#AirCanada; #TemporaryLayOffs; #COVID19Pamdemic; #GlobalShutDown
Ottawa, Mar 31 (Canadian-Media): Having halted most of its international and U.S. routes in response to the global shutdown caused by COVID19 pandemic, Montreal-based Air Canada said it will temporarily lay off 16,500 employee effective this Friday, media reports said.
Air Canada. Image credit: Website
Air Canada company said in a statement that Calin Rovinescu, chief executive officer of Air Canada, and CFO Michael Rousseau will forego 100 percent of their salaries for the second quarter, other senior executives will lose between 25 and 50 percent of their salaries, while members of the board will forego 25 per cent.
The airline says it will also stop buying back its shares while the current crisis unfolds.
Thousands of jobs in the airline sector had been lost by this pandemic including laying off of 3,600 flight attendants by Transat AT Inc. and 6,900 departures including early retirements, resignations and both voluntary and involuntary leaves.
Both Air Transat and Porter Airlines have halted all flights.
WestJet said Monday it is extending its 30-day suspension by two more weeks by cancelling all transatlantic and U.S. routes until May 4.