Mr. Speaker, on October 25 the Minister of Transport announced a $75 million loan guarantee to Canada 3000. In exchange for the loan, it was mandated that Canada 3000 implement broad restructuring. This morning the Canadian Industrial Relations Board blocked the implementation of that restructuring plan. The president of the airline has said that the airline will run out of cash within 48 hours unless it has access to that loan guarantee.
Why has the Minister of Transport approved a loan guarantee for Canada 3000 that it cannot access knowing that this decision was coming?