Transat AT, a Canadian leisure airline and tour operator, has entered into an agreement in principle with the Canada Enterprise Emergency Funding Corporation (CEEFC) to restructure the significant debt it incurred during the COVID-19 pandemic. The debt was provided under the Large Enterprise Emergency Funding Facility (LEEFF)program, which was launched to assist major Canadian companies affected by the crisis.
SriLankan Airlines reported a $6.6 million net loss for the seven months ending October 2024, as net traffic revenue fell 14.9% to $517.3 million. The decline reflects weaker demand and financial struggles, continuing the airline’s challenging financial trajectory.
Regional Express Holdings (Rex), one of Australia’s prominent regional airlines, has secured $52.6 million in government funding to keep its essential regional routes operational during an extended voluntary administration process. The financial support underscores the government’s commitment to sustaining critical air connectivity across Australia, particularly for remote and underserved communities relying on Rex’s services. Although the exact terms…
