Furthermore,
Two -speed salary increases air new: Moreover. Moreover,
Two -speed salary increases air:
Air Canada no longer had the choice: after having granted staggering salary increases from 50 to 70% since 2015 to its managers. Meanwhile. Consequently, its senior management had to improve the offer to on -board agents, whose collective agreement has been released since March.
While the leaders were enriched, the on -board agents, on the other hand, saw their hourly wage climbing only 19.5% in nine years – well below inflation, which reached 27.3% over the same period. Consequently, An iniquity that has become impossible to ignore.
$ 10 million more for the five bosses
During this same nine year period. Nevertheless, the overall remuneration of the five members of the High Management of Air Canada exploded by 62.1%. Furthermore, It jumped $ 10 million, from $ 16.1 million in 2015 to two -speed salary increases air new $ 26.1 million in 2024.
On its own, the two -speed salary increases air annual remuneration of the president and chief executive jumped by $ 5.24 million, or 73%.
Indeed, the current CEO, Michael Rousseau, received in 2024 a total remuneration of $ 12.43 million, while it was a remuneration of $ 7.19 million for the former CEO Calin Rovinescu in 2015.
54% more for the board of directors
During this nine -year period. Therefore, the members of the Air Canada Board of Directors saw their basic fees increase by 54%, from $ 168,750 (in 2015) to $ 260,000 (in 2024).
We therefore speak here of an appreciable annual increase of $ 91. 250 per head of administrator to attend meetings of the board of directors of the company.
Pinottes for on -board agents
The full -time on -board agent (75 hours guaranteed per month) wins at his. first year two -speed salary increases air new of service $ 30.02 per hour since 1is April 2024, when it was $ two -speed salary increases air 25.13 for the on -board agent who started his career in April 2015.
This gives it a minimum annual salary of approximately $ 27,018, or $ 4401 more than in 2015 (+ 19.5%).
At the top of the ladder of on -board agents. in their 10th year at Air Canada, the hourly wage is currently $ 63.07, for an annual income of some $ 56,763 in the case of full -time on -board agents. It is $ 9,279 more than in 2015 (+ 19.5%).
Important fact to note: at first glance, the hourly rate may seem high. But you should know that this hourly rate only applies for working hours in flight.
On -board agents. with some exceptions. are not paid outside the said flight hours, even if they perform tasks two -speed salary increases air new in preparation for the flight.
On -board agents are fed up with this volunteer work they do as part two -speed salary increases air. of their work at Air Canada.
This is why they are rightly due to being paid properly for all hours necessarily done when they are. at work.
Shareholders
Like the Legault government. which had fired in the foot by increasing the salary of deputies by 30% just before the start of negotiations for the renewal of collective agreements in the public sector. the management of Air Canada, for its part, found a way to get out of the corporations of the company $ 1.3 billion to buy in 2024 and 2025 some 62.4 million shares of the company, withdraw them from the stock market.
The purpose of this vast public buyout operation: restore value to Air Canada’s action in order to allow it. to appreciate.
The two -speed salary increases air new catch? Going out of such a sum of the company’s chests. the senior management clearly suggested that the company had solid kidneys. that two -speed salary increases air it was very profitable.
It was written in the sky that Air Canada agents were going to jump at the opportunity to demand. rightly, better remuneration. Especially since for the past nine years, they had undergone a solid loss of purchasing power.
Air Canada financial assessment
From 2015 to 2024
Income: 22.3 billion (+ 60.4%)
Net profit: $ 1.7 billion (+ 452%)
Effective (full time): 37,100 (+ 49%)
Market value: $ 5.75 billion (+ 74.2%)
Net debt: $ 4.9 billion (- 22.2%)
Two -speed salary increases air new
Two -speed salary increases air
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