HomeLoansCanada's Transat secures a final C$150mn Covid loan

Canada’s Transat secures a final C$150mn Covid loan

Transat A.T. Inc. – the parent of Air Transat (TS, Montréal Trudeau) – has secured a final CAD150 million Canadian dollars (USD117 million) Covid-support loan from the Canada Enterprise Emergency Funding Corporation (CEEFC).

The funding will be Transat’s last loan through the Large Employer Emergency Financing Facility (LEEFF), aimed at protecting jobs in Canada’s airline sector during the pandemic, the CEEFC announced in a statement. The loan concludes an application Transat filed during the height of the Omicron wave, which severely impacted the company’s revenues and workers.

The CEEFC said applications under the LEEFF Covid scheme had now closed. “The 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…

Read more at www.ch-aviation.com

- Advertisment -

Most Popular