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Air Canada paid $10M in COVID-19 bonuses to top execs while negotiating gov’t rescue plan

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Air Canada paid its top executives and managers a combined $10 million in bonuses tied to the COVID-19 pandemic late last year, despite the airline losing billions of dollars and cutting thousands of jobs in 2020.The bonuses, which were outlined in the airline’s annual proxy circular to shareholders, came with special stock rewards that were meant to compensate those executives for salary cuts they took as the pandemic wreaked havoc on the travel industry.

Yet they also came as Air Canada was negotiating a multibillion-dollar rescue package with the federal government — one that caps future executive compensation.The airline justified the bonuses and stock awards to shareholders by saying the senior executive team “reacted urgently,.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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