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ARTICLE · 12 FEBRUARY 2021

LEEFF Loan To Sunwing Airlines

Borden Ladner Gervais LLP
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On February 1, 2021, the Canada Enterprise Emergency Funding Corp. (CEEFC) announced a new loan under the Large Employer Emergency Financing Facility (LEEFF).

CanadaCoronavirus (COVID-19)
Howard Silverman
Howard Silverman
Frank Callaghan
Frank Callaghan
Christine Mason
Christine Mason
Philippe Tardif
Philippe Tardif
Tyler McNaughton
Tyler McNaughton
Charlotte Chien
Charlotte Chien
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On February 1, 2021, the Canada Enterprise Emergency Funding Corp. (CEEFC) announced a new loan under the Large Employer Emergency Financing Facility (LEEFF). The agreement gives Sunwing Vacations Inc. and Sunwing Airlines Inc. access to $375 million of liquidity to protect jobs in Canada's airline sector.

Sunwing Airlines Inc. and Sunwing Vacations Inc. together provide almost 3,000 Canadians with full-time jobs. Sunwing has agreed to maintain an account with money received from customers for travel that was cancelled due to the COVID-19 pandemic. This account will be maintained until the government's broader discussions with the airline industry conclude and a policy is established for the treatment of these prepaid amounts.

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