Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeTransportationAirlinesWestJet slams Canada's loan offer to airlines hit by fuel costsEligible Canadian airlines may request repayable liquidity support in order to 'maintain operations and jobs, and preserve a competitive airline sector'Last updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.The Calgary-based company “strongly opposes” Canada’s plan to lend as much as $150 million to blunt the effect of high airline fuel prices, it said in an emailed statement Monday. Photo by POSTMEDIA FILEWestJet Airlines Ltd. condemned the Canadian government’s offer of loans to help carriers hit by high jet fuel costs in the wake of the closing of the Strait of Hormuz.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Calgary-based company “strongly opposes” Canada’s plan to lend as much as $150 million to blunt the effect of high airline fuel prices, it said in an emailed statement Monday.The federal government announced that eligible Canadian airlines may request repayable liquidity support in order to “maintain operations and jobs, and preserve a competitive airline sector.” In April, it suspended its fuel excise tax, including on aviation fuel, until Sept. 7.“We do not take government loans and instead advocate for a competitive environment where airlines can succeed based on their own strength,” WestJet said in a statement that drew a parallel with COVID-era loans, some of which were written down by the government.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn an apparent reference to the trade war, WestJet also said Canada “should stay away from distorting markets, both within our country and across the border to the U.S., especially at this sensitive time between our nations.”Transat AT Inc., the Montreal-based company that owns Air Transat, has restructured emergency government loans it took on during the pandemic.Last month, Transat said soaring fuel prices cost it an extra $70 million over March and April. It said it’s reviewing the new loan program’s terms, as did Porter Airlines, which said aircraft fuel has doubled in price since the start of the year.Air Canada, the country’s largest airline, said it has “a very strong balance sheet built in anticipation of events such as the recent spike in fuel prices,” and that it is “able to adapt in response and manage this situation.” The company suspended full-year financial guidance in May due to fuel costs.Low-cost challenger Flair Airlines Ltd. welcomed the government’s intervention.With assistance from Thomas Seal Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.