Ottawa beefs up loans for hard-hit sectors, but big airlines not included for now

Ottawa is rolling out a wave of new funding for pandemic-battered industries including tourism, the arts and regional aviation, with smaller companies top of mind -- and large airlines notably absent. The aid, dubbed the Highly Affected Sectors Credit Availability Program (HASCAP), comes on top of a newly expanded emergency loan program already in place for small businesses, and technically is not limited to certain industries. Meanwhile the devastated tourism sector will have access to one-quarter of the more than $2b that Ottawa is doling out to regional development agencies through June 2021. Rent relief and nearly $700m in capital investments are en route to airports over six years. Another $206m in support is bound for regional aviation, including smaller airlines, via a new "regional air transportation initiative" overseen by regional development agencies. But an aid package targeting big players such as Air Canada and WestJet Airlines remains in the works as talks with Ottawa continue. The regional aviation support comes with question marks, as well. "A regional initiative, what's that?" asked John McKenna, CEO of the Air Transport Association of Canada, which represents some 30 regional airlines. "We have no idea. We have not been consulted. We have no idea what they're referring to," he said. "Never mind new initiatives, try to support the existing services so they survive."<br/>