Purchase of aircraft | Air Canada pays off debt totaling $589 million

(Montreal) Air Canada said Friday that it had repaid a debt of approximately $589 million that it had used to buy planes.

The airline says it has repaid a $462 million loan that Export Development Canada (EDC) gave it to help it buy 14 Airbus A220-300s.

Air Canada also repaid $127 million in a partial repayment of financing backed by the Export-Import Bank of the United States, which was used to purchase four Boeing 787-8s.

Air Canada explained that it had made reducing its debt one of its main priorities in the wake of the pandemic.

According to her, these repayments strengthen her balance sheet and give her more flexibility to make strategic investments.

Air Canada posted a profit of $838 million for its quarter ended June 30, compared with a loss of $386 million for the same period a year earlier.

Exclusive Content:

Dramatic housing shortage on sunny islands: Canary Islands residents see “cancer” in flood of vacationers and are planning mass protest

Intended to prevent catastrophe: After a series of near-collisions at airports, US authorities are now deciding on three measures

After forest fires: Greece gives holidaymakers 500 euros for “Rhodes Week”