Air Canada says it is planning to purchase Air Transat.
It says the proposed transaction, is valued at approximately $520 million and will create a Montreal-based global travel services company in leisure, tourism and travel distribution operating across Canada and internationally.
Air Canada says it has all the necessary funding required to complete the transaction which is not subject to financing conditions.
According to Wikipedia, Air Transat is a Canadian leisure airline based in Montreal, Quebec, operating scheduled and charter flights, serving 60 destinations in 25 countries.
