Once again taxpayers have stepped in to throw a multibillion-dollar lifeline to corporate Canada, but this time it looks as though Canadians may actually make money on the deal. After a long and contentious negotiation, the federal government announced this week that it had struck a bargain to bail out Air Canada, imposing a strict series of conditions. And along with offering repayable loans to the company, Canadians took a half-billion-dollar stake, buying shares in Air Canada at $23 each. Despite a decline in share prices to about $26 when markets opened on Tuesday as investors assessed the deal, taxpayers were still in the money. Deputy finance minister Michael Sabia, who was once CEO of Bell Canada, may keep a low profile, but his business skills are all over the Air Canada deal, observers say.

Source: CBC News April 14, 2021 07:52 UTC