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Canada grants Delta a large loan

OTTAWA, Aug. 7 (UPI) -- Delta Air Lines' Comair unit will become the first recipient of a new Canadian federal government loan program to stimulate Canada's aerospace sector.

Comair, a Delta feeder and frequent Bombardier customer, will get a hefty loan to buy 10 regional jets from Bombardier, Montreal-based aerospace company, the Globe and Mail reported Saturday.

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The value of the loan, the first of the new Canadian program, will not exceed $250 million, officials said. The interest rate on the loan was not disclosed.

The loan comes at a critical time for Delta, the third-largest U.S. airline, as it seeks $1 billion in concessions from its pilots.

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