Air Canada

Air Canada Takeover of Transat in Jeopardy

Air Canada Takeover of Transat in Jeopardy

While Canadian regulators have given Air Canada the green light to acquire smaller rival Air Transat, the deal has been jeopardized by the failure of European regulators to approve the deal.
Air Transat said Tuesday that the European Commission has requested additional information from itself and Air Canada.  The Commission said that it will render decision at some point in the first half of 2021.
The lack of action means that either …

Canada Institutes New Quarantine Rules for International Arrivals, Suspends Flights to Mexico, the Caribbean

Canada Institutes New Quarantine Rules for International Arrivals, Suspends Flights to Mexico, the Caribbean

The Canadian government announced significant new restrictions on international travel as it tries to stem the spread of new variants of the coronavirus.
The new measures were announced by Prime Minister Justin Trudeau, who said at a news conference in Ottawa that the country’s largest airlines have agreed to suspend flights to and from the Caribbean and Mexico for three months.
The action comes as concerns grow over new strains of the …

Air Canada Sets Date to Restart Boeing 737 Max Flights

Air Canada Sets Date to Restart Boeing 737 Max Flights

Air Canada, which recently announced an additional 25% capacity cutback for January, will return the beleaguered Boeing 737 Max aircraft to the skies starting February 1.
The move will make the Canadian carrier the third North American airline to do so.  American Airlines, the world’s largest airline, restarted its 737 Max flights at the end of December, while WestJet has announced January 21 restart date.
The airline’s vice president of flight operations …

Air Canada and Chase Launch New Credit Card for U.S. Market

Air Canada and Chase Launch New Credit Card for U.S. Market

Air Canada and Chase the launch of a credit card for members of the airline’s Aeroplan frequent-flyer program located in the United States.
The U.S. card will launch later this year and the Aeroplan program will become a transfer in the Chase Ultimate Rewards program at the same time.
The announcement follows the launch of a completely overhauled Aeroplan program that offers its members award flights with 35 airlines.
Air Canada hopes to …

Air Canada Revenue Plunges 86% in Third Quarter

Air Canada Revenue Plunges 86% in Third Quarter

Air Canada announced financial results for third quarter of 2020.
The Montreal-based carrier said that revenue in the period had plunged 86% to 757 million Canadian dollars ($584 million), a drop of $4.77 billion.
“Today’s results reflect Covid-19’s unprecedented impact on our industry globally and on Air Canada in what has historically been our most productive and profitable quarter,” said the airline’s CEO, Calin Rovinescu.
The airline reported an operating loss of $785 …

Air Canada CEO Rovinescu to Retire in 2021

Air Canada CEO Rovinescu to Retire in 2021

Air Canada announced that its longtime CEO, Calin Rovinescu, will retire early next year.
The Canadian carrier also announced the appointment of Michael Rosseau, who currently serves as deputy CEO and chief financial officer, to the position of CEO upon Mr. Rovinescu’s retirement.
Mr. Rovinescu, a native of Bucharest, joined Air Canada in 2000 as executive vice president for corporate development and strategy after serving aslead external counsel for the airline’s privatization …

Air Canada to Acquire Transat AT at a Reduced Cost

Air Canada to Acquire Transat AT at a Reduced Cost

Air Canada’s deal to acquire Transat AT, which still requires regulatory approval, could proceed as soon as early 2021, albeit at a sharply discounted price.
The Montreal-based carrier said it would slash the offer for Transat to five Canadian dollars ($3.81) from the original 18 offered when the deal was first announced 14 months ago.
“Covid-19 has had a devastating effect on the global airline industry, with a material impact on the …