dagger

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  1. It's hard for me to assess Part c) in particular, but I do wonder who would make a better candidate to launch an A220-500 than AC.
  2. With the MAC unlikely to fly before the end of the year, someone operating the aircraft already is going to declare Force Majeure on their remaining order, sue Boeing for $1 billion or more, do a deal with Airbus whereby Airbus eventually remarkets their MAX aircraft.
  3. Boeing just sold up to 200 MAX jets to IAG. I can't imagine the discounts for a sale like this, especially given the need to rehabilitate the aircraft's reputation, but if MD was able to get people to fly on the DC-10 and MD-11, and Boeing got everyone to forget the 787 battery issues, there is zero doubt in my mind that people will flying on the MAX again, and forget it was ever grounded.
  4. That's true, but the board's due diligence would include an assessment of the certainty that a deal can be concluded with the highest bidder. If it believes the Quebec government will not provide Mache with the required financing and that the deal will not proceed without it, then the AC bid remains the only "real and viable" one of the table, notwithstanding the shareholders' wishes.
  5. Air Canada says a deal is getting close - and it won't need any government funding https://www.newswire.ca/news-releases/air-canada-provides-update-on-exclusive-agreement-with-transat-a-t-inc-to-pursue-a-combination-of-the-two-companies-827210016.html Air Canada Provides Update on Exclusive Agreement with Transat A.T. Inc. to Pursue a Combination of the two Companies Due diligence on binding agreement due to be completed by end of June MONTREAL, June 4, 2019 /CNW Telbec/ - Air Canada today said that it is in the process of finalizing its binding agreement to purchase all of the issued and outstanding shares of Transat AT Inc. and its combination with Air Canada to create an industry leading, Quebec-based leader in the global leisure travel industry. Air Canada announced on May 16, 2019 that it had entered into an exclusive agreement with Transat regarding the proposed transaction and that the agreement was subject to Air Canada completing a 30-day due diligence period now expected to be complete towards the end of June. Air Canada's acquisition will result in job creation and economic growth in Quebec, given the travel and tourism opportunities. Moreover, Air Canada has all necessary funding to complete the transaction and therefore it is not subject to financing conditions and does not require government or taxpayer assistance. The transaction, valued at $520 million, remains subject to the finalization of definitive agreements, confirmatory due diligence, regulatory and shareholder approvals and other closing conditions usual in this type of transaction. There is no assurance that the transaction will be completed as described in this news release or at all. Air Canada presence and investment in Montreal and the Province of Quebec. Air Canada is proud to have been named one of Montreal's top employers for each of the last six years. Headquartered in Montreal since 1949, Air Canada maintains one of the largest global head offices in Quebec. Air Canada employs 36,000 employees globally, with close to 10,000 of those in the province of Quebec where it has created over 2,600 new jobs over the last five years. Air Canada's Executive Committee members (President and Chief Executive Officer, Chief Financial Officer, Chief Commercial Officer and Executive Vice-President, Operations) in addition to many other key members of the Executive Management team are all based in the Montreal Headquarters. Air Canada serves 11 airports across Quebec. The international reach of Air Canada's network makes Quebec a gateway to the world and is an important tool for economic development, including tourism. Montréal-Trudeau Airport is a strategic hub for Air Canada connecting its Quebec and Atlantic Canada domestic network, with its U.S. transborder, Caribbean, European, North African, Asian and South American flights. To the U.S. alone, Air Canada connects Montreal-Trudeau to some 24 cities. Since 2012, Air Canada has launched 35 new routes from Montréal-Trudeau to global markets including Shanghai, Beijing, Tokyo, Tel Aviv, Lima, Sao Paulo, and Casablanca. This growth has allowed Montreal to rank amongst the top 50 most internationally connected cities in the world and to become one of the largest North American hubs. Air Canada served more than 10 million passengers in Montreal in 2018.
  6. I note that Groupe Mach also wants $120 million in financing from the Quebec government.
  7. Groupe Mach seems to want the hotel side and has no competence in running an airline. AC not much interested in becoming a real estate developer and hotelier. So is there a deal between the two?
  8. There is a big surprise for Westjet Group if it thinks prices across the Pacific aren't competitive. Its intensely competitive in fact, driven by Asian carriers. Brazil is a marginal market at any price. Australia is a decent bet, providing the bilateral loosens a bit more
  9. Airbus is adding two tonnes to each A220 model, extending their range by about 450 nm. It will take about a year before the first higher gross weight aircraft are built, so most of AC's order will likely be the HGW version. https://airwaysmag.com/manufacturer/a220-gets-capacity-range-increases/ TOULOUSE — Airbus has increased both the maximum take-off weight (MTOW) of the A220 aircraft, as well as its range by an additional 450 nautical miles. This news was announced earlier today at the Airbus Innovation Days event in Toulouse, France. The A220 will see an increase of 2,268 kg (2.3 metric tonnes) in its MTOW, which Airbus says will now enhance the A220-100 and A220-300 aircraft with a new range of 3,400 and 3,350 nautical miles, respectively. (Credits: Bombardier) The new increase in both weight and rage will allow A220 customers to deploy the aircraft across more routes around the globe, giving them the flexibility to increase their route network to further destinations while offering better cost per seat. Airbus Chief Commercial Officer Christan Scherer said today that “this new MTOW will allow operators to reach markets where they today cannot be served by other small single-aisle aircraft types.” While this remains speculation the new MTOW weight of the A220 could encourage British Airways to revive its ultra-premium London City – New York service with the A220-100. The increase in the MTOW has been brought to Airbus with their new innovation and new design models. The introduction of Virtual Reality for aircraft designers and engineers has allowed Airbus as with many other companies around the world to look and assess problems that the aircraft have to make them not only more efficient but increase their capability for their customers. Rob Dewar, Head of Engineering & Customer Support for the A220, noted that since the plane’s entry-into-service close to three years ago, “the A220 aircraft has proven that it is meeting or beating its initial performance target, bringing more flexibility and revenue potential to customers.” “Today, Airbus is reinforcing its confidence in the A220 platform and further enhancing its capabilities to meet upcoming market requirements,” Dewar added. The A220, formerly known as Bombardier CSeries, was a clean sheet aircraft designed by Canadian manufacturer Bombardier, from which Airbus purchased a 51% stake in the program last year. The acquisition of this aircraft program has allowed Airbus to close the market gap they were missing in their fleet range, right in between the Airbus A318 and A319. During a live Q&A with Airbus Chief Commercial Officer, Christian Scherer and associated members of the press, he was asked what the future plans where for Airbus in regards to the ramp up in production of the A320 and A220, and what future that the A319neo would have when the A220-300 is a slightly more efficient version of the aircraft, with similar ranges and passenger capacity. “Airbus will build what the customers want, we will continue with production of the A220 and A319neo and offer both aircraft to our customers around the globe,” Scherer responded. The CCO went on to talk about the A220 and A320 production increase to which he stated that the manufacturer is looking to increase the A320 production to 63 aircraft a month and that for now they were only looking at adding a second production line to the A220 aircraft and are not looking at increasing that in the immediate future.
  10. Talk about worthless CUPE press releases. Anyway, I wouldn't be shocked if another bid for Transat emerges, although I am inclined to think it would be from some ego-driven blowhard Quebec industrialist like PK Peladeau. Westjet is on credit watch now for a possible downgrade, and adding another $600 million in debt for AT would not be especially helpful. If AC reaches a formal deal with AT, I'd be interested to see what the Competition Bureau wants in terms of divestitures. Meanwhile, the A321neos are a nice get for Rouge, which presumably can operate them off the east coast against WS or any foreign operators.
  11. dagger

    Westjet

    Assuming he still has a lot of Westjet stock, the Bean is probably counting his profits today! He's still lurking here.
  12. dagger

    Westjet

    I'm figuring that someone might. Delta is the most logical from a US perspective.
  13. dagger

    Westjet

    I wonder if ONEX would have the stomach to add even more debt to Westjet's balance sheet to fight AC or others on Transat AC stock opening up 4%
  14. dagger

    Westjet

    Westjet did supposedly make an offer for Transat, and AC was invited to counter and supposedly did, and there may be other bids on the table. Obviously the Transat board would like a bidding war. As for the Onex story back from 1999, it would take too much time for me to give you the full story. Suffice it to say that pairing with AMR to take out AC and merge it with Canadian was probably a mistake - it rallied strong forces against it, which produced a highly leverage counter proposal that topped ONEX and eventually resulted in the latter to drop its bid. That triggered such a wild timeline for AC - Milton, merger, bankruptcy, ACE... I wonder how history would have unfolded if CP had simply gone under. Would AC have stumbled along the line somewhere, run afoul of governments and regulators in other ways... Who knows.