US EditionCanada Post gets $1-billion loan from federal government amid financial struggles
- Canada Post will receive a $1 billion loan from the federal government to address significant financial challenges, as stated by the federal government.
- The loan will help Canada Post maintain solvency but will not resolve its structural issues, according to Canada Post's statement.
- Canada Post has reported losses of $3.3 billion since 2018 due to declining letter mail and increased competition in parcel delivery.
- The funding is described as a needed financial bridge while Canada Post collaborates with the government on long-term viability solutions.
38 Articles
38 Articles
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Canada Post Gets $1B Loan From Ottawa Amid ‘Significant Financial Challenges’
Ottawa has given more than $1 billion to Canada Post to help the company stay afloat while it deals with financial struggles. The money, a total of $1.034 billion through the 2025–26 fiscal year, is to be paid back, according to Canada Post. “This short-term financing liability, which is within the regulations of the Canada Post Corporation Act, is designed to ensure the Corporation can maintain its solvency and continue operating as it deals wi…
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