Nunavut Declines Minority Stake in Canadian North

Exchange Income Corporation (EIC) announced that the Government of Nunavut has decided not to exercise its option to acquire a minority equity interest in Canadian North.

The territorial government said it believes its objectives of providing reliable, affordable and sustainable air services can be achieved through its existing partnership with Canadian North without taking an ownership stake. EIC said it will continue working with the Government of Nunavut under their Commercial Airline Travel Services Agreement to support essential air services and future demand across Canada’s North.

The company added that it remains committed to investing in Canadian North and collaborating with the territorial government to strengthen long-term connectivity and support anticipated growth linked to Canada’s northern sovereignty and security initiatives.