Air Canada Executive Officers Salary and Benefits

Air Canada Executive Officers Salary and BenefitsAir 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

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44 Responses to Air Canada Executive Officers Salary and Benefits

  1. calin associate on 2016/03/18 at 5:07 pm

    I have worked at AC for 25 years, they have no respect for employees and especially the passengers while these top management goons are robbing millions and billions from you and me, the Canadian governement is allowing all this to happen. Be it in the US Robert Milton would have sued and quartered yet he is enjoying his rich lifestyle in an mansion in the UK while Calin Rovinescu is preparing his. I CALL THIS ORGANIZED CRIME.

  2. Trey on 2016/02/23 at 4:03 am

    Bunch of thieves and they wander why people are so un happy with this company… I hope they rot in hell… and they still want to come charge people for bags.. can you imagine the nerve you book a flight to an international destination and you are not allowed one bag to travel…

  3. KIRAN on 2013/03/16 at 7:54 am

    Rather then complanning here why don’t you guys find another job. NO ONE IS HOLDING A GUN TO YOUR HEAD AND FORCING TO WORK AT AC.

  4. worker on 2012/08/17 at 8:45 pm

    Americans are taking over a lot of Canadian companies and robbing them blind!!!!!

  5. Kathy on 2012/08/16 at 3:58 pm

    There should be an overhaul on the board level as I imagine it is the Compensation Committee that approves the AC Executives salaries!

  6. elaine on 2012/08/11 at 3:06 am

    milton is nothing but a thief

  7. CalinisAnutsack on 2012/03/07 at 3:34 am

    how bout we hire some professional hitmen or deal with these cronies ourselves once and for all?? Do a nice cleaning of all upper mgt/senior execs..The amount of greed exhibited stupifies me..What the f*** are you going to do with all that money when your dead rotting in hell? Quite frankly, as stated previously, if this was not corrupt Canada but maybe some “third world” country, these motherless inbreds would have been shot execution style along time ago! What do they deserve incentives and bonuses for? The airline did not make a profit and if they did why arent the employees getting what is rightfully theirs? Word of advice to the Harper Govt>>keep supporting the corporations and watch how it will backfire on you..You can only push people so far..Everyone has their limits..Words from the legendary Tupac Shakur: “I ain’t a killer but don’t push me..Revenge is like the sweetest joy next to getting puss*”

  8. MoH on 2012/03/01 at 12:37 pm

    This is exactly why I left AC in 2009. This constant struggle between those who do and those who get paid. You need to realize one thing people, you are only a number, a fluctuating one. The lower your number the happier the bean counters and management will be.
    In closing you have to remember that most of this “problem” started when AC was taken over by Canadian Airlines….I mean when AC bought 12 Billion dollars in debt, Robert Milton and our UNIONS, sold us out!

    • James McQueen on 2012/03/18 at 11:57 pm

      what do you mean unions sold you out? It was Air Canada attempting to eliminate competition when they bought Canadian Airlines, and the unions had no say it that, as it was a Board decision, just before they filed for bankruptcy, but not before the executives demanded concessions from their employees.

      I had a friend at the time that was working for Canadian Airlines and he lost his job when Air Canada took them over.

    • Carol on 2012/05/12 at 3:33 am

      First of all it was the “Liberal” government who put the pressure on AC to ‘buy’ Canadian Airlines. They didn’t want to deal with all the mess Canadian exec’s made of their airline and the fallout of thousands of unemployed. Why didn’t AC just wait for Canadian to fail or fix their own problem. AC was doing ok and didn’t need to incur the debt of Cnd. There were just as many AC employee’s who lost their jobs in ’03 (I was one of many). We were the only group with no union and after 17 years was told it was the end for me. Unfortunately I found out people who had only a few years seniority were kept on and worked in the same office. (Some were Cnd employees). I guess I was getting too close to retirement eh? I loved working at AC and had many friends but this mgmt decision was just wrong in so many ways.

  9. natalie on 2012/02/05 at 9:25 pm

    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….

  10. george on 2012/02/05 at 9:03 pm

    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.

  11. Under paid AME on 2012/02/04 at 2:52 am

    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

  12. Peter on 2011/10/19 at 5:36 pm

    Just looked at Westjets excecs. They’re no better than AC’s.

    • SDR on 2011/12/17 at 5:34 pm

      Yes and no. I mean, at least they oversee a company that makes money.

    • Under paid AME on 2012/02/04 at 4:01 am

      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

    • Zarb on 2012/02/14 at 6:04 pm

      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

    • Ohsotired on 2012/03/01 at 11:44 pm

      I don’t understand how the executive of any company can earn incentives when they are losing money. Your paycheque is your incentive! I guess at AC they consider it payment for not losing as much money but that payment comes directly from their employees pockets. WJ makes a profit. Their employees are well paid and well taken care of. Yes WJ’s executive is paid well but again – the company makes a profit – which it shares with its employees. I am saddened by the way AC treats its employees and the way the Canadian government supports the companies treatment of their employees. Just so wrong.

  13. Linda on 2011/10/19 at 5:03 pm

    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.

    • It's Me on 2012/02/15 at 3:40 pm

      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.

  14. K. Thompson on 2011/10/19 at 12:45 am

    OCCUPY AIR CANADA!!!!!!!!

  15. Billiards on 2011/10/18 at 7:25 pm

    Real interesting.
    Could someone post the salaries etc. of the highest paid FA’s.

    • Gene C on 2011/10/19 at 4:32 pm

      they make 40 000$/ year
      55 000/ year if they work overtime all the time and wear their body out.

  16. can I have a sickbag on 2011/10/18 at 4:34 pm

    this should be embarrassing to the executives at AC with their workers now fed up
    shame shame shame on them

    • Under paid AME on 2012/02/04 at 2:13 pm

      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

  17. bob on 2011/10/01 at 2:55 pm

    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.

    • M. Williams on 2012/02/15 at 5:41 pm

      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.

  18. Jack Quinn on 2011/10/01 at 4:06 am

    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.

  19. phil on 2011/09/28 at 10:42 pm

    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.

    • Under paid AME on 2012/02/04 at 2:10 pm

      EXTORSION

  20. Allan on 2011/09/23 at 10:48 am

    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.

  21. manuel ruiz on 2011/09/22 at 9:12 pm

    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.

  22. dylan on 2011/09/22 at 1:09 am

    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.

  23. Casey on 2011/09/21 at 12:27 am

    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.

  24. Tj on 2011/09/15 at 9:09 pm

    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’

  25. J. on 2011/09/15 at 4:52 pm

    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!!!

  26. Thats Life on 2011/09/15 at 4:43 am

    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.

    • Middle-class working mom on 2011/09/15 at 6:36 pm

      Mmmmmmm…
      12 sick days a year while working in such a public environmemnt, is that really too much to ask?? Really?

    • REALISTICALYL SPEAKING on 2011/10/19 at 2:57 pm

      @ 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!!!

    • DG on 2011/10/20 at 9:11 pm

      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..

    • Bailey on 2012/08/19 at 12:03 pm

      How does AC save money if an Employee does not call in sick?? Anyone that calls in sick is not covered on the roster, the airport staff works short handed. Have you ever sat on a flight while they “wait for a gate” ?? You are actually waiting for the next available Agent or Ground Crew to meet that flight. Only Pilots and Flight Attendants are replaced with a Reserve Crew when one of them calls in sick.

  27. Disgusted on 2011/09/14 at 3:13 pm

    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.

  28. Isabelle Chaine on 2011/09/14 at 3:14 am

    Interesting

    • antoinette stirling on 2011/10/13 at 6:37 pm

      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?

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