Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Air Canada    AC   CA0089118776

AIR CANADA

(AC)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Air Canada : Real estate developer Group Mach makes formal bid for Transat

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/14/2019 | 05:13pm EDT

(Reuters) - Quebec real estate developer Group Mach Inc said on Friday it had formally tabled an offer for Transat AT Inc that was higher than Air Canada's earlier bid for the Canadian travel operator.

Group Mach is hoping to expand in the leisure and hospitality business with the Transat deal, using its own expertise in the ongoing development of Transat's hotel chains.

Earlier this month, Group Mach said it would take Transat private at C$14 per share in cash, C$1 more than Air Canada's all-cash offer that valued the parent company of leisure carrier Air Transat at C$520 million.

In response to Group Mach's formal offer, Air Canada said it is proceeding toward completion of a definitive purchase agreement to acquire Transat and expects the acquisition process to conclude by the end of this month.

"Air Canada's bid, in contrast to a hostile proposal letter released today, is fully financed, does not require taxpayer assistance and is a wholly Quebec-based solution in the best interests of all stakeholders," Canada's largest airline said in an emailed statement.

In May, Air Canada said it was in exclusive talks to buy Transat, as it looks to boost its leisure travel business to ward off growing competition from WestJet Airlines.

Montreal-based Transat is locked in an exclusivity period with Air Canada that ends on June 26.

Transat confirmed https://bit.ly/2IW2OLh it has received Group Mach's formal proposal and said the real estate developer's offer is conditional on obtaining financing for the deal. The developer has previously said the deal is contingent on Quebec providing about C$120 million in acquisition financing.

(Reporting by Debroop Roy in Bengaluru; Editing by Maju Samuel)

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -0.35% 39.36 Delayed Quote.52.16%
TRANSAT AT INC 1.21% 14.19 Delayed Quote.135.63%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AIR CANADA
11:11aAIR CANADA : Congratulates Mark Galardo, Vice President, Network Planning, on be..
AQ
07:20aAIR CANADA : Airlines and regulators meet to discuss Boeing 737 MAX un-grounding..
RE
06/25AIR CANADA : Passenger wakes up alone on plane!
AQ
06/25AIR CANADA : passenger falls asleep on plane, wakes up alone
AQ
06/24Onex's WestJet buyout gets nod from Canada's Transport Minister
RE
06/24AIR CANADA : passenger falls asleep on plane, wakes up alone
AQ
06/24AIR CANADA : Woman fell asleep on a plane - and woke up to find she's alone
AQ
06/24AIR CANADA : Sleeping woman forgotten in plane, wakes up alone in the dark
AQ
06/24AIR CANADA : passenger falls asleep on plane, wakes up alone
AQ
06/24AIR CANADA : Woman wakes up alone on Canadian plane
AQ
More news
Financials (CAD)
Sales 2019 19 625 M
EBIT 2019 1 727 M
Net income 2019 1 140 M
Debt 2019 4 217 M
Yield 2019 -
P/E ratio 2019 8,86
P/E ratio 2020 8,42
EV / Sales 2019 0,75x
EV / Sales 2020 0,64x
Capitalization 10 591 M
Chart AIR CANADA
Duration : Period :
Air Canada Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIR CANADA
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 46,2  CAD
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Calin Rovinescu President, Chief Executive Officer & Director
Vagn Ove Sørensen Chairman
Benjamin M. Smith COO & President-Passenger Airlines
Michael Stewart Rousseau CFO & Deputy Chief Executive Officer
Catherine Dyer Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
AIR CANADA52.16%8 073
DELTA AIR LINES INC.12.06%36 608
UNITED CONTINENTAL HOLDINGS INC1.59%22 382
AIR CHINA LTD.23.04%18 034
RYANAIR HOLDINGS-7.91%12 707
CHINA SOUTHERN AIRLINES COMPANY12.05%11 785