As losses pile up in the Canadian airline industry, Prime Minister Justin Trudeau has hinted at financial support, though the details remain murky, reportsCTV News.
“We need to continue to have a strong airline sector, once this is all done. We're looking very carefully at how to support industries like that, that are so important to Canada and to Canadians,” Trudeau said.
However, Trudeau did not say how much money would be sent and when.
The statement comes after AC revealed losses topping $1 billion in Q1.
Karl Moore, professor of business strategy at McGill University and an expert in the airline industry, believes the time is now for financial support to be sent toward Canada’s airlines.
"I think they need government help,” he told CTV News. “We see it in the U.S. and Europe and Asia, governments are helping people like Lufthansa, KLM, Air France (and) British Airways."
The federal government has already offered $1.7 billion in financial aid to the oil and gas industry, and Trudeau has mentioned the tourism industry could also receive some financial benefit.
Anna Kroupina Journalist
Anna is OJ's newest member and she joins the team as a writer/reporter. She co-writes the daily news and covers events. Although she's new to the industry, pursuing a career path in travel/tourism has been a goal since her first family road trip to the Florida Keys sparked a desire to discover the world and this exhilarating, fast-paced industry.