You can't have Air Canada lose millions a day and not do anything about it: Unifor president
Long awaited aid for Canada’s airline industry is on the verge of being announced.
CTV News confirmed Monday afternoon that the federal government will announce an aid package for Air Canada Monday evening.
Earlier on Monday, The Globe and Mail reported that the “multibillion-dollar” aid package, which is expected to involve other parts of the industry, will not include equity stakes. The newspaper reports that the aid is expected to be built around low-cost loans and wage subsidies.
Canada’s airline industry has faced historic turmoil since the onset of COVID-19 as public health restrictions and tighter border regulations battered demand for service, prompting thousands of layoffs and dramatically scaled-back flight schedules.
Media representatives for Air Canada and a spokesperson for Finance Minister Chrystia Freeland did not immediately respond to BNN Bloomberg’s request for comment.
Freeland and Transport Minister Omar Alghabra are scheduled to make an announcement and address media at 7pm ET. BNNBloomberg.ca will stream that event live.