this post was submitted on 13 Dec 2024
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36
Ottawa has sold its stake in Air Canada: sources (www.ctvnews.ca)
submitted 3 weeks ago* (last edited 3 weeks ago) by HellsBelle@sh.itjust.works to c/canada@lemmy.ca
5 comments fedilink hide all child comments
 

As of Thursday afternoon, Air Canada shares closed at $25.28 on the Toronto Stock Exchange, up 23 cents.

CTV News reached out to the federal transport minister's office and was referred instead to Deputy Prime Minister and Minister of Finance Chrystia Freeland's office, who has not yet responded.

When asked about whether Ottawa selling its shares in Air Canada is in any way connected to the government's spending announcement on Monday, Lee says yes.

"There's an awful lot of buzz that they're going to crank up spending yet again. And so, the government needs money. They're rattling the cupboards to see what bits and pieces can be sold off."

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[–] bane_killgrind@slrpnk.net 9 points 3 weeks ago (1 children)

So we made money on the bailout?

[–] kbal@fedia.io 7 points 3 weeks ago (1 children)

That depends what you use for a discount rate I guess, but at least they didn't lose much.

[–] masterofn001@lemmy.ca 3 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

Air Canada is now free to fail.

I don't fly a lot, but I've never flown AC.

West jet and Porter (they still give you free drinks and snacks)

[–] xmunk@sh.itjust.works 6 points 3 weeks ago

In many airports you effectively don't have a choice.

[–] voracitude@lemmy.world 2 points 3 weeks ago

Well, they had to make up for the drop in tourism caused by Air Canada's shitty service somehow.