Air Canada planes are parked at Toronto Pearson Airport in Mississauga, Ontario, Canada April 28, 2021.
REUTERS/Carlos OsorioTop executives at Air Canada (AC.TO) will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April.
Air Canada said chief executive, executive vice presidents and its former chief executive, who retired in February, would return the bonuses and share appreciation units "in order to help address this unintended consequence."
In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds.
"Canadians are right to expect responsible corporate behaviour — particularly with respect to executive compensation — from companies receiving government financial support during the pandemic."
Carlos Osorio, Chrystia Freeland, Omar Alhgabra
Air Canada, Toronto Pearson Airport, REUTERS, Air, Canadian Finance, Thomson
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