Air Transat receives government funds

The Canadian government has provided Transat with up to Can$700 million (US$570 million) in loans. “With this support, we now look forward to resuming operations as soon as safe travel is possible and travel restrictions can be lifted,” company president Jean-Marc Eustache said in a statement. Under the terms of bridge financing through the government’s Large Employer Emergency Financing Facility, Transat must reimburse customers whose travel had to be canceled over the past year due to public health restrictions on travel. The average rate of the loans is about six percent, which are also backed by warrants that may be