Updated Mar 17, 2026 by PCF Group
People Can Fly Canada Inc. has increased its demand revolving credit facility with the Bank of Montreal from CAD 8.0 million to CAD 11.954 million, effective 15 November 2024.
The unsecured guarantee supporting the bank’s credit exposure has been raised from CAD 9.2 million to CAD 13.154 million to align with the expanded loan facility.
The first-ranking hypothec on PCF Canada’s movable assets has increased from CAD 11.04 million to CAD 15.7848 million to maintain proportionate collateral coverage.
The expanded credit line is specifically designated to pre-finance forthcoming Canadian tax incentives for the subsidiary.
All other contractual terms established in the original financing agreement dated 24 May 2023 remain unchanged following this amendment.
People Can Fly Canada Inc. has increased its demand revolving credit facility with the Bank of Montreal from CAD 8.0 million to CAD 11.954 million, effective 15 November 2024.
The unsecured guarantee supporting the bank’s credit exposure has been raised from CAD 9.2 million to CAD 13.154 million to align with the expanded loan facility.
The first-ranking hypothec on PCF Canada’s movable assets has increased from CAD 11.04 million to CAD 15.7848 million to maintain proportionate collateral coverage.
The expanded credit line is specifically designated to pre-finance forthcoming Canadian tax incentives for the subsidiary.
All other contractual terms established in the original financing agreement dated 24 May 2023 remain unchanged following this amendment.