After serving at the helm of Southwest Airlines for nearly 17 years, CEO Gary Kelly will “transition roles” in February 2022, stepping aside from leading the Dallas-based carrier to serving as its Executive Chairman.

Acquisition talks between Canadian leisure-travel company Transat and businessman Pierre Karl Peladeau have officially ended, leaving Transat to explore financing options as its airline Air Transat works to restart operations on July 30.

Canada’s airlines have faced tight international travel restrictions and a fair number of interprovincial travel constraints since the onset of the pandemic.