RE:Marc Garneau speech to Montreal now !...« Canada’s transportation system in 2030 will be increasingly electrified, supporting alternative fuels like hydrogen, increasingly using rail and renewable fuels in more efficient planes like the C-Series. To ensure Canada’s auto sector, aerospace sector and others remain strong, Canada must be on the leading edge of that change. Canada must invest today in that transportation sector of the future. ...«
At the same time, we will set the conditions for lower fares and increased competition by changing the rules on ownership in Canada’s passenger airline industry. International companies will be able to own 49 per cent of an airline in Canada – up from the current 25 per cent, but a single foreign investor, or combination of foreign investors, will be capped at a maximum of 25 per cent.
This will lead to more options for Canadians, and allow the creation of new, ultra-low cost airlines in Canada.
Consistent with this, I am happy to announce today that two companies will immediately benefit from these new criteria. While I pursue the legislative amendments necessary to complete these changes, I will issue exemptions to two companies, Canada Jetlines and Enerjet, to allow them to immediately pursue increased investment, with appropriate conditions. This is a concrete example of increased services that could become available to Canadians.» ...