Air Canada prepays EDC loans

Air Canada has prepaid loans of approximately $650 million from Export Development Corporation (EDC) used by the company to help fund its acquisition of 19 Airbus A220-300 aircraft. The prepayment, which is also subject to accrued interest, was made on June 21, 2023. “One of Air Canada’s major financial objectives is to deleverage its balance sheet following the COVID-19 pandemic and prepaying these loans we received for our A220 aircraft is a significant step toward this goal,” said Amos Kazzaz, executive vice president and chief financial officer of Air Canada. “We appreciate EDC’s assistance in purchasing these Canadian-built aircraft, which