"The federal government is making more than $1 billion available to Canada Post in the form of a repayable loan to help the beleaguered Crown corporation remain solvent and keep its services running. The $1.01 billion would be provided as needed and is described as a short-term financial bridge. The new sum is in addition to $1.03 billion from Ottawa announced in January 2025."
"The federal government said the latest temporary support is to ensure service is maintained while the organization initiates reforms to make it viable in the long term. Canada Post said in an emailed statement on Saturday that it continues to deal with "significant financial challenges" and that it has submitted its proposed transformation plan to the federal government and is working to finalize it."
The federal government will provide a repayable $1.01 billion loan to Canada Post as a short-term financial bridge. That amount is additional to $1.03 billion announced in January 2025. Canada Post has accumulated significant losses in recent years and requires a clear plan to restore long-term stability. In November the Crown corporation said it would need another bailout because the January funds were expected to be exhausted by the end of 2025. The temporary support is intended to maintain service while the organization initiates reforms. Canada Post has submitted a proposed transformation plan and is finalizing it while addressing significant financial challenges. The corporation said it needed access to short-term financing for the next 12 months.
Read at www.cbc.ca
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