Compensation for Air Canada's top executives rose last year as the airline faced significant on-time problems.
• Also read: Punctuality: Air Canada is last in the top 10 in North America
• Also read: Profit of $2.76 billion: Air Canada ended 2023 positively
Salaries, bonuses and benefits awarded to Air Canada's top five bosses totaled more than $23.8 million in 2023, up 7.6% from 2022.
More than $12 million for the CEO
CEO Michael Rousseau received total compensation of nearly $12.1 million, a decrease of 2.4%. Excluding the value of his pension plan, his compensation was $11.7 million, an increase of 2.9%.
Mr. Rousseau was eligible for a performance bonus of $2.6 million, down from $2.3 million in 2022.
Operations manager Craig Landry saw his compensation increase more than 30% to more than $3.8 million.
Craig Landry Photo Air Canada
Human resources director Arielle Meloul-Wechsler's amount rose more than 34% to nearly $2.7 million.
New finance chief John Di Bert earned $3.3 million for eight months of work. He held the same roles at Bombardier from 2015 to 2020.
General Counsel Marc Barbeau received total compensation of nearly $2.1 million in 2023, an increase of 21%.
Earnings rise, inventories fall
In 2023, Air Canada had net income of $2.28 billion on revenue of $21.8 billion. Last year, the Montreal company posted a net loss of $1.7 billion.
However, Air Canada shares fell 2.9% for the year.
Archive photo QMI Agency, Joël Lemay
Keep in mind that the airline faced its customers with numerous flight delays and cancellations throughout the year.
The specialized company Cirium has placed Air Canada last in terms of punctuality in its ranking of the largest North American airlines in 2023.
Only 63% of flights on Canada's largest airline arrived on time last year. Around 140,000 flights landed at least 15 minutes late.
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