Montreal-based airline Air Transat is planning to start flying again on July 23, after a hiatus of almost four months because of COVID-19. Update on Air Canada takeoverIt also comes as the process of Transat being taken over by Air Canada continues at a glacial pace. Last summer, Transat's shareholders approved a takeover offer that would see the company bought out by Air Canada for $720 million. "While the corporation remains firmly committed to completing the transaction with Air Canada, certain factors beyond its control and related to the COVID-19 pandemic could influence the outcome of the proposed arrangement." In particular, Transat said the current situation could require it to incur new debt, something that technically goes against the rules of the deal it struck with Air Canada.

Source: CBC News June 11, 2020 13:00 UTC