AC & Transat Give Formal Notice Of Proposed Transaction To Minister
Bruce Parkinson, Open Jaw
Air Canada and Transat A.T. Inc. have given formal notice to the Honourable Marc Garneau, Minister of Transport, of the proposed transaction whereby Air Canada would acquire Transat A.T. Inc.
The notification is in accordance with the mergers and acquisitions provisions of the Canada Transportation Act. The Minister of Transport has 42 days from the date of notification to determine whether the proposed transaction raises public interest issues related to national transportation.
If the Minister determines that the transaction raises public interest issues related to national transportation, then a public interest assessment of the proposed transaction would be conducted with input from the Commissioner of Competition, who would assess impacts on competition.
The public interest assessment would include targeted consultations, as well as an analysis of the economic benefits or challenges resulting from the proposed transaction.
A statement reads: “The Government of Canada will conduct the appropriate reviews in a rigorous and timely fashion.”
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.