In recent days we have all learned that Air Canada CEO Mike Rousseau has received a massive bonus. He received a $2.6-million bonus which is a part of a $12.08-million total compensation package.
Even though Air Canada stock did not perform well this bonus was provided due to the strong financial success of Air Canada in 2023. We believe that the strong financial success that was experienced was due in great part to the contributions of our members.
Each year we wait to see what bonuses will be paid to executives and we compare the salary that they receive with that of the employees. It is not surprising that Canada’s 100 highest-paid chief executive officers — who are overwhelmingly male — were paid an average of $14.9 million in 2022, 246-times more than the average employee wage and setting a record, according to a new report by the Canadian Centre for Policy Alternatives.
This is all being provided at a time when many of our members are struggling to make ends meet and to put food on their table.
This year it was announced that Profit Sharing will be provided to Air Canada employees. It will be very interesting to see how profit sharing is provided and how this compares to that which Mr. Rousseau received.
Of course, we would like to have our members paid a living wage for all hours on duty and many studies indicate the value and the importance of employee engagement and fair wages. If the company were to pay wages that were aligned with the cost of living this would have sent the message that they want our members to enjoy the fruits of their labour. Unfortunately, they did not provide this.
We all know that collective bargaining is just around the corner and understand the importance of this round. After ten years, we are taking our rightful place at the table and seeking fair compensation for all the invaluable work that is provided day to day, night to night, and flight to flight by you the members. In the interim we shall all watch carefully to see what, if any, employee engagement looks like and whether we will see it thrive or whether talk of engagement is just empty words.
In solidarity,
