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Bonuses

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

NDP MP Bev Desjarlais is calling the recent announcement of $42 million in pay bonuses to Air Canada's CEO, Robert Milton, and Chief Restructuring Officer, Calvin Rovinescu, an insult to Air Canada's employees, passengers. and shareholders. "Air Canada cannot expect employees to accept wage cuts, shareholders to race financial loss, and passengers to endure long waits and service reduction to smaller communities while top executives collect million dollar windfalls," said Desjarlais. "Deals like this highlight the pressing need for better protection in the interest of Canadian employees and small creditors." Milton and Rovinescu will reap a substantial reward while employees are forced to have their wages cut and their pensions endangered, said Desjarlais. This is one more example of the double standards and backroom deals that have characterized the current Air Canada restructuring process, she added. Air Canada has cut over 11,000 jobs since its takeover of Canadian Airlines in 2000, and has outstanding payments to the employee pension plan totalling $1.5 billion. "Not only are Milton and Rovinescu being rewarded for failure, but it's insulting to employees who have given Air Canada $1.1 billion in concessions," said Desjarlais.