MONTREAL — Air Canada says it has repaid about $589 million in debt that it used to buy aircraft. The company says it repaid a $462-million loan from Canada's Export Development Corp.
The company says it repaid a $462-million loan from Canada's Export Development Corp. that it used to pay for the purchase of 14 Airbus A220-300 aircraft.
The airline also repaid $127 million in a partial repayment of financings supported by the Export-Import Bank of the United States that was used to buy four Boeing 787-8 aircraft.It says the moves strengthen its balance sheet and provide it with more flexibility to make strategic investments. Air Canada reported a profit of $838 million in the quarter ended June 30 compared with a loss of $386 million in the same period a year earlier.The Canadian Press
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