‘Michael Rousseau … not paid enough.’ Air Canada CEO’s pay skyrockets, plus other letters to the editor for April 12
: I read with extreme surprise that Air Canada’s CEO received a bonus at all in 2022, let alone a 233-per-cent raise over 2021.
I don’t know the criteria or benchmarks for assessing CEO bonuses at airlines, but I would assume that one of them would be on-time flight performance. A 2022 report from aviation analytics firm Cirium shows that Air Canada’s on-time performance last year was just over 54 per cent, ranking last of 10 North American airlines. I know the last two years have been difficult for the travel business, but the top nine airlines globally had on-time rates of more than 80 per cent.
Operational goals and customer satisfaction should be baked into all senior executive compensation packages. By the way, Air Canada still lost money in 2022 , but less than originally forecast.I was an Air Canada pilot for 30 years, as well as chairman and CEO of two public companies with equity just under $1-billion. The two toughest jobs in an airline are CEO and director of flight operations – two positions that should deserve high compensation.
The general public has no idea of the work and skill required to fill those positions, with hundreds of aircraft online and thousands of pilots, mechanics, flight attendants, boarding agents and other behind-the-scenes personnel all working as a team. Putting that one machine on the gate, loaded and departing on time is a real job.
Also keep in mind the billions of dollars involved in Air Canada as an absolute requirement to Canada’s financial well-being; Michael Rousseau and his flight director are not paid enough.
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