After starting the year with a $1-billion federal loan, Canada Post said it will need another bailout by early 2026 as the Crown corporation bleeds cash, putting it on track for its worst fiscal year yet.

It reported the highest quarterly loss in its history Friday, as the beleaguered mail service contends with stiff competition for parcel delivery and disruptions from an ongoing labour dispute.

Read more: • Canada Post expects to lose 30K employees to retirement, voluntary departures by 2035 • Canada Post submits overhaul plan to the federal government • Canada Post cutting jobs as part of restructuring started earlier this year

The loan of $1.03 billion from Ottawa in January “was meant to carry the corporation through the government of Canada’s fiscal year ending March 31, 2026

See Full Page