April 2 (Reuters) - Air Canada AC.TO and Transat AT Inc TRZ.TO said on Friday they have mutually agreed to terminate the proposed acquisition of Transat by Air Canada.
The two companies had agreed in June 2019 on the acquisition, the terms of which were subsequently amended in August 2019 and then revised in October 2020 as a result of the severe economic impact of the COVID-19 pandemic.