NEWS TRAVEL NEWS MONEY CANADA

Air Canada CEO got paid

$12.4 million in 2022 — a
whopping 233% pay increase
National Trending Staff | Apr 10 2023, 8:56 am

@aircanada/Instagram | Air Canada

20
   

If you got a raise last year, chances are it was

nowhere near as much as what Air Canada paid
CEO Michael Rousseau. In 2022, Rousseau
earned $12.38 million — a jump of 233%
compared to the previous year.

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Air Canada has published a 100-page Notice of

Annual Shareholders document detailing
compensation for the company’s executives. The
company received funding from the government,
and part of the clause involved restrictions on
executives’ pay. With those restrictions now gone,
executives saw pay rises of over 100%.

According to the document, in 2021, Rousseau

was paid $3,717,000 in share-based awards,
option-based awards, annual incentive plans, and
pension value. Following the retirement of his
predecessor, Calin Rovinescu, two years ago,
Rousseau took the helm as Air Canada’s chief
executive officer in February 2021.

This year’s numbers mean Rousseau earned

$6,000 per hour and received a monthly payment
of around $1.03 million.

Here’s how much Air Canada’s executives earned

in 2021 compared to 2022.

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Have Your Say.

Leave A Comment Below And
Let Us Know What You Think.

Read All 20 Comments

Com
pens
Name and ation
2021 2022
position incre
ase
by %

Michael
Rousseau,
$12,375,10
president and $3,717,000 233%
0
chief executive
officer
Amos Kazzaz,
executive vice
president and $1,303,900 $3,104,100 138%
chief financial
officer
Lucie
Guillemette,
executive vice
president and $1,083,900 $2,739,600 152%
chief
commercial
officer
Craig Landry,
executive vice
president, chief $1,107,200 $2,932,400 164%
operations
officer
Arielle Meloul-
Wechsler,
executive vice
president, chief $1,062,400 $1,998,500 88%
human
resources and
public affairs

Compensation for Air Canada executives has

been mired in controversy after it was revealed in
2021 that managers had received $10 million of
COVID-19-specific bonuses and special share-
purchase options during the previous year. This
occurred while the company was lobbying for a
bailout and laying off thousands of workers.

“Paying out millions in executive bonuses while

they kick their workers to the curb and ask the
taxpayer to bail them out isn’t just wrong, it’s
morally bankrupt,” said Mark Hancock, the
national president of the Canadian Union of
Public Employees (CUPE), in a release.

As a result of the public outcry, executives

volunteered to return their 2020 bonuses and
stock appreciation units, with then-CEO
Rovinescu stating that he would donate his entire
bonus to the Air Canada Foundation.

The massive pay increases no doubt bring to

question the company’s priorities. The airline has
been in the headlines for missing luggage, poor
customer service, and refusal to compensate
customers for flight delays and cancellations.

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ALL COMMENTS 20 NEWEST

TJ Tim Jones 15 HRS AGO

Don’t forget kiddies that Air Canada also received no

less than $13 BILLION of our tax payer money during
the last few years.
REPLY 0 0 SHARE FLAG

MS Martin Sparkes 1 DAY AGO

I have run three very successful companies. I will do

his job with better results for 3 million a year. Give
me a call.
REPLY 0 0 SHARE FLAG

JO John 1 DAY AGO

Trust me. The bottom of the food chain at this

company are furious at him too. Lol
REPLY 0 0 SHARE FLAG

JO John 1 DAY AGO

This is the same guy that denied the frontline

workers increase in pay because “inflation is not
apparent »
REPLY 0 0 SHARE FLAG

KA Karwan A 1 DAY AGO

The WOREST AIRLINE EVER , everything is WRONG

with them

They don't even know what is CUSTOMER SERVICE

The CEO got PAID OVER 12 MILLION DOLLARS IN

2022 . DOES ANYONE KNOW ABOUT THAT

THEY ARE SO BAD AND I DONT EVEN KNOW WHAT

NAMES TO CALL THEM . BUT AT THE SAME TIME
HOW ARE PEOPLE STILL FLYING WITH AIR CANADA
IS ANOTHER ISSUE.
REPLY 1 REPLY 2 0 SHARE FLAG

MD Mack D 1 DAY AGO

Reply to Karwan A

Because we don't have a damn choice in many

locations. Government of Canada props up this
company and won't do anything to protect the
consumer.
REPLY 0 0 SHARE FLAG

Add your reply

HM happy man 2 DAYS AGO

The Gov should have not support AC during the

pandemic... Let it bankrupt....

Restructuring the company is the only thing to do

REPLY 2 0 SHARE FLAG

PY Paul Yash 2 DAYS AGO

Rich are becoming richer and poor becoming poorer

day by day. Too much gap in wages between front
line workers and top management.
REPLY 4 1 SHARE FLAG

HJ Handel Jaikumar 2 DAYS AGO

This guy should be ashamed of himself. How can he

sleep peacefully at night. He is not worth it given the
awful customer service his company
provides.shame on you
REPLY 3 1 SHARE FLAG

MR Michel Rabu 2 DAYS AGO

Discusing ,NO one is worth that much, I hope his tax

bracket is at 90%
REPLY 1 1 SHARE FLAG

JC John cutler 2 DAYS AGO

What an absolute idiot. A large amount of the

employee groups are due to negotiate new contracts
very soon. Pilots are one of these, and are massively
underpaid compared to their US counter parts. This
screams "we have money to give away". I feel the
concensus is this will cause them big labor issues
as groups as for raises. If they say there is no money,
they have already shown there is by issuing obsurd
raises to the higher ups.
REPLY 1 0 SHARE FLAG

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