Air Transat Seeks Help From Feds After Failed Takeover As Debt Deadline Looms

Struggling tour operator Air Transat is in talks with the federal government on aid, but may not reach a deal by an APR debt deadline, a source close to the situation said, putting pressure on Quebec to provide a rescue package. Spokesperson Christophe Hennebelle said on Sunday Transat is “confident we will be able to secure the necessary financing in the coming weeks,” reiterating it was at an “advanced stage” of discussions with Ottawa on sector aid. Transat has said it needs at least CAD$500 million in financing this year.

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