CTV: Air Canada gave out $10M in bonuses amid bailout negotiations with Ottawa
Air Canada’s top executives and eligible management received $10 million worth of COVID-19-specific bonuses, as well as special share purchase options to offset base salary cuts over the last year, CTV News has confirmed.
The “COVID-19 Pandemic Mitigation Bonus” was awarded based on management’s “exceptional performance during this unprecedented period,” reads the company’s management proxy circular provided to shareholders.
While the board actually approved $20 million worth of compensation, representing 50 per cent of the annual incentive plan for 2020, half of that amount was dished out.
It came at the same time the federal government was negotiating a major bailout package with the airline.
h/t Joe
How about those Leafs! Was that not their most ignominious defeat yet? I’d feel sorry for Torontonians if I could stop laughing.
Or, as I heard from a WestJet flight attendant while landing in Toronto: “How do you know it’s spring? The Leafs are out.”.
Heard on the radio Monday morning, “The Leafs are inviting 500 health care workers to the game tonight.”
Second commentator, “Cause the Leafs are known to all choke at the same time”
The Leafs losing in the Stanley Cup: a Canadian tradition. There’s a reason they earned the nickname Maple Laffs.
Good to see my tax dollars hard at work.
Yeah, my buddy is a pilot caught in the Transat/Air Canada saga… He is getting by with the CRB “bonus” and by lending a hand to other homeowners in need of help with home repairs. True Canadian spirit. Hope the fat cats overdose on their bonuses.
I hope that they lose their bonuses.
My son is a pilot, with Jazz (Air Canada Express). Hasn’t worked for more than a year, but is still nominally on staff with a much reduced salary (He is a junior FO, which means his full pay is nothing special).
Working as a mechanic.
The economic reset, A la Klaus Schwab and the world elites continue to gourge at the trough, and have no shame in cashing their bonus cheques and watching their portfolios swell.
How many percent reduction in air travel did they have to manage? How many less passegers? What do they work out on a per passenger percentage?
Having flown a lot to my house in B. C., I’m convinced that Air Canada and WestJet are in a competition to see who can offer the worst service. I’ve flown both airlines in the past few years and, to be honest, the only real difference is in their livery, though I’ve found that WJ’s check-in staff tended to be more courteous than AC’s.
The whole idea of the government bailing out any private sector entity, be it an airline, a bank, an automaker, etc, stinks to high heaven…at least it used to before MMT, now I guess they can trow as much funny-funny as they like wherever they like…and they don’t need taxes anymore, either.
This is so wrong. The executives should be cutting back 10% – 15% or more on their salaries, not raking in bonuses.
They’re just copying Jagmeet Singh who is back driving a BMW.
https://mobile.twitter.com/TheophanesRex/status/1398830465189126147
Hey, it’s Canada under the Spawn. Most of our planes are grounded but we can keep the good times rolling cause we’re tight with the Libranos and we kick back a little of whatever they send our way. It’s a great gig. Our head office is in Montreal and we all know that we can do no wrong being from Quebec. And besides, when your from Quebec, the rest of the country owes us and it’s where being corrupt is a cultural entitlement. Just ask the Spawn.
+++John
https://youtu.be/ido6NrjGi2o
Nice to know that all the airfares they confiscated because of this wuhan flu bullshit was put to good use.
Rotten bastards.
Kinda says it all.
Hard to comment on such corruption ,when our effete elites consider it “Business as usual”.
Why are we still part of this morass?
The confederated Kleptocracy of Canada .
Which has served the taxpayer notice.
This means war,to quote Bugs Bunny.
Who ,even as a fictitious critter,is more real that “Common Sense’ amongst Liberals.
Those executives deserve those bonuses, they were hired to do a job* and they do it well.
*It’s like Bombardier, their job is to get loans, subsidies, etc. from the goverment, so the company doesn’t have to produce goods or services people would voluntarily pay for with their own earned money.