Winnipeg Free Press By: Christopher Reynolds, The Canadian Press Posted:
Last Modified: 11:07 PM CDT Monday, Apr. 12, 2021 Save to Read Later
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.
An Air Canada Boeing 737 MAX 8 jet arrives at Halifax Stanfield International Airport on Friday, April 9, 2021. THE CANADIAN PRESS/Andrew Vaughan
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 at $1 million and restore
Air Canada, Ottawa agree to aid package worth up to $5 9 billion - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
Christopher Reynolds
An Air Canada Boeing 737 MAX 8 jet arrives at Halifax Stanfield International Airport on Friday, April 9, 2021. THE CANADIAN PRESS/Andrew Vaughan April 12, 2021 - 9:07 PM
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 at $1 million and restore service to regional airports.
The package, which will see the federal government pay $500 million for a six-per-cent stake in the country s biggest airline, also requires the carrier to maintain employment at current levels or higher.
Air Canada agrees to $5 9-billion aid package, giving Ottawa equity stake in airline - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.