The Globe and Mail reports in its Saturday edition that Ottawa will extend a $1-billion loan to Canada Post to keep the Crown corporation afloat as it faces significant financial hurdles, including the maturing of $500-million in bonds that have to be repaid to bondholders in July. The Globe's Vanmala Subramaliam writes that in a statement issued Friday, Public Services and Procurement Canada said it had exercised provisions under the Canada Post Corporation Act to allow the postal service to access $1.03-billion in cash for the 2025-26 fiscal year "to maintain its solvency and ensure it can continue its operations." The PSPC said it extended a lifeline to Canada Post because, despite a recent stamp increase of 25 cents, the corporation will not have enough cash to operate in 2025. Canada Post has been losing billions of dollars over the past five years, owing in part to its dwindling letter mail operations and its inability to compete with low-cost private delivery carriers such as Amazon, FedEx and UPS. The corporation projects that its annual losses will grow from $900-million in 2025 to $1.7-billion in 2029, and it has repeatedly blamed the high cost of labour, including employee pensions, for its financial state.