Why wouldn't Westjet offer $750M for Transat? Westjet would get a bigger share of European (% ?) and Sunny destinations (40% ?) travel.
''Air Canada and Transat command a combined 60 per cent slice of the transatlantic market from Canada, overlap on some sun destinations and maintain a firm hold on Montreal air travel, TRIGGERING a forthcoming review from Canada's Competition Bureau.''
Westjet has enough cash and will have more once the deal with Onex is passed.
Air Transat's head office would still stay in Quebec with guarantees.
No money will be required from the Province of Quebec.
They could use part of Group Mach's offer to include Group Mach and TM Grupo Inmobiliario for a 40% stake ($300M)
in exchange for part of the hotel plan in Group Mach's offer.
They would get some of Transat's cashflow and other properties including the Mexican land they bought for $75M.
Group Mach's hotel plan could get even bigger if Westjet and Delta would like to make it bigger.
Competition watchdog green-lights joint venture between WestJet and Delta
https://www.bnnbloomberg.ca/competition-watchdog-green-lights-joint-venture-between-westjet-and-delta-1.1279725
Delta has ordered more CSERIES planes (Airbus A220) than Air Canada.
Delta is part of the SkyTeam global alliance and Air Canada is part of the Star Alliance.
It seems that Onex would be happy to take away Transat from Air Canada. : )
Value of transat shares would be $18.75 instead of $13.