Taxpayers of Canada are ready once again, to throw a multibillion-dollar lifeline to corporate Canada, but with this deal, the Canadians are sure to make money.
Giving an end to long negotiation, the federal government has finally announced this week, that Air Canada has been able to bargain the bailout with some strict conditions. The bailout has given the access to provide refunds to ticket holders, with the support to the aerospace industry, regional airports to have return service and all these factors will contribute to ensuring the country’s biggest air carrier. The air carrier may now survive financially until Canadians will start traveling post the pandemic.
On Monday, in a late-night news conference, Deputy Prime Minister and Finance Minister Chrystia Freeland’s eyes were lit up while the reporters questioned “why taxpayers were fooling the bill” in order to refund Air Canada’s ticket holders.
In response to this Freeland said, “Taxpayers aren’t footing the bill. This is a loan facility, and the government of Canada fully expects to be paid back.”
In the bailout, the Government is taking a risk worth $6 Billion. In trade and industry, there are fewer chances that company will not pay its bills, for which Canadian people will be on the hook