Air Canada Takeover of Air Transat
The historic toll which the pandemic has taken on the economy, and particularly the travel industry, does not come as a surprise to most.
Unfortunately, the burden was too much for Air Transat, and it could ultimately not weather the storm. Consequently, the airline was left no choice but to shut down operations.
Air Canada stepped in to take over, with the deal later approved by the Canadian government, subject to certain terms and conditions.