Air Canada Works To Ease EU Concerns On Transat Deal

Air Canada has offered concessions related to its proposed acquisition of Canadian tour operator Transat to address EU antitrust concerns, reported Reuters.

The Commission, which oversees competition policy in the 27-nation European Union, stated the commitments had been submitted on November 25. As a result, it has extended the deadline for its decision by three weeks to January 29.

The Commission opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada.

Air Canada last month cut its offer price for Transat by nearly 75% to about CA$188.7 million (US$145.13 million) because of the COVID-19 impact on travel demand.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.