rudder

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rudder last won the day on February 3

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  1. https://www.transat.com/en-CA/corporate/media/news-releases/124361 Transat Provides Status Update on Arrangement with Air Canada MONTREAL, Feb. 16, 2021 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation") wishes to communicate a status update regarding its contemplated arrangement with Air Canada (the "Arrangement") under the revised arrangement agreement between Transat and Air Canada dated October 9, 2020 (the "Arrangement Agreement"). As announced on February 11, 2021, although the Canadian government has approved the Arrangement, the Arrangement mus
  2. Cannot figure out a way to post the term sheet but some of the terms are fairly onerous. Most to do with release of slots if requested and competitor access to aeroplan and Maple Leaf lounges. Also mandatory maintenance contracts in QC. I assume AC had some input?
  3. https://www.newswire.ca/news-releases/transat-announces-approval-of-its-arrangement-with-air-canada-by-canadian-authorities-839468097.html
  4. Here it is: https://www.canada.ca/en/transport-canada/news/2021/02/government-of-canada-approves-proposed-purchase-of-transat-at-inc-by-air-canada.html/url.html
  5. AC Q4/YE2020 analyst call Friday morning. I am certain there will be some updates provided.
  6. https://www.cbc.ca/amp/1.5906896 Canada's biggest airline has informed 1,500 of its workers that they'll soon be out of jobs as a result of new travel restrictions and a dramatic reduction in demand for flying. The airline will "temporarily reduce its unionized workforce by 1,500 people and by an as-yet-undetermined number of management positions," Air Canada told CBC News. The move comes on the heels of a decision last week to temporarily shut down all Rouge flights, which resulted in the loss of 80 jobs. "This is a due to the federal government's introduction of a mand
  7. ONEX has already taken a full write down on their investment in WJ. For a massive multinational corporation, it just balances the loss against other gains in order to avoid taxes.
  8. “LEEFF loans start with an interest rate of five per cent, rising to eight per cent the following year. They would also allow the government to take a stake in public companies, and would require restrictions on executive compensation, among other things.” https://www.cdev.gc.ca/leeff-factsheet/
  9. There is a difference between support for safe return to work and freedom to move. One promotes commerce and the other relates to individual mobility beyond accessing basic necessities. Current Federal and Provincial policy is essential travel only. I do not expect that policy to change prior to the fall, and likely protracted restrictions on international travel. Perhaps there will be some buy in for this initiative from YOW. But I am not holding my breath. I am only personally concerned with how this affects the airlines.
  10. AC is paddling upstream against a health administration (Dr Tam) that wants zero international travel. If you think that a corporate press release is going to change national health policy, prepare to be disappointed. This government does not see the urgency that some employers see. One side is focused on health policy, and the other is focused on corporate health. This far, there has not been any sign of a meeting of the minds on this (or any other) issue.
  11. The AC/TRZ merger when fully consummated will likely take 10-15% of the 2019 consolidated capacity for those two carriers out of the market.
  12. https://www.routesonline.com/news/29/breaking-news/295060/air-canada-to-deploy-boeing-737-max-on-five-routes-from-toronto/?highlight=Air canada
  13. This government is starting to look like the one that it replaced. The only opinion that mattered was that of the PM. These Ministers are nothing but parrots sent out to read the script written from the cottage at Rideau Hall.
  14. AC should have dropped every direct flight to YOW in the first wave of capacity reductions. Connections over YYZ and YUL only.