coronavirus pandemic after new travel restrictions were announced last week. Airlines suspend flights to sun destinations until April 30 amid growing variant concerns The loan agreement, announced Monday, will see Sunwing Airlines Inc.
and Sunwing Vacations Inc. access $375 million under the Large Employer Emergency Financing Facility (LEEFF) – the first Canadian airline to do so.There has been little uptake for the LEEFF since it was first announced in May, with only two other companies – Gateway Casinos & Entertainment Ltd.
and Canumo Resources Ltd. – having been approved for loans under the program.To qualify for the LEEFF, a company must require a loan of at least $60 million and have more than $300 million of annual revenue.