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Ottawa Offers Millions in Loans to Airlines Struggling with High Jet Fuel Costs
The program targets smaller carriers and requires Canadian sourcing, dividend limits and job protections as jet fuel costs squeeze airline balance sheets.
- On Monday, June 8, 2026, the Canadian government launched a loan program offering airlines up to $150 million each to address high jet fuel costs, Finance Minister François-Philippe Champagne announced.
- Jet fuel prices surged to US$3.57 a gallon, well above the pre-war US$2 level, after the United States attacked Iran and Iran restricted traffic through the Strait of Hormuz, which carries 75 per cent of Europe's imported jet fuel.
- The Canada Development Investment Corp. manages the financing, requiring participating airlines such as Porter Airlines, Air Transat, and Flair to buy Canadian goods and restrict executive compensation.
- John Fragos, a spokesman for Champagne, stated the program ensures affordable travel for passengers as Canada prepares to host several games for the upcoming World Cup.
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The federal government is offering large loans to airlines that are struggling to cope with the rising prices of kerosene.
·Montreal, Canada
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This financial support will help ensure affordable travel for passengers. The post Kerosene Award: Ottawa offers loans to airlines appeared first on Les Affaires.
·Montreal, Canada
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Total News Sources15
Leaning Left6Leaning Right0Center6Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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