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Canada closely monitoring slumping airline industry

Christian Fernsby ▼ | May 29, 2020
Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday.
Marc Garneau
Minister   Marc Garneau
“We are monitoring the situation from day to day... I have a responsibility to make sure that when this pandemic is over, we still have an airline industry,” Garneau told reporters when asked if the federal government would step in to help Air Canada (AC.TO) through the COVID-19 downturn.

Topics: Canada

Due to Canada’s size and geography, “We expect and need an airline industry in this country,” he said.

Before considering any sector-specific aid, the government is waiting to see if the industry takes advantage of its emergency loan program for large companies, Garneau added.