September 10, 2026
CEEFC Provides Financial Support to Air Transat Under the Large Employer Emergency Financing Facility
September 10, 2026 — Air Transat, like many carriers, continues to navigate a challenging period for the airline industry. Maintaining airline operations helps ensure Canadians continue to have access to the connections, travel options and affordable air services they rely on.
The Canada Enterprise Emergency Funding Corporation (CEEFC), a subsidiary of the Canada Development Investment Corporation (CDEV), today announced $250 million in financial support for Transat A.T. Inc. (“Air Transat”) under the Large Employer Emergency Financing Facility (LEEFF).
This support builds on CEEFC’s existing relationship with Air Transat and reflects the program’s ongoing mandate: to help ensure that large Canadian employers facing financial pressure have access to the bridge financing they need to continue operating, protect jobs, maintain important and affordable services for Canadians, and preserve the economic activity they generate for Canadians.
Maintaining airline operations helps ensure Canadians continue to have access to the connections, travel options and affordable air services they rely on. This $250 million loan is intended to strengthen the company’s financial stability and give it the stability and time needed to adapt its operations, continue serving Canadian travelers, and return to a sustainable footing.
As with all LEEFF financing, this support is structured to protect the interests of Canadian taxpayers. It is subject to terms and conditions, including regular reporting, consistent with CEEFC’s standard governance framework for the program.
About CEEFC
Canada Enterprise Emergency Funding Corporation (CEEFC), a subsidiary of Canada Development Investment Corporation (CDEV), administers federally backed loan facilities that support large, otherwise viable Canadian enterprises facing significant economic disruption and challenges accessing traditional sources of financing. Established in 2020 to administer the Large Employer Emergency Financing Facility (LEEFF) in response to the COVID-19 pandemic, CEEFC now administers the Large Enterprise Tariff Loan (LETL) and Liquidity for Airline Sector Resilience (LASR) facilities. Through its programs, CEEFC provides access to liquidity during periods of economic uncertainty, helping maintain the viability of strategically important Canadian businesses and support the resilience of the Canadian economy.