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Rivals under pressure to copy Air Canada financing package

The Globe and Mail
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Andrew Vaughan/The Canadian Press
Air Canada’s decision to give the federal government a stake in the country’s airline in exchange for low-cost loans is putting pressure on rival carriers to cut similar deals, and concede a portion of any postpandemic recovery to Ottawa.
The country’s largest airline announced a $5.9-billion government financing package late Monday that could see Ottawa end up owning a nearly 10-per-cent stake of Montreal-based Air Canada. In announcing the program, which was negotiated over several months, federal Finance Minister Chrystia Freeland said: “It was very important to get a good deal for Canadians.”

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Three possible Transat suitors say they are not interested in acquiring struggling airline

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At least three potential bidders for Transat AT Inc. say they are not currently interested in acquiring the tour operator after Air Canada terminated its deal to purchase the struggling company late last week.
Since the deal fell apart, Montreal-based Transat has been weighing its options, including seeking long-term funding and potential government support. In an email statement on Tuesday, it reiterated that it would also consider other acquirers, including an offer from Québecor chief executive Pierre Karl Péladeau that remains on the table.
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