The layoffs would reduce Transat’s workforce by about 40 per cent and likely come after the end of the federal wage subsidy — scheduled to expire Dec. 19 — “if the situation does not improve rapidly,” CEO Jean-Marc Eustache said
"Improve rapidly." Not sure what he has in mind with that, I fear it won't happen soon, seeing how the situation is still fragile or going in the wrong direction in some of TS's European destinations.
Transat shares now hover just above $5, more than 70 per cent below the $18 per share Air Canada pledged in its takeover bid.
European regulators are expected to reach a decision on the deal by Dec. 11. The Trudeau government has not yet announced a thumbs-up or -down, which “may come at any time,” Eustache said.
What impact the current health situation will have on the regulators' decisions?
“Furthermore, should Air Canada remain interested in Transat from a strategic and financial perspective, it is possible that a lower offer may be made.”
That's a good point. Lots of uncertainty for TS' people.
https://globalnews.ca/news/7326534/tran ... ronavirus/