Canadian taxpayers are saving themselves a huge chunk of money. In another sign of the travel recovery in Canada, Air Canada has announced that due to its improved liquidity position and ongoing recovery from the pandemic, it is withdrawing from further government of Canada financial support. The support package, announced in April 2021, provided the carrier access to interest-bearing loans of $5.375 billion through several separate credit facilities. To date, Air Canada has only accessed the facility solely dedicated to refunding customers’ non-refundable tickets, while all other remaining facilities totaling $3.975 billion that were offered by the Justin Trudeau government Read more
financial news
Business travel is on the mend, according to a new study from the World Travel and Tourism Council and McKinsey & Company consultants. The latest WTTC/McKinsey report suggests that, following a 61% decline in 2020, global business travel spending is expected to rise by 26% this year and by 34% in 2022. Overall, they expect business travel to recover to two-thirds of 2019 levels by next year. But the report, titled Adapting to Endemic Covid-19: The Outlook for Business Travel, says recovery will vary by region. In the Asia-Pacific region, business travel is expected to rise 32% this year and Read more
