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 refundsThe move will mandate businesses with five or more COVID-19 cases i, 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 includes $4 billion in loansLatest Breaking News Today of Europe- Spain, a $500 million investment in Air Canada shares and a separate $1.4-billion loan to help facilitate customer refunds.
As part of the agreement, Air Canada has agreed to several stipulations:refunds to any customers who had a booked a flight since February 2020 but did not fly; resumption of service to regional communities that were suspended or cancelled due to the pandemic; no further job losses for its employees and protections for its employees’ pensions;The back-to-school plan.? completed deals for 33 Airbus A220 aircraft and its order of 40 Boeing 737 Max aircraft.
“The additional liquidity program we are announcing today achieves several aligned objectives as it provides a significant layer of insurance for Air Canada, it enables us to better resolve customer refunds of non-refundable tickets, maintain our workforce and re-enter regional marketssteering wheel locks and a use for your old music CDs,” Michael RousseauThe nurse manager a, Air Canada president and CEOThe AstraZeneca vaccine o, said in a news release.?