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CrewBunk
Posts: 315
Joined: Sat Nov 18, 2017 3:12 am

Re: Porter Airlines extends operations restart date

Tue Jul 06, 2021 12:27 pm

micstatic wrote:
Air Canada got almost 5B US in april

No, Air Canada (and all Canadian carriers) received the ability to access government loans (at Mafia interest rates) in April.

This was in exchange for equity in the airline and Aeroplan. As well, certain restrictions were placed on the operation, including re-establishing (non profitable) flights to remote areas of Canada. To date, Air Canada has only received payroll assistance, like all corporations in Canada.

One of the conditions was to refund non refundable fares, which had begun.
 
Canuck600
Posts: 344
Joined: Tue Aug 01, 2017 5:24 pm

Re: Porter Airlines extends operations restart date

Wed Jul 07, 2021 1:49 am

It wasn't all remote areas that they had to restart services to, I certainly wouldn't call Penticton, BC a remote area.
 
Airlinerdude
Posts: 268
Joined: Tue Mar 30, 2010 3:07 am

Re: Porter Airlines extends operations restart date

Wed Jul 07, 2021 2:21 am

CrewBunk wrote:
No, Air Canada (and all Canadian carriers) received the ability to access government loans (at Mafia interest rates) in April.

This was in exchange for equity in the airline and Aeroplan. As well, certain restrictions were placed on the operation, including re-establishing (non profitable) flights to remote areas of Canada. To date, Air Canada has only received payroll assistance, like all corporations in Canada.


Do we know that for sure, or is that an assumption? A draw down on the government's assistance would be disclosed in second quarter financials which aren't available to the public until July 23rd.

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