Air Canada has decided to move ahead with the acquisition of Air Transat. The deal, however, was amended significantly due to the Corona-pandemic. Air Canada will now pay 190 million Canadian dollars for the airline instead of the previously agreed 720 million Canadian dollars.

The new deal will now be submitted to Air Transat's shareholders for approval. Air Transat's board has already said to their shareholders that they fully recommend and support the amended agreement. It also needs approval from regulators and other bodies like the Toronto stock exchange. Air Canada and Air Transat hopes to have all the approvals and close the deal by February 2021.