The Daily Chase: No relief in sight after B.C. disaster; Air Canada exits federal support program

There’s no relief in sight for stranded goods as the disaster in British Columbia exacerbates supply chain problems.

There’s no relief in sight for stranded goods as the disaster in British Columbia exacerbates supply chain problems. The Port of Vancouver is dealing with rail line outages and highway shutdowns. And the government-owned Trans Mountain made it clear that not only is access to the pipeline compromised right now, but even when crews arrive on scene, repair work is waiting for them. We’ll keep chasing insight on the challenges ahead for shippers and consumers.

AIR CANADA CUTS LOOSE FROM GOVERNMENT AID

After lining up almost $6 billion in support from the feds as it navigated the pandemic, Canada’s largest airline is walking away without tapping even half of that amount. Air Canada said today it was exiting the federal support program after having only availed itself of $1.2 billion that was specifically intended to refund tickets that were originally non-refundable.

MARKETS ON EDGE

Major European markets are in the red, futures are pointing to a drop at the start of trading in New York, and crude oil futures have been down more than three per cent amid renewed concern about COVID-19 as some major European nations put lockdowns on the front burner. Austria is shutting things down on Monday and mandating vaccination as of Feb. 1; meanwhile, Germany has raised the prospect of also going into lockdown.

HOW CONSUMERS ARE COPING WITH INFLATION