Crippled by COVID-19, Canada's airline industry says it's plummeting into insurmountable debt as planes sit idle and people cancel or postpone travel plans. "The carriers are burning through cash," said Mike McNaney, the president of the National Airlines Council of Canada, which represents Air Canada, Air Transat and WestJet. Others, such as Air Canada, scaled back operations by more than 90 per cent because of the unprecedented drop in demand. A vice president at Air Canada recently said he anticipates air travel will resume worldwide by Christmas. The Trump administration agreed to a $25 billion bailout to prop up its airline industry.

Source: CBC News May 02, 2020 07:52 UTC