Despite an intervention by SkyService suggesting that TUI would have the intent and ability to influence Sunwing Airlines through its equity position and voting stake in the Sunwing Travel Group Inc., the Canadian Transportation Agency ruled in favour of the merger two weeks ago and published its decision yesterday.
In its posted decision, while acknowledging that TUI's size and financial strength would give it the potential to significantly influence STGI, the CTA ruled that since Sunwing Airlines shareholder Colin Hunter will control 75% of voting shares and 51% of equity, it meets the criteria required to remain 'a Canadian company.'
