Air Canada holder endorses government’s rescue plan

Bloomberg

Letko Brosseau & Associates Inc, one of Air Canada’s largest shareholders, says the terms of the government’s rescue package are fair and the airline’s stock could rise about 50% from current levels once the pandemic eases.
Canada’s largest carrier reached a deal with the
federal government for loans and equity worth C$5.9 billion ($4.7 billion).
The company will get access to five new credit facilities; the state will buy an ownership stake of more than 5% and receive 14.6 million warrants to buy more shares.
Letko is Air Canada’s third-largest shareholder with about C$690 million worth of stock, according to data compiled by Bloomberg.