Treasury Minister Chrystia Freeland expressed concern about Air Canada paying executives a multi-million dollar bonus when Air Canada was negotiating federal bailouts Said
Freeland is disappointed by some companies that appear to be not acting as responsible corporate citizens, while receiving federal assistance funded by taxpayers to survive the pandemic. Is called.
In April, the airline and government agreed on a $ 5.9 billion loan package that included funding to help passenger ticket refunds, but with executive compensation up to 12 months after the loan was fully repaid. Limited to $ 1 million.
The government also paid $ 500 million for a 6% stake in the country’s largest airline.
Air Canada said in its annual power of attorney for shareholders that investors have offered a $ 10 million bonus to those who have stated that they have contributed to the survival of the airline over the past year.
In a telephone conversation with reporters, Freeland detailed a new federal program for qualified companies to rehire employees who were dismissed by taking on part of their salary.