Air Canada enters into talks to buy Transat

Air Canada is entering into negotiations to buy Transat.

Officials for Transat AT Inc say they have agreed to a 30 day period of 'exclusive negotiations' to discuss Air Canada's intention to buy all shares of Transat for $13 a share.

Via a media release, Jean-Marc Eustache, President and Chief Executive Officer of Transat, says "This is an opportunity to team up with a great company that knows and understands our industry and has had undisputable success in the travel business."

For now, operations continue as normal and travellers and customers can still travel and book through Transat.