OTTAWA—Finance Minister Chrystia Freeland says the government will voice its concerns about Air Canada doling out millions in bonuses to its executives as the company was negotiating a federal bailout. Freeland says she is disappointed there are some businesses that seem not to be behaving as responsible corporate citizens while receiving taxpayer−funded federal aid to…
Finance Minister Chrystia Freeland Says Feds Will Voice Concerns to Air Canada Over Executive Bonuses
Air Canada Agrees to $5.9 Billion Aid Package, Giving Ottawa Equity Stake in Airline
OTTAWA—After months of negotiations, Ottawa has reached a multibillion-dollar rescue deal with Air Canada that will give the government an equity stake in the pandemic-battered airline. Under the agreement, Air Canada can access up to $5.9 billion from the public purse but must refund passengers whose flights were cancelled due to COVID−19, cap executive compensation…
After Failed Takeover, Air Transat Seeks Help as Debt Crunch Looms
OTTAWA/MONTREAL—Struggling tour operator Air Transat is in talks with the federal government on aid but may not reach a deal by an April debt deadline, a source close to the situation said, putting pressure on Quebec to ride to the rescue of another troubled aerospace brand in the province. Air Canada dropped its merger plans…
Ottawa Approves Air Canada’s $190 Million Transat Purchase
Canada’s travel landscape could soon change after the federal government approved Air Canada’s $190-million purchase of Transat A.T., after COVID-19 diminished the deal’s value. Transport Minister Omar Alghabra announced the approval Thursday evening just days before the deal’s Feb. 15 deadline, saying the government concluded the purchase is in the public interest. He said it…
Air Canada Reduces First Quarter Capacity by 25 per Cent, Cuts 1,700 Jobs
MONTREAL—Air Canada says it will cut 1,700 jobs as it scales down flights for the first quarter of 2021. The 25 percent reduction in service will also affect 200 employees at Air Canada’s Express carriers, the company said Wednesday morning. With the reduction, Air Canada’s capacity in the first quarter of 2021 will be about…
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