Skip to content

Air Canada executives and management were paid $10 million in bonuses along with share purchase options at a time when the company was negotiating a COVID-19 bailout package with the federal government. According to CTV News, executives were awarded the “COVID-19 Pandemic Mitigation Bonus” for their “exceptional performance during this unprecedented period.” The deal reached with Liberal government was called the “liquidity program” and it included $4 billion worth of loans from taxpayers. Additionally, the airline company received a $500 million investment from the government and an additional $1.4 billion loan for customer refunds. “This support comes with strict conditions to protect Canadian travellers, Canadians’ tax dollars and Air Canada’s workers,” said Finance Minister Chrystia Freeland when the bailout was first announced. Early on in the pandemic, Air Canada’s CEO and CFO agreed to forgo their salaries to weather the pandemic. As of last March, Air Canada has shed at least half of its work force and is operating at a loss of $3.8 billion.

Notifications - Subscriptions
Notify of
Oldest Most Voted
Inline Feedbacks
View all comments

Would love your thoughts, please comment.x