MONTREAL—Travel company Transat AT Inc. says it has reached a deal with Ottawa to borrow up to $700 million. The money will come through the federal government’s Large Employer Emergency Financing Facility, the same program used to help Air Canada. “The agreement reached with the government of Canada provides us with an additional $700 million in liquidity, which is the amount we needed to move forward with confidence,” Transat chief executive Jean-Marc Eustache said in a statement Thursday. “Our strong balance sheet prior to the pandemic and the aggressive actions we have taken since have enabled us to weather this unprecedented crisis so far. With this support, we now look forward to resuming operations as soon as safe travel is possible and travel restrictions can be lifted.” Transat said $390 million will be used to help support its business, while $310 million will be used to provide reimbursements to travellers. …
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