An Air Canada plane takes off from Pierre Elliott Trudeau International Airport in Montreal on Sept. 13, 2024. The Canadian Press/Christinne Muschi
The federal government has announced a new loan program it says will help Canadian airlines dealing with surging fuel costs amid “uncertainty” and supply disruption caused by conflict in the Middle East.
To address what the Department of Finance called “global conflicts and supply disruptions,” the Liquidity for Airline Sector Resilience program will offer up to $150 million each in loans to Canadian airlines who agree to abide by certain conditions including limits of executive pay and dividends as well as “Buy Canadian” commitments.
