Sunwing moves for emergency funding

Sunwing Vacations and Sunwing Airlines will gain access to $375 million in additional liquidity through the Large Employer Emergency Financing Facility (LEEFF). As part of the agreement, Sunwing will set aside cash already paid by customers for travel that was cancelled due to the pandemic. The account will be maintained as the federal government and the airline industry conduct negotiations on the treatment of those prepaid amounts. According to government documents, Sunwing has drawn $50 million of the $375 million facility, and is the first Canadian air carrier to tap the program. The LEEFF program provides loans in excess of