MONTREAL, Feb. 25,
2022 /CNW Telbec/ - Air Canada today filed its Notice
of 2022 Annual Meeting of Shareholders and Management Proxy
Circular. The document is publicly available on Air Canada's
website at aircanada.com and filed on sedar.com.
The Proxy Circular contains information for shareholders related
to how they may vote their shares, the election of directors, the
appointment of auditors, executive compensation and Air Canada's
environmental, social and governance (ESG) and other sustainability
practices, in advance of the airline's Annual General Meeting on
March 28, 2022.
The circular confirms Air Canada's compliance with the Large
Employer Emergency Financing Facility (LEEFF) program, under which
Air Canada obtained access to Government of Canada support in April
2021, limiting the pay of each Named Executive Officer to
$1 million. No bonuses were paid to
the Named Executives.
The circular also has executive pension information. In
February 2021, Michael Rousseau became President and Chief
Executive Officer and Amos Kazzaz
became Executive Vice President and Chief Financial Officer. With
these promotions their future pension plan values increased under
the company's established pension plan rules, but none of these
amounts were paid in 2021 and will only be paid over time, after
they retire. The LEEFF program did not affect such pension
calculations, which are required for accounting purposes.
In November 2021, Air Canada
announced that, due to its improved liquidity position and ongoing
recovery from the pandemic, it was withdrawing from LEEFF and
terminated the unused credit facilities available under the
Government of Canada financial
package.
About Air Canada
Air Canada is Canada's largest domestic and international
airline, the country's flag carrier and a founding member of
Star Alliance, the world's most
comprehensive air transportation network. Air Canada is the only international network
carrier in North America to
receive a Four-Star ranking from the independent U.K. research firm
Skytrax, which in 2021 also named Air Canada as having the Best
Airline Staff in North America,
Best Airline Staff in Canada, Best
Business Class Lounge in North
America, as well as an Excellence award for its handling of
COVID-19. Also in 2021, Air Canada was named Global Traveler's Best
Airline in North America for the
third straight year. In January 2021,
Air Canada received APEX's Diamond Status Certification for the Air
Canada CleanCare+ biosafety program for managing COVID-19, the only
airline in Canada to attain the
highest APEX ranking. Air Canada
has also committed to a net zero emissions goal from all global
operations by 2050. For more information, please visit:
aircanada.com/media, follow Air Canada on Twitter and
LinkedIn, and join Air Canada on Facebook.
Sign up for Air Canada news: aircanada.com
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