Canadian Federal Government Launches $740 Million for Airport Funding

Canada’s federal government is planning to launch a series of programs aimed at the country’s aviation sector, with hundreds of millions of dollars in funding for infrastructure repair.

According to Bloomberg, which cited a government official familiar with the matter, Ottawa is making $740 million worth of capital investments available to Canada’s airports over the next six years. Of that, $500 million is specifically earmarked for repair of critical infrastructure such as runways and transit stations at large airports.

The funding was initially announced back in November, and at the time $435 million was to be split evenly between support for regional air transportation and airport rent relief. The global aviation industry was among one of the hardest-hit sectors by the Covid-19 pandemic, as air travel came to a near-standstill amid border restrictions and stay-at-home orders.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply