Industry: Transportation - Air
On June 30, Porter Airlines (“Porter”) secured up to $270.5 million in funding from the Canadian government through the Large Employer Emergency Financing Facility (LEEFF). The financing will allow Porter to restart operations and to support jobs in Canada’s airline sector. Porter has agreed to provide refunds for certain pandemic-related flight cancellations to eligible customers. An additional $20 million in financing will be provided to Porter for this purpose. The LEEFF program provides loans to major employers outside of private market financing arrangements and is available to all for-profit organizations who have a significant impact on the Canadian economy.
Torys LLP acted for the Canadian government represented by the Canada Enterprise Emergency Funding Corporation with a team led by
and which included