Shareholders of Montreal-based Transat A.T. voted Aug 23 in favour of Air Canada’s takeover bid, ending months of uncertainty and paving the way for review by Canadian regulatory authorities in the coming weeks. The transaction was approved by 95% of Transat shareholders, with approximately 70% of eligible shareholders participating. The proposed transaction would see Air Canada acquire Transat, including its Air Transat operating division, at C$18/share (US$13.60), valuing the transaction at about $720m. The transaction remains subject to closing conditions, including the approval of the Superior Court of Quebec, as well as likely regulatory review by Transport Canada and the Canadian Competition Bureau, in part because Air Canada is the largest competitor in many of Air Transat’s markets. <br/>
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United Airlines is suspending daily service from Chicago O'Hare International to Hong Kong starting next month, the company confirmed Saturday. United Airlines did not cite the ongoing protests in Hong Kong as a reason to cancel the direct route. Instead, the airline said that it has seen "a reduced demand for travel from Chicago." Despite the suspension between Chicago and Hong Kong, "United remains the largest US airline to HKG," the company added. Hong Kong has been facing mass demonstrations for nearly 3 months. United is also planning to suspend service between Guam International and Hong Kong starting Oct 14, a change that was previously announced. At the same time, United Airlines confirmed to CNN that it will add a second flight between San Francisco and Hong Kong this fall. <br/>