Air Canada always seems to have labour disputes from time to time. The government sometimes even needs to intervene the disputes and/or labour strikes, or give financial supports.
This is very frustrating. It costs taxpayers money for the government to deal with Air Canada issue. It also annoys traverlers.
So, I decide to find out how much the executives of Air Canada are making annually!!!
Tell me if most Canadian want higher fees for oversized baggages, over-limit carry-ons, or travel taxes?!?!
**Update: Guess what…starting Octoboer 11, 2011, all passengers on Air Canada to USA will need to pay $25 for the first checked bag and $35 for the second bag. No more free checked luggage. Instead of trimming away executives’ salaries, Air Canada targets the public! No wonder flight attendents and pilots aren’t so pleased!!!
ACE Aviation Holdings
ACE Aviation Holdings Inc. is the parent company of Air Canada and was created as Air Canada emerged from bankruptcy in 2004.
It is a Canadian holding company that provides commercial airline service and technical support for Aeroplan, Air Canada, Air Canada Cargo, Air Canada Ground Handling Services, Air Canada Jazz, Aveos Fleet Performance Inc. (formely know as Air Canada Technical Services), Air Canada Vacations.
Robert Milton – Chairman and CEO of ACE Aviation
Mr. Milton was previously President and Chief Executive Officer of Air Canada and Chairman of Air Canada, Aeroplan Holding GP Inc., ACTS Technical Services Inc. and Jazz Air Holding GP Inc. Having joined Air Canada in 1992 in a consulting capacity, Mr. Milton moved from Senior Director of Scheduling to Vice President, Scheduling and Product Management, Senior Vice President, Marketing and In-Flight Service, Executive Vice President and Chief Operating Officer. Mr. Milton became President and Chief Executive Officer of the airline in 1999. Mr. Milton graduated in 1983 from the Georgia Institute of Technology with a Bachelor of Science in Industrial Management.
| Year | Salary ($) | Share, Option, Incentive ($) | Pension ($) | Other ($) | Total |
| 2010 | 525,000 | 0 | 0 | 0 | 525,000 |
| 2009 | 661,667 | 0 | 143,000 | 13,924,588 | 14,729,255 |
| 2008 | 1,210,000 | 0 | 314,000 | 5,040,474 | 6,564,474 |
The amounts in “Other” column for 2009 reflect (i) the final payment in the amount of $5 million with respect to incentive awards provided for in his employment agreement dated May 12, 2005; and (ii) severance payments and cash in lieu of benefits and perquisite payments in the amount of $7,615,325, and the credit or early vesting of additional years of pensionable service under the SERP (as defined under “Retirement Plan Benefits”) representing a value of $1,275,000 in accordance with the terms of their employment agreements which were in force prior to the termination of such agreements described under “Compensation Discussion & Analysis”. Mr. Milton declined to receive the severance payments referred to in (ii) in cash and elected to receive the estimated after-tax amount in the form of 784,350 Class B shares through the grant and immediate exercise of 784,350 stock options at an exercise price of $5.34.
The amounts in “Other” column for 2008 reflect an incentive award in the amount of $5 million provided for in his employment agreement dated May 12, 2005.
Brian Dunne – President and CFO of ACE Aviation
| Year | Salary ($) | Share, Option, Incentive ($) | Pension ($) | Other ($) | Total |
| 2010 | 693,320 | 0 | 0 | 0 | 693,320 |
| 2009 | 539,487 | 0 | 43,000 | 3,757,927 | 4,340,774 |
| 2008 | 625,000 | 0 | 132,000 | 1,065,625 | 1,822,625 |
The amounts in “Other” column for 2009 reflect retention payments in the amount of $1,171,875; and (ii) severance payments and cash in lieu of benefits and perquisite payments in the amount of $2,300,052 and the credit or early vesting of additional years of, pensionable service under the SERP (as defined under “Retirement Plan Benefits”) representing a value of $286,000 in accordance with the terms of their employment agreements which were in force prior to the termination of such agreements described under “Compensation Discussion & Analysis”.
The amounts in “Other” column for 2008 reflect payment of an amount of $50,000 pursuant to his employment agreement; and retention payments in the amount of $1,015,625.
Sydney John Isaacs – Senior Vice President, Corporate Development and Chief Legal Officer
| Year | Salary ($) | Share, Option, Incentive ($) | Pension ($) | Other ($) | Total |
| 2010 | 657,200 | 0 | 0 | 0 | 657,200 |
| 2009 | 465,817 | 0 | 165,000 | 1,777,994 | 2,408,811 |
| 2008 | 400,000 | 0 | 78,000 | 450,000 | 928,000 |
The amounts in “Other” column for 2009 reflect retention payments in the amount of $750,000; and severance payments and cash in lieu of benefits and perquisite payments in the amount of $903,994 and the credit or early vesting of additional years of pensionable service under the SERP (as defined under “Retirement Plan Benefits”) representing a value of $124,000 in accordance with the terms of their employment agreements which were in force prior to the termination of such agreements described under “Compensation Discussion & Analysis”.
The amounts in “Other” column for 2008 reflect retention payments in the amount of $450,000.
========================================================
Air Canada Executive Salary, Compensations, and Benefits
Calin Rovinescu – President and CEO of Air Canada
| Year | Salary ($) | Share Award ($) | Option Award ($) | Incentive ($) | Pension ($) | Other ($) | Total ($) |
| 2010 | 1,400,000 | 1,392,195 | 0 | 1,601,125 | 156,400 | 0 | 4,549,720 |
| 2009 | 1,053,066 | 0 | 633,410 | 800,825 | 91,000 | 0 | 2,578,301 |
Base Salary: $800,000
Quarterly Milestone Awards: $150,000 per quarter (or $600,000 per year)
Bonus: 100% of basic annual salary with a maximum bonus of 200% of basic annual salary
# of Shares Owned: 275,000
* In addition, pursuant to Mr. Rovinescu’s Employment Agreement, provided that he is still employed by the Corporation on March 31, 2012, he will be entitled to a one-time retention payment of $5,000,000 (the “Retention Amount”).
Michael Rousseau – Executive Vice-President and Chief Financial Officer
| Year | Salary ($) | Share Award ($) | Option Award ($) | Incentive ($) | Pension ($) | Other ($) | Total ($) |
| 2010 | 518,000 | 28,487 | 0 | 519,125 | 156,400 | 0 | 1,222,012 |
| 2009 | 518,000 | 0 | 209,244 | 648,625 | 131,000 | 0 | 1,506,869 |
| 2008 | 513,500 | 155,400 | 0 | 1,200 | 156,000 | 0 | 826,100 |
Base Salary: $518,000
Bonus: 50% of basic annual salary with a maximum bonus of 100% of basic annual salary
# of Shares Owned: 41,000
Duncan Dee – Executive Vice-President and Chief Operating Officer
| Year | Salary ($) | Share Award ($) | Option Award ($) | Incentive ($) | Pension ($) | Other ($) | Total ($) |
| 2010 | 500,000 | 27,497 | 0 | 501,125 | 77,700 | 0 | 1,106,322 |
| 2009 | 376,917 | 0 | 189,089 | 250,825 | 40,000 | 0 | 850,831 |
| 2008 | 391,866 | 0 | 0 | 1,125 | 200,000 | 828,000 | 1,420,991 |
Base Salary: $500,000
Bonus: 50% of basic annual salary with a maximum bonus of 100% of basic annual salary
# of Shares Owned: 5,500
Benjamin Smith – Executive Vice-President and Chief Commercial Officer
| Year | Salary ($) | Share Award ($) | Option Award ($) | Incentive ($) | Pension ($) | Other ($) | Total ($) |
| 2010 | 425,000 | 23,373 | 0 | 426,125 | 76,000 | 0 | 950,498 |
| 2009 | 408,333 | 0 | 156,933 | 348,625 | 151,000 | 0 | 1,064,891 |
| 2008 | 368,750 | 112,499 | 0 | 1,200 | 70,000 | 0 | 552,449 |
Base Salary: $425,000
Bonus: 50% of basic annual salary with a maximum bonus of 100% of basic annual salary
# of Shares Owned: 10,000
* Additionally, in February 2009, a discretionary bonus of $135,000 was paid to Mr. Smith in recognition of his significant contributions to the Corporation and Air Canada Vacations in 2007 and 2008.
David Legge – Senior Vice-President, Operations
| Year | Salary ($) | Share Award ($) | Option Award ($) | Incentive ($) | Pension ($) | Other ($) | Total ($) |
| 2010 | 346,879 | 17,874 | 0 | 325,125 | 288,600 | 0 | 978,478 |
| 2009 | 301,629 | 0 | 78,467 | 71,125 | 326,400 | 0 | 777,621 |
| 2008 | 265,000 | 80,998 | 0 | 1,200 | 111,000 | 0 | 458,198 |
Reference: AIR CANADA NOTICE OF 2011 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS AND MANAGEMENT
The government and AC are paying each other forward,that is how the rich get richer and we the workers,front line, hard working, shift workers,blue collar can never get ahead…we just manage to get by….But you see I never voted for this gov’nt so I have the right to complain…But for those of you who did,and who have the nerve to write comments on all these websites,blogs etc…Shut your mouths and keep your comments to yourself,you have lost that right like every other right we lost with this gov’t….Voted in by YOU!!!!!You two faced *****And if you don’t know anything about politics and/or Ac but you just fly once a year…..Same goes for you!!!!Educate yourselves first before making such incredulous comments….
AC executives and upper mgmt, don’t live in the real world, they feed their greed from the real workers who work the flights, from agents to ground handlers an its them that deserve the wages and money that these leeches get. I say throw them to the wolves and let them get devoured.
The AME’s (Aircraft maintenance engineer) are being paid 69k per year base salary, these same AME’s at west Jet, Air TransAt, First Air etc etc etc are making about 85k per year base salary. Air Canada’s attitude is, if you do not like it, go work for them. The problem is, the young ones are, the future of your operation. The older staff has at a minimum of 30% who can retire today.
You lose 30% of you engineers, you do not fly! But at Ac it is all about executive compensation
Just looked at Westjets excecs. They’re no better than AC’s.
Yes and no. I mean, at least they oversee a company that makes money.
I have no issue of an EXEC making good money if the company he/she operates is making profits and the employees are properly compensated.
At AC the exec wage has risen 1500% since 2001 but the employees have taken pay cuts and no raises in 11 years now
What you don’t know is that there are at least 20 more VP’s at Air Canada!
There are only 5 total at Westjet
Robert Milton created more tiers of management by spinning off so many parts of the company. He and other top executives have milked the company and their employees so they could enjoy a lavish lifestyle. For those of you who feel 12 sick days a year is too much, take a minute to think about a flight attendant. They can’t fly with a cold, a broken toe or finger, taking certain medications, after major dental work. Unlike an office workplace where you can go to mid day if you are feeling better, their airplane leaves and is gone for up to 6 days. So one bad headache could use 6 sick days.Please don’t judge any workers benefits/conditions until you have worked in their industry.
Yes and customer service agents that deal with passengers that arrive from all over the world only have 6 sick days a year. A doctor once told me that we probably come in contact with diseases that they don’t even know about yet in North America. And we have to deal with the poor decisions made by the upper management. We are the front line employees. And usually the last to hear of schedule changes, doing the best we can with a moments notice.
OCCUPY AIR CANADA!!!!!!!!
Real interesting.
Could someone post the salaries etc. of the highest paid FA’s.
they make 40 000$/ year
55 000/ year if they work overtime all the time and wear their body out.
this should be embarrassing to the executives at AC with their workers now fed up
shame shame shame on them
The problem is, they will never be permitted to strike as long as the anti labour Conservatives are in power and Lisa the rat Raitt is minister of labour.
the only real solution to AC’s problems is to close the doors PERMANENTLY! For as long as one exec or senior manager of this present group is around, the problems will exist
in regards to the comment about 12 sick days a year, i worked in techops and we were allowed 3 sick instances, after that you did not get paid for the first day of the 4th instance and this was calculated on a rolling calendar, not a re-set at Jan 1 of each year.
maybe you should start your work day at midnight and be on your feet for 15 hours. Yes, you do have a 4 hour break for rest/sleep if the turbulance will allow this. That recycled air, full of everyone’s germs, gets pretty rough after this amount of time also.
you have to ‘walk in someone’s shoes’ before you can make these comments.
Of course this is disgusting. The problemn is, that most Canadians really admire anybody who can make a buck, even at tne expense of the workers.
These people would be shot in China for example, and righfully so.
Air Canada executives have done nothing whatsoever to gain anything for the shareholders, except for themselves.
Just shows how corrupt Canada is.
THIS IS THEFT. if an employee takes home office supplies, it is theft and they can get fired. What do you call it when the boss takes millions while the employees go a decade without any raise ?! This is extreme greed and arrogance ! This must be stopped.
EXTORSION
That is criminal.
No wonder we pay SO much and STILL they go bankrupt.
The government should step in, bring all their salaries down to what the average Joe gets, and once they have proven (over a few years) that they can keep the ship afloat, then maybe, just maybe, they get a raise or bonuses as insentive.
NEVER should any of them get back to anywhere even close to what they are making now. Certainly not for what they are doing to the company and we, the people.
One word. Digusting. And they have the nerve to take away employee benefits and want to take away more. No raise in 10 years, not even cost of living. They have no shame.They have no respect. We are the ones at fault for putting up with it.The gouvernement lets it happen. You ever wonder why? They only show the upper brass in those charts. Lower managers get those nice bonuses too. They should be stopped.
Air Canada is one of the worst run companies in the world. They have no respect for passengers and use the employees as scapegoats for their louzy policies. The orders always come from the top. The local managers are forced to comply. If they don’t comply then they loose their jobs, even if they know that the upper managements ideas aren’t going to work. Never trust a corperate tyrany, and never empathize with them.
Maybe the top brass should forgo any guaranteed salary and take a percentage of profits?this could potentially be worth mire than they make now and no one could argue it isn’t justified.
Abusive is what it is, front line employees who
Are the face and operations of the company,
Sacrificing salary and benefits for this company
While the top brass( far removed from the customers) take in millions.
Employees don’t book off for more days off ,
They book off because they are exhausted and beat up’
They should post a comparison, ….and newly hired flight attendant makes 18 000
Have to sleep on airport floor
And are paid 4 hours for a duty day of 8hrs!!!
This shouldn’t come as a surprise. For like-sized companies in revenue turnover, executive pay is usually much higher. How many millions would Air Canada save if frontline employees didn’t ‘book off’ whenever they felt like more days off? I would argue millions – problem solved.
Mmmmmmm…
12 sick days a year while working in such a public environmemnt, is that really too much to ask?? Really?
@ thats life, yeah obviously we should condemn front line, blue collar workers, those losers should just stay at work and suffer, or become execs, lazy good for nuthins, be happy you have jobs, it is precisely your kind that makes it OK for CEOs and Corporations to destroy our so-called democracy. you probably voted for Harper and Rob Ford too!!!
12 days a year?? The Customer Service Agents at AC get 6 days a year..this includes sick,family care, Dr appointments, whatever..that s 48 hours a year for people who are in constant contact with the public..
How can anyone feel justified in collecting such a huge amount in compensation while continually taking away from the employees actually ‘earning’ the profits and /or charging increased expenses to clients the ones actually providing the ‘earnings/profits’???!!
There is a point when it is just too much compensation for the service provided. I think that ship has sailed.
Interesting
These executive salaries are obscene. How about getting the executive salaries down to a more realistic level?? Then, Management would then be able to give their employees a decent wage/benefit increase without having the Harper Gov’t legislate the employees back to work?