The colossal losses suffered by Air Canada in 2020 and the massive layoffs did not prevent the executives of the airline from paying themselves $ 20 million in “incentive bonuses”.
• Read also: Special $ 20 million bonuses for Air Canada executives
An indecent way of doing things judges political analyst Emmanuelle Latraverse during her segment on the Mario Dumont show. “It’s indecent for a company that has laid off 21,700 workers,” she says at the outset.
These bonuses that executives can grant themselves can normally reach up to $ 45 million when performance objectives are met.
How is it that Air Canada executives can be entitled to such bonuses when they certainly did not achieve their objectives with losses of $ 4.7 billion?
“What objectives have been achieved? Succeed in negotiating $ 650 million in wage subsidies? Succeed in negotiating $ 5.6 billion in public funds to support the company? ” questions Emmanuelle Latraverse.
In addition to these questions, what is particularly worrying is that the program of wage subsidies to companies had a sine qua non condition: that the money not be used to pay bonuses to executives.
To get to give yourself bonuses, a stratagem had to be put in place: “the added value of action”.
“So you have the Air Canada executives saying that ” it’s difficult, that we are going to lower our salaries ”, but through the back door, they are taking money back, they are going to dip into the wage subsidy and they get a subsidy from the government. At one point, yes it is indecent, and there are answers to be given from the government: ” did it do everything it took to ensure that the agreements on the lack of bonuses are respected? ”
*** See his full intervention in the video above. ***