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Air Canada secures billion-dollar government bailout
Air Canada has finally reached an agreement with the federal government on a $5.9-billion financial aid package. It comes with conditions, compelling the airline to issue full refunds to all customers impacted since February 2020 and resuming services to regional communities on routes that it suspended.
It must also ensue there are no further job losses. The Large Employer Emergency Financing Facility includes $5.4 billion in loans.
Additionally, the government has made a $500-million investment in Air Canada stock.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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