Tags: Virus Outbreak | Air Canada Bailout

Air Canada, Canadian Government Agree on Pandemic Bailout

Monday, 12 April 2021 08:00 PM

TORONTO (AP) — Air Canada says it has agreed with the Canadian government on financing that will allow the airline to access as much as $5.9 billion Canadian (US$4.7 billion) to help it recover from the economic damage caused by the pandemic.

As part of the financial package, Air Canada has agreed to a number of commitments related to customer refunds, service to regional communities, restrictions on the use of the funds provided, employment and capital expenditures.

In return for the aid, the carrier is offering refunds to customers who bought non-refundable fares but did not travel due to the pandemic since February 2020.

Also in exchange for the bailout, the airline is resuming service for all regional communities where service was suspended.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Air Canada says it has agreed with the Canadian government on financing that will allow the airline to access as much as $5.9 billion Canadian (US$4.7 billion) to help it recover from the economic damage caused by the pandemic.As part of the financial package, Air Canada...
Virus Outbreak,Air Canada Bailout
122
2021-00-12
Monday, 12 April 2021 08:00 PM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved