The Air Canada and Transat merger played a major role in the bullish sentiment for the post-pandemic recovery play, and the deal would have cemented AC’s position in the leisure travel market, analyst Adam Othman says. Now with the deal off, AC’s growth plans will likely become more organic rather than acquisition-centric. The crisis could also be an opportunity for AC to focus on its own operations after the pandemic ends. His analysis comes as credit rating agency Fitch Ratings downgrades AC to a B+ rating, with an ‘outlook stable’ proviso. Othman says Transat, on the other hand, must secure financing just to survive.
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