Apr 29, 2021
By Jane Brown
Travel company Transat AT Inc. says it has reached a deal with the Trudeau Liberals in Ottawa to borrow up to $700-million.
The loan will come through the federal government’s Large Employer Emergency Financing Facility, the same program used to help Air Canada earlier this month.
A statement from Transat says $390-million will be used to help support its business, while $310-million will be used to provide reimbursements to travellers.
Transat has endured a tough year, suspending all flights following the federal government’s request in January to stop travel to Mexico and the Caribbean due to the pandemic.