Feds greenlight $673 million to keep Canada Post afloat this year
Canada Post will use the federal funding to cover operating needs through next March as it advances a five-year conversion plan.
- On Friday, the federal government authorized up to $673 million to keep Canada Post afloat, allowing the Crown corporation to meet its operating and income demands through next March.
- Canada Post faces significant financial pressure, reporting an unprecedented $1.57 billion loss before tax in 2025, prompting Ottawa to mandate transformative changes ensuring service sustainability.
- Modernization efforts include converting nearly four million addresses to community mailboxes, with 136,000 addresses transitioning in the first phase this year to reduce door-to-door reliance.
- Thirteen communities across Canada will transition to centralized mailboxes this year, launching a five-year national conversion plan to phase out home mail delivery services.
- Carleton University business professor Ian Lee suggests the postal service will likely require hundreds of millions more to survive the year, given its unprecedented financial deficit.
38 Articles
38 Articles
By 2025, Canada Post had suffered a loss of $1.57 billion and received more than $2 billion in assistance to cover its deficit activity.
The Toronto Star
Feds greenlight $673 million to keep Canada Post afloat this year
OTTAWA - The federal government is handing hundreds of millions of dollars to Canada Post to keep the money-bleeding mail service afloat for the current fiscal year.
Insolvent Canada Post gets another $673 million bailout
Subhead:Canada Post reported a staggering $1.57 billion loss before tax in 2025.# The federal government is handing Canada Post up to another $673 million in taxpayer money after the Crown corporation admitted it cannot pay its bills — even as provinces and municipalities have spent months building contingency plans around repeated postal disruptions. An April 30 order-in-council authorized Ottawa to provide Canada Post with whatever funds are…
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