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"G.S. had no economic motivation for this transaction to fail," Mr. Palm said.
Pending regulatory approvals, we expect this transaction to close in the second half of 2013.
"It reflects our absolute determination to bring this transaction to a successful completion".
"We think we have structured this transaction to address potential national security concerns," he said in a statement.
"While there is potential for this transaction to create a truly great airline, there are also risks involved," the unions said in a joint statement.
"We staged this transaction to give Steve a chance to learn this business and to give the franchise a less abrupt change," Mr. Modell said.
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"We believe the Supreme Court of Canada should reverse this decision, and allow the transaction to proceed".
Cendant said it expected the transaction to close this Monday, after a meeting of Fairfield stockholders.
But any investor perplexed enough by this odd transaction to sell saved himself quite a bit of portfolio damage.
This transaction has to be approved by shareholders and is due to be completed before the summer.
Based on the limited information available, this transaction appears to be heading toward litigation.
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