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

AIR CANADA

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Air Canada : seeks to address EU concerns on Transat purchase

11/26/2020 | 05:32am EST
FILE PHOTO: An Air Canada Airbus A320 airplane prepares to land at Vancouver's international airport in Richmond,

BRUSSELS (Reuters) - Air Canada has offered concessions related to its proposed acquisition of Canadian tour operator Transat to address EU antitrust concerns, a European Commission filing showed on Thursday.

The Commission, which oversees competition policy in the 27-nation European Union, said the commitments had been submitted on Nov. 25. As a result it, it has extended the deadline for its decision by three weeks to Jan. 29.

The Commission opened an investigation in May on concerns that the deal could push up prices and reduce choice for flights between Europe and Canada.

Air Canada last month cut its offer price for Transat bynearly 75% to about C$188.7 million ($145.13 million) because ofthe COVID-19 impact on travel demand.

($1 = 1.3002 Canadian dollars)

(Reporting by Philip Blenkinsop, editing by Marine Strauss)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -4.06% 22.92 Delayed Quote.0.66%
TRANSAT A.T. INC. 0.00% 5.22 Delayed Quote.0.00%
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Financials
Sales 2020 5 923 M 4 649 M 4 649 M
Net income 2020 -4 039 M -3 170 M -3 170 M
Net Debt 2020 5 908 M 4 638 M 4 638 M
P/E ratio 2020 -1,66x
Yield 2020 -
Capitalization 7 613 M 5 978 M 5 977 M
EV / Sales 2020 2,28x
EV / Sales 2021 1,54x
Nbr of Employees 22 200
Free-Float 76,0%
Chart AIR CANADA
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Air Canada Technical Analysis Chart | AC | CA0089118776 | MarketScreener
Technical analysis trends AIR CANADA
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TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 28,58 CAD
Last Close Price 22,92 CAD
Spread / Highest target 52,7%
Spread / Average Target 24,7%
Spread / Lowest Target -8,38%
EPS Revisions
Managers and Directors
NameTitle
Calin Rovinescu President, Chief Executive Officer & Director
Vagn Ove SÝrensen Chairman
Michael Stewart Rousseau Chief Financial Officer & Deputy CEO
Catherine Dyer Chief Information Officer & Senior Vice President
Michael M. Green Independent Director
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