TORONTO — The news reports coming in from Grand Bahama and the Abaco Islands are heartbreaking, and the images even more so.
MONTREAL — Air Canada says its deal to acquire travel company Transat A.T. Inc. has cleared another hurdle.
The airline says the Superior Court of Quebec has granted a final order approving the takeover following approval by shareholders last week.
The deal is still subject to regulatory approvals and other closing conditions.
The takeover will narrow the field of airline competition, securing for Air Canada about 60% of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.
It is expected to face intense scrutiny from the Competition Bureau and other regulatory authorities, including in Europe.
Earlier this week, federal Transport Minister Marc Garneau approved an extended 250-day public interest assessment by Transport Canada and the Commissioner of Competition.