**Update: 12/19/20 @ 22:15 UTC - An Air Transat spokesperson has shared a statement with Simple Flying about the progress of the arrangement; details below.**

The statement adds that investors who acquire shares of Air Transat shortly before the finalizing of the transaction are advised that they may not have enough time in order to submit a duly completed letter of transmittal and election form by the election deadline in regards to the shares. So, they should communicate with their intermediaries such as their brokers or trust companies before making such a move.

A significant move

Altogether, the transaction with Air Canada would give Air Transat the support needed following the overwhelming impact of the global health crisis. The carrier has been busy trying to limit the damage. However, the deal will allow it to recover with a solid backing.

An Air Transat spokesperson has since been in touch with Simple Flying. The representative said that the airline is glad that its shareholders have approved the agreement by a very large majority. It is also satisfied that the Superior Court issued the order confirming the arrangement, as it expected.

What are your thoughts about the court’s approval of the transaction between Air Canada and Air Transat? Do you feel that the deal is a good move for those involved? Let us know what you think of the situation in the comment section.