Air Canada raises nearly C$1.6b amid COVID-19 pandemic

Air Canada said Tuesday it raised nearly C$1.6b through an offering of shares and convertible senior notes to strengthen its cash flow amid the coronavirus crisis. "This important financing will allow us to keep our strong relative position and better manage debt leverage and risk as government restrictions are lifted and the market recovers," CFO Michael Rousseau said. Rousseau said last month Air Canada was seeing fewer cancellations and an improvement in demand for air travel as lockdowns eased.<br/>