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Rivals under pressure to copy Air Canada financing package

The Globe and Mail
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Andrew Vaughan/The Canadian Press
Air Canada’s decision to give the federal government a stake in the country’s airline in exchange for low-cost loans is putting pressure on rival carriers to cut similar deals, and concede a portion of any postpandemic recovery to Ottawa.
The country’s largest airline announced a $5.9-billion government financing package late Monday that could see Ottawa end up owning a nearly 10-per-cent stake of Montreal-based Air Canada. In announcing the program, which was negotiated over several months, federal Finance Minister Chrystia Freeland said: “It was very important to get a good deal for Canadians.”

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