Air Canada Reaches Funding Agreement with Federal Government

Air Canada and the Government of Canada have reached a series of debt and equity financing agreements that allow the airline to access up to $5.8 billion in liquidity through the Large Employer Emergency Financing Facility program. As part of the package, Air Canada has agreed to resume service or access to its network for nearly all regional communities where service was suspended due to COVID-19; refund customers whose flights were cancelled as a result of the global pandemic; and maintain current employment levels.