{"id":807617,"date":"2026-07-17T10:09:11","date_gmt":"2026-07-17T10:09:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/807617\/"},"modified":"2026-07-17T10:09:11","modified_gmt":"2026-07-17T10:09:11","slug":"gn-declines-option-to-buy-minority-stake-in-canadian-north","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/807617\/","title":{"rendered":"GN declines option to buy minority stake in Canadian North"},"content":{"rendered":"<p class=\"byline\"><a class=\"category business\" href=\"https:\/\/nunatsiaq.com\/tag\/business\/\" rel=\"nofollow noopener\" target=\"_blank\">Business<\/a>\u00a0\u00a0Jul 16, 2026 \u2013 5:30 pm EDT<\/p>\n<p class=\"subhead\">Territory decides it can meet air service goals in other ways<\/p>\n<p>                                                    <a class=\"thumbnail\" href=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/07\/Canadian-North-737-photo-credit-Mark-Taylor-1-1536x1026-1.jpg\" title=\"GN declines option to buy minority stake in Canadian North\"><br \/>\n                                <img loading=\"lazy\" width=\"1536\" height=\"1026\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/07\/Canadian-North-737-photo-credit-Mark-Taylor-1-1536x1026-1.jpg\" class=\"attachment-full size-full wp-post-image\" title=\"\" aria-hidden=\"true\" alt=\"\" decoding=\"async\"  \/>                            <\/a><\/p>\n<p class=\"wp-caption-text\">The Government of Nunavut has decided not to exercise its option to buy a minority stake in Canadian North, saying it can achieve its air transportation goals without an equity investment. (File photo)<\/p>\n<p class=\"author custom\">By Nunatsiaq News <\/p>\n<p>The Government of Nunavut will not become a minority owner of Canadian North after concluding it can meet its air transportation objectives without purchasing an equity stake in the airline.<\/p>\n<p>The decision, announced by the GN in a Wednesday news release, ends a year-long review of an option negotiated as part of the territory\u2019s 10-year Commercial Airline Travel Services Agreement with Winnipeg-based Exchange Income Corp.<\/p>\n<p>In its statement, the government said it found that providing \u201creliable, affordable, transparent, and sustainable air services\u201d for Nunavummiut can be achieved in other ways.<\/p>\n<p>Exchange Income Corp., which owns Canadian North, bought the company from Makivvik Corp. and Inuvialuit Regional Corp. for $205 million in February 2025.<\/p>\n<p>The option for the GN to buy in was negotiated when the agreement was signed last July. The government had one year to decide whether buying a minority interest in the airline would help advance the territory\u2019s\u00a0long-term transportation goals.<\/p>\n<p>Premier John Main declined to comment on this story. Transportation and Infrastructure Minister George Hickes was unavailable.<\/p>\n<p>The decision does not affect the existing 10-year agreement, which covers government-funded medical travel, family services travel, duty travel and freight services throughout Nunavut, the release said.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" href=\"https:\/\/nunatsiaq.com\/ads\/260626-legislative-assembly\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" width=\"373\" height=\"331\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/07\/1784282951_153_A-14783.94.gif\" class=\"no-lazy-load wp-post-image\" title=\"\" aria-hidden=\"true\" alt=\"\"\/><\/a><\/p>\n<p>The government also said it will work with Exchange Income Corp. to improve the air transportation in Nunavut.<\/p>\n<p>\u201cThis speaks to the trust the Government of Nunavut has in EIC to deliver this essential service to their constituents,\u201d the company said in a statement Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"Business\u00a0\u00a0Jul 16, 2026 \u2013 5:30 pm EDT Territory decides it can meet air service goals in other ways&hellip;\n","protected":false},"author":2,"featured_media":807618,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[49,48,295,66],"class_list":["post-807617","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-ca","tag-canada","tag-environment","tag-science"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/807617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=807617"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/807617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/807618"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=807617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=807617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=807617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}