Air Canada exits Government of Canada Financial Support

Due to its improved liquidity position and ongoing recovery from the pandemic, Air Canada has announced that it is withdrawing from further Government of Canada financial support. The support package, announced in April 2021, provided the carrier access to interest bearing loans of $5.375 billion through several separate credit facilities. To date, Air Canada has only accessed the facility solely dedicated to refunding customers’ non-refundable tickets, while all other remaining facilities totalling $3.975 billion have not been used. “Air Canada’s recovery from COVID-19 continues. We are recalling employees, adding new routes and frequencies to our network, and restoring services, and,