Transat has extended the termination date of its $250 million short-term loan facility by three months.
The facility was arranged on 10OCT, 2020 and will now terminate between 30JUN, 2021, and the closing of Air Canada’s proposed acquisition of Transat.
Transat says this extension provides it with additional room to manoeuvre in securing the financing that would be required before expiry of the credit facility.
The decision from the European Commission regarding the acquisition by Air Canada is now expected during the first six months of 2021, it said.
Anna Kroupina Journalist
Anna is OJ’s newest member and she joins the team as a writer/reporter. She co-writes the daily news and covers events. Although she’s new to the industry, pursuing a career path in travel/tourism has been a goal since her first family road trip to the Florida Keys sparked a desire to discover the world and this exhilarating, fast-paced industry.