Air Canada (AC) is the largest airline and flag carrier in Canada. Along with its subsidiaries, Air Canada Cargo, Air Canada Express, Air Canada Jetz, and Air Canada Rogue, the group owns over 350 aircraft and flies to nearly 200 destinations, domestically and internationally. Besides its auxiliary carriers, the group also runs Air Canada Vacations and is a member of the Star Alliance.
The Quebec-based carrier is a revered player in the North American skies and was recently rated as Skytrax’s best airline in the region for 2024, alongside scooping four other prizes. In 2023, Air Canada also pocketed a net income of CA$2.2 billion (approx. US$1.5 billion) in what was one of their most profitable financial years and a step in the right direction in attempting to recover from the losses caused by travel restrictions worldwide during the coronavirus pandemic.
At the heart of the group’s operations is Michael Rousseau, who has been associated with Air Canada for close to 20 years and has been their chief executive offer (CEO) for four years. Here is everything you need to know about the man who continues to propel them forward, as well as how much his expertise earns him in salary, bonuses, and additional stock options.
Photo: Star AllianceWho is Air Canada CEO Michael Rousseau?
Michael Rousseau is a graduate from York University alongside being one of Canada’s best certified public accountants for over 40 years. He has held executive roles with some of the country’s biggest companies, such as retailer Hudson’s Bay Company, Moore Corporation, Silicorp Limited and UCS Group, besides being a director aboard numerous other corporates.
As far as his experience in the airline and travel industry in concerned, Rousseau has been a part of Air Canada since 2007. For more than a decade, he oversaw and lead the strategies for AC in a number of senior roles for the flagship carrier as well as its auxiliary arms. In 2019, he became the deputy chief executive officer as well as the chief financial offer with the organisation.
Thereafter, since 2021, Michael Rousseau has been the CEO of Air Canada and is a board member of the International Air Transport Association. In December 2024, he was also named as the chairperson of the Star Alliance Chief Executive Board, in which he succeeded counterpart Scott Kirby, the CEO of United Airlines.
Photo: APEXMichael Rousseau Salary and Compensation
For the 2023-24 financial year, Michael Rosseau was paid a salary amounting to CA$12.08 million (approx. US$8.3 million). The base package owed to him was CA$1.3 million (approx. US$900,000) whereas additional stocks and options amounted to CA$7.8 million (approx. US$5.4 million).
A part of these stocks vest or are usable only if Air Canada’s targets are met. The remainder of the amount was paid as a one-off bonus to the CEO.
Rousseau’s overall payout during the 2023-24 financial year fell CA$300,000 shorter than the amount he received in the previous cycle although it is believed that his stock options this year can be more lucrative, subject to Air Canada meeting its performance-related targets. In the AC chief’s overall package, however, there is no reference to compensation for business-related expenses, which the group may have reimbursed separately as and when they were incurred.
In an official report analyzed by Aviation A2Z, Air Canada shared that the key management person received a total of 31 million CAD, which includes CA$9 million in salary, CA$5 million in Pension and post-employment benefits and finally, CA$17 million as Share-based compensation.
Photo: Scott Kirby LinkedIn PageComparison with competitors
In spite of Air Canada being very profitable, they have been notorious for paying its pilots and other employees relatively lower salaries, particularly in comparison with its full service competitors in the United States. That is no different in Michael Rousseau’s case either, whose total compensation of roughly US$8.3 million fell significantly shorter of his rivals.
For context, American Airline’s CEO Robert Isom earned US$31.4 million during a comparable span, while Delta’s and United’s CEOs were paid US$34.2 million and US$18.2 million, respectively. With agreements anticipated with pilots over improved salaries, it remains to be seen if the board’s fate is any better in the upcoming cycle, including that of Michael Rousseau.
Also Read: Delta CEO Ed Bastian Salary and Compensation
Photo: Air CanadaAir Canada’s plans for 2025
Air Canada has some ambitious plans for 2025, which Michael Rousseau will be instrumental in executing successfully. The first and one of the most crucial agendas includes revamping the customer service with more advanced software and technology to make management of bookings as well as a passenger’s ticketing experience more seamless.
In the near future, Air Canada also plans on adding several new international destinations as it continues to welcome new Boeing 787 Dreamliners in its fleet. Manila, the capital of the Philippines will have nonstop services to Vancouver starting in April 2025.
To aid its long-haul operations, there are also plans to introduce free and high-speed WiFi gradually on planes starting from May.
Lastly, as part of Air Canada’s profitability strategy, they are also planning on starting to use sustainable fuels on flights and reducing plastic usage on its offerings in the air. Should such plans fall into place in a timely manner, the carrier anticipates its earnings before amortization, depreciation, interests, and taxes to be close to CA$ 3.5 billion.
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