Duke Point wrote: ↑Mon Sep 23, 2019 8:35 am
I'm sure there are emergency meetings going on right now at AC and Transat. I'd bet that those 320's (if they're any good) might be purchased outright by Transat with AC capital just to prevent route disruptions. UK creditors cant do much quickly if they stay under the Canadian sphere of influence. I'm sure flights to the British territories down south are being looked at as reposession on British soil is more likely.
Transat fleet problems are now AC's problems to a degree.
Very sorry for the tens of thousands now out of work. This industry can be brutal.
DP.
Interesting angle. Do you think Air Transat would go buying airplanes when AC doesn't own them yet? What would they do with those extra planes if the transaction didn't go through? It's not like AC needs any more 321's. Air Transat certainly doesn't need narrow body assets right now. They're losing money every quarter.
Not so fast. The AC/TZ merger hasn't been approved yet and may never be. So committing $ at this time, for additional aircraft, would be very risky.
Worst case is that Transat then leases from aircraft secured by AC. Big deal.
For those who are still wondering if the merger is a done deal....seriously? If it gets turned down, Calin would not have done his homework properly, and that would be a first.
When I go to canadian tire for maintenance, do I pay in advance? When I buy an item off the shelf, you can be assured it is in my hands when i exchange it for $$$.
Defective part? return it! Poor maintenance, return it to get it done right ! We have laws and contingencies in advanced countries to protect people it is not communism !
Interesting angle. Do you think Air Transat would go buying airplanes when AC doesn't own them yet? What would they do with those extra planes if the transaction didn't go through? It's not like AC needs any more 321's. Air Transat certainly doesn't need narrow body assets right now. They're losing money every quarter.
Not so fast. The AC/TZ merger hasn't been approved yet and may never be. So committing $ at this time, for additional aircraft, would be very risky.
Worst case is that Transat then leases from aircraft secured by AC. Big deal.
For those who are still wondering if the merger is a done deal....seriously? If it gets turned down, Calin would not have done his homework properly, and that would be a first.
DP.
Don't count your chickens before they hatch. "SERIOUSLY" that's the way business is done without the wishful thinking and daydreaming. Banks and investment brokers are bean counters.
When I go to canadian tire for maintenance, do I pay in advance? When I buy an item off the shelf, you can be assured it is in my hands when i exchange it for $$$.
Defective part? return it! Poor maintenance, return it to get it done right ! We have laws and contingencies in advanced countries to protect people it is not communism !
I'm not interested in you Canadian Tire stories. Calling people "selfish scum "that you know nothing about , makes you come across as one of the ANTIFA goons.
Calin just didn't want WestJet to buy Transat. AC couldn't care less about Transat, they are going down the drain in 5 years tops if they are not bought.
The deal may be approved by share holders, but if the government gets their filthy hands on the deal it's screwed.
If they ask ac to drop slots into good markets, AC will simply not do the deal.
Best case scenario, the government comes up with crazy contingies on the deal. AC says we aint doin that with those limitations. Westjet can't buy transat because of precedent and whatever happens to transat happens.
FL-280 wrote: ↑Mon Sep 23, 2019 11:48 am
Calin just didn't want WestJet to buy Transat. AC couldn't care less about Transat, they are going down the drain in 5 years tops if they are not bought.
The deal may be approved by share holders, but if the government gets their filthy hands on the deal it's screwed.
If they ask ac to drop slots into good markets, AC will simply not do the deal.
Best case scenario, the government comes up with crazy contingies on the deal. AC says we aint doin that with those limitations. Westjet can't buy transat because of precedent and whatever happens to transat happens.
I agree that it is a Win-Win for AC no matter what happens.
People who scheme to pocket 10s of millions ( CEOs etc) while the average employee is asked to do more with less qualifies as "selfish scum" to me
A CEO who leaves thousands of passengers stranded AFTER they have paid their fares in trust is scum because their only interest is in their own exit strategy, their shareholders and his/her next plum parachute appointment ( not much different than the average politician , especially a Liberal one )
People who scheme to pocket 10s of millions ( CEOs etc) while the average employee is asked to do more with less qualifies as "selfish scum" to me
A CEO who leaves thousands of passengers stranded AFTER they have paid their fares in trust is scum because their only interest is in their own exit strategy, their shareholders and his/her next plum parachute appointment ( not much different than the average politician , especially a Liberal one )
It sounds like you might of taken economics 101 with Alexandria Ocasio-Cortez. If you want to keep the airplanes flying it takes money , and lots of it. TC didn't have the money and that is why they are bankrupt.
TC didn't have the money and that is why they are bankrupt.
Why do YOU think they didn't have the money? ( Hint: poor decisions by the CEO s ? who make millions more than they aught to! )
The employees and the customers suffer but NEVER will a CEO suffer ( Think: Old boys club! )
Have you checked out Venezuela lately? How do you think they are in the shambles they are in ? Are not the leaders in countries like Venezuela acting like CEO s and are getting filthy rich, padding their buddies wallets and impoverishing a whole nation due to their failed and selfish policies and massive corruption !
Have you considered Canada and what happens to a country when you elect a banana brain kid to be at the helm?
Looks like Condor will be the next to fall. 49% owned by Thomas Cook, requesting an immediate bridge loan from the German government of two hundred million Euros.
Condor files for bankruptcy, even after securing a sizeable bridge loan from the German government. Supposedly this will allow them to continue on operating, as they are profitable, blah blah blah...
The fall out continues, and it would seem that the market bellwether that aviation is holds true - might want to consider the stability of airlines elsewhere as well as how secure ones own job really is.
