Denis Petrin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Transat rises as Canada grants $700M in crisis loans Sandrine Rastello, Bloomberg News VIDEO SIGN OUT Transat AT Inc., the Montreal-based vacation operator that Air Canada gave up trying to buy earlier this month, obtained $700 million in emergency aid from the Canadian government to stay afloat during the pandemic. The company took loan facilities of $390 million for operations and another $310 million to finance customer refunds for flights canceled during the pandemic. Transat will also issue 13 million warrants to the government to buy shares at $4.50 each. Transat shares jumped o...

Transat Rises as Canada Grants $570 Million in Crisis Loans Bloomberg 4/29/2021 Sandrine Rastello (Bloomberg) -- Transat AT Inc., the Montreal-based vacation operator that Air Canada gave up trying to buy earlier this month, obtained C$700 million ($570 million) in emergency aid from the Canadian government to stay afloat during the pandemic. The company took loan facilities of C$390 million for operations and another C$310 million to finance customer refunds for flights canceled during the pandemic. Transat will also issue 13 million warrants to the government to buy shares...

Transat rises as Canada grants $700M in crisis loans Sandrine Rastello, Bloomberg News VIDEO SIGN OUT Transat AT Inc., the Montreal-based vacation operator that Air Canada gave up trying to buy earlier this month, obtained $700 million in emergency aid from the Canadian government to stay afloat during the pandemic. The company took loan facilities of $390 million for operations and another $310 million to finance customer refunds for flights canceled during the pandemic. Transat will also issue 13 million warrants to the government to buy shares at $4.50 each. Transat shares jumped o...

On Friday,  Air Canada (TSX:AC) stock surged 5%, not because of its earnings, but because Transport Canada approved its takeover of  Transat A.T (TSX:TRZ). Transat stock surged 13%. AC is downsizing, canceling flights, suspending routes, and retiring aircraft. Capacity has become a curse more than a gift for AC in the COVID-19 economy. So, why are investors happy with this acquisition? What does the Air Canada–Transat deal mean to investors?  The airline industry has undergone significant consolidation over the years, as its high fixed costs makes it vulnerable during a crisis. Most of ...