TORONTO, July 29, 2022 /CNW/ – Today, the Canada Enterprise Emergency Funding Corporation (CEEFC), a wholly owned subsidiary of Canada Development Investment Corporation (CDEV), announced an additional loan to Transat A.T. Inc. (“Transat”) under the Large Employer Emergency Financing Facility (LEEFF) to protect jobs in Canada’s airline sector.
This loan brings to a conclusion an application Transat filed during the height of the Omicron wave, which severely impacted the company’s revenues and workers.
As of today, CEEFC has stopped accepting new LEEFF applications, reflecting Canada’s strong economic recovery from the pandemic and the fact that no new applications for securing LEEFF loans have been received from Canadian companies, except for Transat, over the last year. The period for LEEFF applications is now closed.
Since its founding in 1987, Transat has become a major employer…