The federal government has announced financial support for Air Canada.
The government says as a condition to receiving this support, Air Canada will ensure that:
- Regional communities retain air connections to the rest of Canada through the restart of service at airports temporarily suspended by Air Canada;
- Any customer of Air Canada who wants a refund will receive one for certain pandemic-related cancelations;
- Airline jobs, pensions, and collective agreements are protected; and
- Air Canada remains a customer for Canada’s aerospace sector.
The federal government says negotiations continue with other Canadian carriers on financial support and any agreement reached in those negotiations will include a requirement that the airline also refund pandemic related-cancelations. In the event that an airline does not need liquidity support from the government, the government remains open to helping all airlines provide voucher refunds to their customers.
This financial support announced today, in the form of repayable loans and an equity investment, will help Air Canada weather the current economic downturn and will protect thousands of Canadian jobs.
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🔴LIVE: Deputy Prime Minister Chrystia Freeland virtually makes an announcement and holds a media availability with Minister Omar Alghabra ⬇️https://t.co/vaQw97ibUF pic.twitter.com/nTWCjnaJaB
— Deputy Prime Minister of Canada (@DeputyPM_Canada) April 12, 2021
LIVE: Federal government expected to announce financial aid for Air Canadahttps://t.co/0ZzMHvZgYl
EN DIRECT : Le gouvernement fédéral devrait annoncer de l’aide financière à Air Canada https://t.co/vthSaDVKij#cdnpoli #polcan pic.twitter.com/BoLCfx3Hez
— CPAC (@CPAC_TV) April 12, 2021