Canadians are being told not to expect any of the billions in federal loans to Canada Post to be paid back anytime soon, with executives admitting the Crown corporation won’t stabilize its finances for years.According to Blacklock's Reporter, CEO Doug Ettinger told MPs on December 11 that the latest federal loan package merely keeps the postal service afloat until 2030. “We know our financial situation is unacceptable,” he said during testimony at the Commons government operations committee.Ottawa approved a $1.034 billion line of credit in 2025 to cover mounting losses, followed by a second $1.008 billion loan after the first billion was burned through in just 11 months. According to a cabinet order, the second loan was required simply “to pay all its operating and income charges.”.Chief financial officer Rindala El‑Hage confirmed the cash was gone. “We ran out of the cash injection this month,” she told MPs. When asked by Conservative MP Kelly Block whether taxpayers could expect repayment, El‑Hage replied: “The cash injection is repayable,” though she offered no timeline.Canada Post’s financial picture continues to deteriorate. The corporation reported $989 million in pre‑tax losses in the first nine months of 2025, putting it on track for its eighth straight year in the red. Internal projections say 2025 will mark the largest annual loss in the organization’s history.Management submitted a confidential cost‑cutting plan to Public Works Minister Joel Lightbound last November. While the report remains secret, Lightbound has repeatedly pressed the corporation to “cut the fat” and overhaul its management structure.“I expect management to do its job and come back with a serious plan,” Lightbound said last fall, adding that Canadians deserve reliable service “at a reasonable cost.” He noted the postal service is currently losing $10 million a day.
