MONTREAL - Travel company Transat AT Inc. says it has reached a deal with Ottawa to borrow up to $700 million, nearly half of which will go toward refunding travellers for cancelled flights. The money will come through the federal government’s Large Employer Emergency Financing Facility, the same program used to help Air Canada. In connection with the financing, Transat issued the government 13 million warrants for the purchase of Transat shares at an exercise price of $4.50 per share. Transat has endured a tough year, suspending all flights following the federal government’s request in January to stop travel to Mexico and the Caribbean due to the pandemic. Loading... Loading... Loading... Loading... Loading... Loading...Read more about:

Source: thestar April 29, 2021 11:22 UTC