Air Canada with a multi-billion dollar aid deal to help cope with massive financial losses and millions in customer refunds for cancelled trips amid the COVID-19 pandemic.Speaking at press conference Monday evening, Deputy Prime Minister Chrystia Freeland announced the government’s decision to “step in to support Air Canada, its nearly 15,000 active employees and its customers.”According to Freeland, the support will be in the form of a $4 billion loan as well as $500 million in equity — giving the government a stake in the airline for the first time since its privatization in 1989.
Air Canada cuts 1,500 jobs, suspends more international flights A separate $1.4 billion loan will also be used as a “voucher refund facility” for Air Canada..