Air Canada scrapped its proposed acquisition of Transat AT Inc on Friday after being advised by the European Commission that it would still face high regulatory hurdles, clearing the way for other domestic suitors for the tour operator.

Canada’s largest airline said that after recent discussions with the European Commission (EC), it had become evident the EC will not approve the acquisition based on the offered remedy package the carrier made earlier this year.

Mike Armstrong explains the hurdles Air Canada faced in its proposed takeover and who's still interested in buying Air Transat.

For more info, please go to https://globalnews.ca/news/7735931/air-canada-transat-terminate-deal/

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