Air Canada CEO Hopeful Of Airline Bailout

Air Canada CEO Calin Rovinescu says he’s hopeful the federal government will bail out air carriers after what he calls “the bleakest year in aviation history.” Rovinescu told analysts in a conference call on Friday that progress is being made on a deal to keep airlines viable. He made the comments while laying out the details of Air Canada’s staggering $1.16 billion loss in the fourth quarter of 2020. The company has been losing $13 million a day. “While there is no assurance at this stage that we will arrive at a definitive agreement on sector support, I am more optimistic on this front for the first time,” Rovinescu said.
The government is insisting on full refunds for passengers with cancelled flights and restoration of small market routes as part of the deal for sectoral support. Rovinescu also indicated that enhanced COVID-19 testing might replace quarantine requirements for some international flights after April 30.