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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (107746)	6/1/2021 7:32:18 AM
From: Goose94	Read Replies (1) \| Respond to of 202372

Air Canada (AC-T) money-gushing gave its executives and managers $10-million in "COVID-19 pandemic mitigation bonuses" and handed out other special stock awards that were designed to compensate them for salary cuts the airline announced publicly during 2020. The extra compensation -- revealed in Air Canada's annual proxy circular -- came as the airline negotiated a multibillion-dollar bailout with the feds. The $5.9-billion rescue plan, announced in April, included limits on executive compensation in the future. During the pandemic, Air Canada also took $656-million from the Canada Emergency Wage Subsidy program in 2020, a larger number than any other company has disclosed. Air Canada's board explained the compensation decisions by saying the company's senior execs "reacted urgently, decisively and skillfully to mitigate the impact of the COVID-19 pandemic on the company," taking measures that included reducing its staff by 20,000. And with equal vigour, the leadership team played offence," Air Canada said in the circular, including "industry-leading personal safety and sanitary measures" and investments in technology and aircraft.