Transat A.T. Inc. says it has secured up to $150 million in federal aid to help offset the soaring price of jet fuel caused by the Middle East war.
The Montreal-based travel company, which runs Air Transat, says the size of the loan will be based on the difference in the cost of fuel between the next few months and the same period last year, ending on Oct. 31.
The financial relief comes seven weeks after Ottawa announced a loan lifeline available to airlines struggling to cope with sky-high oil prices and the slashed flight schedules and lower profit forecasts that followed….