Air Canada says senior executives to voluntarily return 2020 bonuses

Air Canada says its senior executives have chosen to return their 2020 bonuses in response to “public disappointment.”

The company says in a news release the president and CEO, as well as executive vice-presidents of Air Canada, have volunteered to return their bonuses and share appreciation units.

Former president and CEO Calin Rovinescu, who retired in February 2021, says he will also donate his share to the Air Canada Foundation.

Last week, Finance Minister Chrystia Freeland signalled her displeasure over the multi-million dollar packages handed out to the airline’s executives as the company negotiated a federal bailout, calling the bonuses “inappropriate.”

She called the move by Air Canada’s top executives to repay their 2020 bonuses and share appreciation units a step in the right direction.

Middle managers are not among those giving their bonuses back. Their bonuses accounted for $8 million worth of the $10 million packages.