Air Canada says its senior executives have chosen to return their 2020 bonuses in response to “public disappointment.”
The airline company says in a news release the president and CEO, as well as executive vice-presidents of Air Canada, have volunteered to return their bonuses and share appreciation units.
The statement does not include middle managers, whose bonuses made up more than $8 million of the $10-million bonus program, among those who are volunteering their bonuses.over the multi-million dollar packages handed out to the airline's executives as the company negotiated a federal bailout, calling the bonuses “inappropriate.”
“Air Canada's leadership team is completely focused on Air Canada's recovery from the COVID-19 pandemic and preparations to welcome back furloughed colleagues and travelling customers as soon as possible,” Sunday's statement says. In April, the airline and government agreed to a $5.9 billion loan package that includes money to help refund passenger tickets, but also capped executive compensation at $1 million until 12 months after the loan is fully repaid.
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