TORONTO: 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.
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