Financial support for Canada’s various sectors, the airline industry included, to help offset financial losses due to the COVID-19 pandemic is coming, Prime Minister Justin Trudeau said on Monday (May 4th).
Speaking from Ottawa at his daily press briefing, Trudeau said that details on supporting specific industries in Canada will be announced soon.
“We have, in Canada, a very strong airline sector and we need to continue having a strong airline sector when [the pandemic] is done,” Trudeau told reporters. “We’re looking very carefully at how to support industries that are important to Canada and to Canadians.”
Trudeau credited his government’s CERB and wage subsidy programs for helping the airline sector “off the bat” in the early weeks of the pandemic.
“We will have more to say about sectorial support in the coming days,” Trudeau said.
The Prime Minister’s words come as Air Canada posted first-quarter losses of $1.05-billion dollars on Monday.
Trudeau wouldn’t confirm if whether or not a bailout for Canada's airlines was on the table.
However, the Prime Minister did acknowledge that Canada’s airline and tourism sector has been “hard hit” by the coronavirus crisis.
“We will be looking at sectorial supports,” Trudeau reiterated. “It’s something we have to get right.”
Don't miss a single travel story: subscribe to PAX today!