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Very difficult debt market prompted Sunwing to tap Ottawa for $375M loan: President
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Sunwing taps federal emergency loan program for $375M
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Sunwing receives $375 million credit from federal government
by Mike Eppel, News Staff
Posted Feb 2, 2021 9:04 am MDT
Last Updated Feb 2, 2021 at 7:23 am MDT
A Sunwing Boeing 737-800 passenger plane prepares to land at Pearson International Airport in Toronto on Wednesday, August 2, 2017. (THE CANADIAN PRESS/Christopher Katsarov
The federal government is extending some financial support to one of Canada’s airlines.
Sunwing is tapping into a $375-million credit line days after agreeing to suspend flights to Mexico and the Caribbean along with all other major Canadian carriers.
The loan is being granted through the federal government’s Large Employer Emergency Financing Facility (LEEFF), which was put together last May to help big companies weather the pandemic.
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