Air Canada increases price for Air Transat to CDN 720m

Air Canada has announced it has raised the purchase price for Air Transat´s parent company to CDN 18 per share, a 40% increase over the previous price of CDN 13 per share, the company said.

The decision increases the value of the The all-cash transaction increases the value of the company to CDN 720 million (USD 544 million).

Air Canada´s significant modification of the price is intended to secure the “necessary level of support” from shareholders, says the carrier.