procurar saber quantos aviões tinham

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Me surpreendeu bastante a reportagem falando que eles têm 20% do market share entre Canada e europa

Achava que eles eram bem menores,fui até procurar saber quantos aviões tinham

 

Inclusive acabam de receber o primeiro A321LR neo, que é o primeiro avião zero de fábrica a ser operado pela Air Transat.

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Ainda preciso voar nos A310 que eles possuem! Air Transat liga Montréal a praticamente todas as grandes cidades francesas. Na alta, possuem uma grande malha na Europa, EUA e Caribe.

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Em que sentido? Ja voei várias vezes sem nenhum problema... Inclusive ela ganhou melhor empresa aérea de lazer do mundo pela Skytrax algumas vezes já..

Por exemplo https://www.cbc.ca/news/business/air-transat-aircanada-canjet-sunwing-westjet-mexico-sunwing-airlines-travel-1.4143047

 

Ou https://www.bnnbloomberg.ca/stranded-air-transat-passengers-recount-horrendous-experience-ahead-of-hearing-1.839015 (que ok, pode acontecer com outras)

 

Ou vários vôos fazendo parada técnica em Buffalo (destino YYZ) para reabastecimento

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Será que vão aproveitar a estrutura da Air Transat para separar a Air Canada Rouge da empresa mãe?

Edited by Mayday

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Air Transat não é charter a muito tempo.. Aérea regular, com foco em lazer..

Estou tão por fora do mercado canadense que ainda imaginava a Air Transat como charter + regular, podemos dizer que ela é uma leisure airline.

 

E será uma pena se a venda realmente se concretizar, ainda menos concorrentes num mercado ja bastante dominado pela Air Canada.

Mercado canadense está agitado, a ONEX comprou a Westjet por U$$ 5 bi. Para quem não sabe, a ONEX há 20 anos atrás deu partida para fusão Canadian + Air Canada ao propor comprar a primeira junto com a AA. Sem falar que o mercado aéreo canadense é rico e vem crescendo.

 

Será que vão aproveitar a estrutura da Air Transat para separar a Air Canada Rouge da empresa mãe?

Interessante que a Air Canada está comprando a Transat, que pode ser a dica que a AC está investindo no mercado de turismo, aproveitando a sinergia que a Transat tem entre a Air Transat, suas agências, redes de distribuição e até hotelaria.

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E surgiu um novo pretendente para a Air Transat:

 

07-Jun-2019 1:00 AM
Mach’s surprise bid for Air Transat, topping Air Canada

https://centreforaviation.com/analysis/reports/machs-surprise-bid-for-air-transat-topping-air-canada-476834

 

Canadian aviation has been a hotbed of activity during the past few weeks; the country’s two largest airlines have announced major transactions they believe will better position themselves for the future.
Onex plans to purchase WestJet for CAD5 billion and take the airline private, and Air Canada is moving closer to wrapping up due diligence for its proposed CAD520 million acquisition of Transat.
But a Quebec real estate developer, Mach, has now entered the bidding for Transat with a higher price than Air Canada’s initial offer. Mach’s decision to pursue Transat occurs as speculation grows about whether regulators would approve Air Canada’s purchase of Transat, given the concentration the two airlines would create in some international markets from Canada.
As the period of exclusivity for negotiations between Air Canada and Transat nears its end, Air Canada needs to decide if upping its offer for Transat is key for execution of its long term plan to maintain its competitive position in Canada’s aviation market.
Canada's aviation landscape has undergone rapid changes in a matter of weeks
After Onex and WestJet outlined their plans for Onex’s purchase of Canada’s second largest airline for CAD5 billion (including the assumption of debt), Air Canada immediately stated that it had entered into exclusive negotiations for the travel conglomerate Transat.
At the time that Air Canada stated its desire to purchase Transat, the company remarked that the acquisition presented a unique opportunity to compete with the very best in the world companies with respect to leisure travel.
Through the launch in 2013 of its lower cost unit, Rouge, Air Canada has been working to ensure that it competes effectively in all passenger segments.
Rouge competes with both Air Transat and WestJet, which has been building up trans Atlantic service during the last few years, and now has three Boeing 787 widebodies deployed on routes to Europe that feature a dedicated business class.
WestJet mainline fleet summary, as of early Jun-2019
wjetmainlinefleet.png
Source: CAPA Fleet Database.
It is no stretch to conclude that Air Canada was motivated to pursue Transat in part to fortify its leading position in the Canadian trans Atlantic market.
According to data from CAPA and OAG as of early Jun-2019, Air Canada has a 40% weekly seat share between Canada and Western Europe, while Air Transat’s is approximately 18%. WestJet’s share is approximately 6%, but its seat growth has jumped 20% year-on-year, driven by the introduction of the 787.
Based on those figures, Air Canada and Air Transat’s seat share is approximately 58% on trans Atlantic routes. Air Transat only operates a handful of domestic routes, instead focusing on transporting leisure passengers to Europe and Latin America on a seasonal basis.
There have been varying opinions over whether that concentration would raise the eyebrows of Canadian regulators who need to endorse Air Canada’s acquisition of Transat. Some pundits argue that a competitor in the Canadian trans Atlantic leisure market would be eliminated, while others believe that expansion by other airlines, particularly WestJet, could alleviate concerns about market concentration.
The new bidder Mach seems most interested in the hotel room expansion
Now, the Quebec-based property developer Mach has tabled its desire to acquire Transat for CAD14 per share (CAD527.6 million) – versus Air Canada’s bid of CAD13 per share. Mach is seeking CAD120 million from the government of Quebec to support the transaction, whereas Air Canada declares that it has all the funding to support its proposed acquisition of Transat.
Mach executives told The Canadian Press that Air Transat, for now, is an integral part of Transat’s business. But obviously Mach is more attracted to Transat’s CAD750 million plans to add 5,000 hotel rooms by 2022 in Mexico and the Caribbean.
Mach has declared that it would increase that total to 12,000 rooms in six years, and has secured a pledge from TM Grupo Inmobiliario to invest CAD15 million in Transat for a minority stake in the company. TM was a residential real estate developer in Spain and is also the preferred hotel supplier for Transat in Mexico.
Obviously Air Canada is likely more interested in Transat’s aviation assets, but after Mach outlined its offer for Transat, Air Canada stated that it was close to finalising a binding agreement with Transat to “create an industry leading, Quebec-based leader in the global leisure travel industry”.
Essentially Air Transat’s two potential bidders have differing interests in acquiring the company, but for now they are stressing that they have no plans currently to offload any of Transat’s businesses.
At the moment, Air Canada and Air Transat remain in an exclusive negotiating period, and Air Canada does have the necessary level of balance sheet strength to up its offer for Transat.
But it remains to be seen what will ultimately occur, since another Transat bidder has emerged: the Canadian Press has reported that Transat’s largest shareholder Letko Brosseau, holding an 18% share, opposes Air Canada’s bid.
Mach has potentially created a horse race for control of Transat
Mach’s decision to vie for control of Transat is an interesting development as both WestJet and Air Canada have recently shaken up the industry through WestJet’s plans to go private and Air Canada’s pursuit of Transat.
Mach’s proposal could curry more favour with regulators, but Air Canada does not need help from the government of Quebec to complete its proposed transaction to acquire Transat.
But those factors could ultimately have no bearing on Transat’s fate; and there will be no definitive answers until Transat and Air Canada wrap up their exclusivity period.

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Otimo para a competiçao que seja um outro player.

Vamos ver como o Canada fica com 3 players

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Transat agrees to Air Canada's $13-a-share takeover offer, despite other bids

Transat management gives blessing to takeover, despite higher offers on the table
Pete Evans · CBC News · Posted: Jun 27, 2019 8:30 AM ET | Last Updated: 19 minutes ago
transat-air-canada-pearson.JPG
Air Canada will take over Air Transat in a deal valued at $520 million, or $13 per share. The two companies plan to continue to operate as separate brands. (Evan Mitsui/CBC)

The company that owns Air Transat has agreed to be taken over by Air Canada for $13 a share.

The two companies announced in May they had entered negotiations toward a possible deal, and gave themselves 30 days to hammer out the details.

That period expired on Wednesday, and on Thursday morning they announced a deal that would see Air Canada buy Transat A.T. Inc. for $13 per share, which values the company at $520 million.

The plan is to maintain the two companies as separate entities, maintaining the two different brands, head offices and key functions in Montreal, the companies said in a release.

"This combination delivers excellent value, while also providing increased job security for both companies' employees through greater growth prospects," Air Canada CEO Calin Rovinescu said.

Transat CEO Jean-Marc Eustache said the deal represents "the ideal platform for Transat's presence and jobs in Montreal, and therefore represents the best option for all our stakeholders: employees, suppliers, partners and shareholders."

air-canada-20180216.jpg
Air Canada CEO Calin Rovinescu says the deal is a good one for both sides. (Graham Hughes/Canadian Press)

That's a veiled reference to another, ostensibly better financial offer on the table for the company. Once word of Air Canada's interest emerged in May, Montreal real estate developer Group Mach declaredit would also be interested in buying Transat, for a higher price of $14 a share.

Other bidders, including Montreal-based investment firm FNC Capital, have also expressed an interest in buying Transat, with FNC saying as recently as this week it thinks Transat is worth at least between $17 and $20 a share.

"I have informed my group that according to my presentiment, this potentially historical transaction shall not be done under 18 dollars a share," FNC founder and president Dominik Pigeon said this week. "This will most likely be a hard and long contest, far more [fraught] than what people currently expect."

Shareholders, regulatory agencies still hurdles

Mach reiterated their interest and desire in entering negotiations as recently as this week, but Thursday's news suggests Air Transat's management has no interest in pursuing that option.

While the merger of the two Montreal-based airlines has the blessing of both companies' management teams, it is far from a done deal.

Shareholders will have to weigh in and regulatory agencies will have a say, as the move would consolidate Canada's airline industry in even fewer hands.

Canada's Competition Bureau confirmed to CBC News on Thursday it's aware of the share agreement and plans to review it.

francois-legault.JPG
Quebec Premier Francois Legault helped co-found Air Transat in 1986 and led the company for more than a decade, before getting into politics. (Sylvain Roy Roussel/CBC)

"While I cannot speak to the specifics of a bureau merger review for reasons of confidentiality, under the Competition Act mergers of all sizes and in all sectors of the economy are subject to review by the commissioner of Competition to determine whether they will likely result in a substantial lessening or prevention of competition in Canada," spokesperson Jayme Albert said.

Quebec Premier François Legault co-founded Air Transat in 1986, long before he entered politics, and on Thursday he gave a lukewarm endorsement of the takeover by Air Canada.

"I think it's the less worse scenario," he said of the merger. "I think that the airline business is quite controlled with not many players in Canada, you have Sunwing, WestJet, Air Canada and Transat. So, I think it was one of the three that would buy Transat and I prefer Air Canada because the headquarters are in Montreal."

As it stands, Air Canada and Transat control more than 60 per cent of the flight business between Canada and Europe, and just over 40 per cent of the flights between Canada and sun destinations in the, U.S., Caribbean and Central America.

If the deal falls apart, Air Canada would pay a break fee of $40 million to Transat, or Transat would pay $15 million to Air Canada, depending on why the deal fell apart.

Analyst Chris Murray of AltaCorp Capital said he believes the deal is a good one for both sides, and likely to succeed in the end.

"We view the transaction as positive for all stakeholders, seeing several complementary synergies available to Air Canada that we expect to enhance earnings in the coming years," Murray said.

The initial response from investors, however, was less enthusiastic. When stock markets closed on Wednesday, Transat shares were valued at $14.19 apiece — above the level of both the Mach offer and the lower Air Canada offer.

When word emerged of the deal and shares began trading on Thursday, Transat shares lost seven per cent and were changing hands at $13.15 a share.

Air Canada shares, meanwhile, gained almost five per cent or $1.80 to $41.06, a sign Air Canada investors love the deal, from their perspective.

One significant factor in favour of the deal is the biggest single owner of both companies' shares is Montreal investment firm Letko Brosseau & Associates, which owns almost 10 per cent of Air Canada and just over 17 per cent of Transat shares.

When asked, Letko Brosseau declined to comment for this story.

Another investor, Vancouver-based investment firm PenderFund Capital Management Ltd., which owns about four per cent of Transat, isn't impressed with what Air Canada is offering.

"As shareholders, we believe Air Transat holds more value than is currently being offered by Air Canada, and as such welcome other interested parties coming forward with competing bids," senior investment analyst Amar Pandya told the CBC.

Analyst Tim James at TD Securities said he suspects Air Canada will have to make numerous concessions to regulatory authorities and unions for the deal to go through — and may indeed have to sweeten the pot for investors a little,too.

"If shareholders end up rejecting Air Canada's current offer, we believe that there may be opportunities for Air Canada to generate value that could support a higher offer price, assuming any required concessions are not overly onerous," he said in a note on Thursday.

The move comes against the backdrop of more upheaval in the industry. Air Canada's rival, WestJet, has agreed to be purchased by buyout firm Onex Corp. for $5 billion.

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Será que a Air Transat será a cia entrante em novos mercados?

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Será que a Air Transat será a cia entrante em novos mercados?

Difícil dizer, mas a AC comprou uma empresa que poderia se tornar sua rival no long-haul.

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Difícil dizer, mas a AC comprou uma empresa que poderia se tornar sua rival no long-haul.

 

Por isso mesmo a curiosidade! A impressão que passa que foi um movimento defensivo em relação aos últimos acontecidos no mercado canadense. E a dúvida, que será sanada mais para frente, é qual marca ficará: Rouge ou Air Transat. Pela reportagem postada por você acima, a segunda sai na frente.

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