Air Canada news: Government sells stake [Video]

Two senior federal government sources have confirmed to CTV News that the federal government has sold its stake in Air Canada.

The news was first reported by the Globe and Mail.

During the COVID-19 pandemic in 2021, the government purchased a six per cent stake in the airline for $500 million as part of a bailout package.

Ottawa’s rescue deal with Air Canada at the time included a $5.9-billion loan from the government to help support the airline after it lost billions of dollars during the pandemic.

As of Thursday afternoon, Air Canada shares closed at $25.28 on the Toronto Stock Exchange, up 23 cents.

CTV News reached out to the federal transport minister’s office and was referred instead to Deputy Prime Minister and Minister of Finance Chrystia Freeland’s office, who has not yet responded.

Last week, Transport Minister Anita Anand told CTV News she was “examining the particular legal …