Ottawa: On July 17, Air Canada and Transat A.T. Inc. notified Marc Garneau, Minister of Transport, of a proposed transaction whereby Air Canada would acquire Transat A.T. Inc. in accordance with the mergers and acquisitions provisions of the Canada Transportation Act.
The Minister of Transport has 42 days from the date of notification to determine whether the proposed transaction raises public interest issues related to national transportation. If the Minister determines that the transaction raises public interest issues related to national transportation, then a public interest assessment of the proposed transaction would be conducted with input from the Commissioner of Competition, who would assess impacts on competition.
The public interest assessment would include targeted consultations, as well as an analysis of the economic benefits or challenges resulting from the proposed transaction.
A statement said Government of Canada will conduct the appropriate reviews in a rigorous and timely fashion.