OTTAWA — Air Canada and the federal government have reached an agreement on a $5.9-billion aid package that the company says will speed up customer refunds, protect industry jobs and return service to some communities that were shuttered due to the COVID-19 pandemic.
In a news release, Air Canada said the $5.879-billion liquidity agreement is provided through the government’s Large Employer Emergency Financing Facility (LEEFF) program and includes $4 billion in loans, a $500-million investment in Air Canada stock and a separate $1.4-billion loan to help facilitate customer refunds.
Boy am I shocked.
In exchange for ~$6B in Canada govt financing, Air Canada agreed to, among other things, complete the purchase of 33 Airbus A220 aircraft, produced by Airbus's (formerly Bombardier) facility at Mirabel, Que.
— Paul Vieira (@paulvieira) April 12, 2021
