Air Canada and Government of Canada conclude agreements on liquidity program

• Air Canada to access up to $5.879 billion in liquidity through the Large Employer Emergency Financing Facility program
• Air Canada will be ready to safely connect Canadians within Canada and the world
• Air Canada has agreed to a number of commitments related to customer refunds

Air Canada announced today that it has entered into a series of debt and equity financing agreements with the Government of Canada, which will allow Air Canada to access up to $5.879 billion in liquidity through the Large Employer Emergency Financing Facility (LEEFF) program.

“Air Canada entered the pandemic more than a year ago with one of the global airline industry’s strongest balance sheets relative to its size. We have since raised an additional $6.8 billion in liquidity from our own resources to sustain us through the pandemic, as air traffic ground to a virtual halt in Canada and internationally,” said Michael Rousseau, President and Chief Executive Officer of Air Canada.