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Air Canada and Government of Canada conclude agreements on liquidity program

Air Canada and Government of Canada conclude agreements on liquidity program
Air Canada and Government of Canada conclude agreements on liquidity program
Written by Harry Johnson

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

  • 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.