Air Canada in Exclusive Talks to Acquire Air Transat

An Air Canada Boeing 737 Max 8 aircraft is shown at Trudeau Airport in Montreal, March 13, 2019. Air Canada and Air Transat announced May 17, 2019, that they are in negotiations for Air Canada's acquisition of Air Transat. The Canadian Press/Graham Hughes

Air Canada is in negotiations to acquire Air Transat in a transaction that would be valued at about $520 million, both companies announced May 16.

The two companies have entered into a 30-day period of exclusive negotiations toward a definitive agreement for Air Canada’s acquisition of Air Transat.