Canada announces loan program for airlines facing high fuel costs
The Canadian government announced it will implement a loan program for airlines to address high fuel prices resulting from the conflict in the Middle East
Canada will offer airlines a loan program as a solution to the problems they are facing due to high fuel costs, a consequence of the war in the Middle East.
According to the country’s Ministry of Finance on Monday, “the initiative aims to help airlines maintain their operations and preserve jobs.”
The program, which will be launched by the Canadian government, will provide eligible airlines with up to 150 million Canadian dollars (US$107.5 million) in repayable liquidity support.
The conditions stipulate that airlines will be required to limit executive compensation and maintain their operations in Canada.
M.Pino
Source: investing
(Reference image source: Jason Hafso on Unsplash)
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