Canada waiving ground lease rents for airports, worth C$330 million in relief

OTTAWA, March 31 (Reuters) - Canada will waive ground lease rents for airports until December 2020, providing relief worth C$331.4 million ($233.4 million) to help the air transport sector deal with the coronavirus outbreak, Ottawa said.

“This support will help airports reduce cost pressures and preserve their cash flow,” the finance department said in a release issued late on Monday.

The arrangement covers the 21 airport authorities that pay rent to the federal government. Ottawa will also provide similar relief for Toronto’s city center airport, which operates on land owned by the Toronto ports authority.

$1-$1.42 Canadian Reporting by David Ljunggren; Editing by Bernadette Baum