For a fourteenth day in a row, Air Transat shares continued to plunge on the stock market on Wednesday, a black series that had not occurred since the 2008 crisis for the airline company.
Since January, the stock has gone from $ 16 to $ 3.84 around noon on Wednesday. A person who held $ 1,000 of shares at the start of the year only holds $ 236.
Today, Transat is only worth $ 147 million.
Last year, Air Canada offered $ 720 million, or the equivalent of $ 18 per share, to acquire Transat.
Financial circles therefore expect that the transaction will abort, or at least be renegotiated at a price lower than the $ 18 initially offered.
Towards a new model?
Former number two of the Caisse de dépôt et placement du Québec Michel Nadeau urges the government to think about a new model and even to get involved in the company's shareholder structure.
“Quebec must be present. The Ministry of Transport must be present in this area. Unfortunately, air transport is the poor relation of Quebec. But I think we should start an interest in air transport, ”he said.
Michel Nadeau believes that this participation will have to be done with other actors.
“I think it would be an equity investment with the Caisse, with the Solidarity Fund, Desjardins, other players. Trying to develop a model is not easy, ”he said.