rudder

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Everything posted by rudder

  1. I have no doubt the non-core asset sale will begin immediately after closing. AC is not in the hotel business.
  2. p.s. if anybody was curious how serious CR was about acquiring TRZ and how much that acquisition has been integrated in to the AC strategic plan - you now have the answer.
  3. To be honest, the TRZ BOD look pretty foolish for recommending acceptance of an offer at $13. $18 looks closer to a realistic takeover bid factoring in subscription incentive and asset value.
  4. https://ca.finance.yahoo.com/news/air-canada-ceo-sells-block-020500109.html
  5. I believe that there was an aeromedical risk assessment conducted either out of the UK or by EASA that assigned too high a probability of on duty health related issues for post age 65 pilots. Don’t have the link though. Not sure where ICAO is on this.
  6. Given the multi job description of the bargaining unit, and the desire to sever just one specific trade, the more comparable comparison for legal and procedural purposes is the Air Georgian Pilots extricating themselves from a multi-employee bargaining unit to Pilot only bargaining unit with ALPA. Not sure where to direct you for more details.
  7. According to the announcement and the related news stories today, the CRJ Program is terminated. Back orders will be built in to 2020 but after that CRJ production will be halted. Manufacturing facilities overseas to be sold. The sale of the business by BBD represents the end of the CRJ Program other than customer support. Meanwhile, Mitsubishi is working on its own 76 seat variant to meet US scope provisions. https://leehamnews.com/2019/06/13/how-mitsubishi-aircraft-morphed-the-mrj70-into-the-m100-spacejet/
  8. I am curious what the end game plan is here for Mitsubishi? I suspect they now have the right to dismantle the CRJ program and thereby narrow the regional jet options for prospective customers thereby potentially increasing the demand for their own RJ product.
  9. Except that the final decision is up to the TRZ shareholders. If the outcome is inevitable (sale of shares) then the only metric that matters to the shareholders is who will pay the most for a share. There are no future considerations for a TRZ shareholder.
  10. https://business.financialpost.com/transportation/airlines/update-1-mitsubishi-heavy-in-talks-to-buy-bombardiers-crj-program
  11. AC not a big player in packaged vacations. Not sure that consolidation with the transat tour business results in excess market share. Only issue might be transatlantic route authorities. They could be offered to WJ but it does not have the resources...... I don’t see where the competition bureau can go with this. Most international route competition comes from foreign carriers. And that is the purview of the CTA.
  12. TRZ. Transat AT INC. The whole enterprise.
  13. Agreed. However, notice the flowery language in the TRZ press release. Pretty obvious who they want to dance with. Certainly has to do with province of HQ. If either WJ or ONEX make a richer offer then there may in fact be a sanctioned auction.
  14. There was an auction for Virgin America that was triggered by an unsolicited offer from JetBlue but won by a higher financial offer from Alaska Airlines. The resulting merger has not been a glowing success for a myriad of reasons. Sometimes choosing the right partner is more important than accepting the highest offer.
  15. As I predicted. For the price paid it is great value to AC. There will be some non-core asset sales but operationally it should remain largely intact (albeit with a new paint job). AC will be making a giant leap in the packaged tour business well beyond the current market presence. Significant addition of capacity on the North Atlantic. Consolidation of work force should be the labour objective. Hope that the unions handle it respectfully.
  16. rudder

    Westjet

    Acquiring TRZ would give AC unprecedented capacity over the Atlantic. AC could use the consolidated 330 fleet for the sub 10 hour routes and reallocate the Boeing’s to the longer Atlantic routes and Asia/South Pacific. Devil is always in the details but I don’t see how this doesn’t work for AC.
  17. rudder

    Westjet

    AC may become more aggressive in its TRZ offer in response. Close doors on WJ expansion on the Atlantic from the east. AC is sitting in a ton of cash.
  18. rudder

    Westjet

    Likely that any employee incentive programs that are not codified in collective agreements are likely to be terminated. WJ was changing anyway. The culture is no longer a selling point for staff. As bad as it was at the bargaining table, the focus on the bottom line is going to be even more focused. ONEX does not disclose the financing for the cash portion of the deal. There will be incremental debt service costs going forward.
  19. What is has to do with is what the insurance company assesses as the value. Remove the engines and avionics and what do you think the hull is worth? With the pressure vessel ruptured the repair bill will be significant.
  20. Based on Peel police comments the thread title should read “Fuel Truck Collides with Jazz Aircraft”
  21. Just watch what happens. AC has not yet identified its claim for financial damages against Boeing.
  22. AC is assigning B737 pilots that do not require a full course back to their previously qualified aircraft. CR also stated that MAX will not go back in to service until AC is satisfied that it is safe. Perhaps just another step towards abandoning the MAX at AC.
  23. It would appear that TRZ received an unsolicited offer. The TRZ BOD has a fiduciary obligation to maximize shareholder value. The TRZ BOD could simply recommend to the shareholders that the offer be rejected. There may even be a poison pill in the event that an unsolicited or unsupported offer that would have the effect of expanding the share volume. My guess is that the unsolicited offer was not that bad so now the TRZ BOD wants to stimulate an auction to see if it can solicit a better offer from this party or a better offer from another party. Bottom line - it appears that TRZ is about to be sold.