#AirFrance#Unions Aren’t Happy With Newly Appointed #CEO ’s Big Salary No sooner had Air France-#KLM appointed a new CEO, its third in barely two years, than the backlash started.
Hired from #AirCanada , #BenSmith chief crime – in the eyes of the trade unions at least – is that he isn’t French (although he does speak the language.) Plus investors seem to quite like the choice – quelle horreur!
Predictably, though, his pay has also come under attack. He’ll receive about 3.3 million euros ($3.8 million) yearly or about three times what his predecessor Jean-Marc Janaillac was paid, according to Liberation. The unions and some politicians are outraged, but they shouldn’t be.
For one, Smith isn’t getting much more than he received in his last job. As Air Canada’s chief operating officer, he was paid about C$4 million (2.7 million euros.) His accomplishments there included establishing a new low-cost operation and negotiating a pay deal with the unions. A resume like that is valuable. The market for executive talent is global and there are plenty of airlines with deeper pockets than Air France. In view of how the new role is a promotion, a 20 percent uplift seems unexceptional.
Second, Smith is taking on one of the hardest jobs in European business. Air France faces intense competition on both long-haul flights from the Gulf carriers and shorter routes from Ryanair Holdings Plc, EasyJet Plc and the rest. Rising oil prices threaten to erode profit further.
#Boeing#Airbus#airport#airplane#aviation#avgeek#aviation4u#aviationdaily#aviationlovers#planespotting#megaplane#megaaviation#Pilot#Pilotlife#Crew#Crewlife#Groundstaff#Groundstafflife @aircanada @airfrance @klm
#AirCanada Tries to Minimize Disruption as Chief Operating Officer Leaves Air Canada has a succession gap now that its No. 2 executive is leaving to run Europe’s largest airline. But the Canadian carrier has a deep management bench that will minimize disruption, say Cowen & Co. and RBC Capital Markets.
Chief Operating Officer Ben Smith will leave Air Canada Aug. 31 to take charge at Air France-KLM, the companies said late Thursday. Smith was widely seen by analysts as a likely successor to Air Canada Chief Executive Officer Calin Rovinescu, who will turn 63 next month.
Smith is leaving Air Canada after the carrier reported records last year for sales and a broad measure of earnings. During a decade-long revamp under Rovinescu, the Montreal-based airline has added more fuel-efficient aircraft such as the Boeing Co. 787 Dreamliner, expanded the Rouge discount unit and cut costs with a 2016 debt financing. “Ben will be missed, but Air Canada remains well positioned to drive profitability over the next several years,” Cowen’s Helane Becker said in a note to clients. “Air Canada has good bench strength to replace Ben with an internal candidate. We do not expect there will be much deviation from current plans.” Air Canada fell 1.1 percent to C$23.60 at 9:52 a.m. in Toronto. The shares slid 7.8 percent this year through Thursday, compared with a 5.9 percent decline for major U.S. carriers. Air Canada soared 89 percent last year following a gain of 34 percent in 2016.
Over the last few years, Smith spearheaded the expansion of Air Canada’s network to more than 200 destinations worldwide with a fleet of about 350 planes. #Boeing#Airbus#airport#airplane#aviation#avgeek#aviation4u#aviationdaily#aviationlovers#planespotting#megaplane#megaaviation#Pilot#Pilotlife#Crew#Crewlife#Groundstaff#Groundstafflife @aircanada
Paris to Montreal... 7 hours smooth flight..Air Canada makes sure to provide comfort at its best in the air..but lemme say why do people like me who just can't stand "delicacies or so called luxury foods" and suffer... have had a pleasant experience several times in business with Emirates, Saudi , Royal Jordanian, Thai Airways in past and as well as Air Canada ....talking about appetizers; first they brought smoked salman which was undercooked as usual and then duck's liver ( duck foei gras & magret) with prune chutney.... whyyyy😢😭 #aircanada#businessclass#delicacies#suffering#duckfoeigras#duckmagret#travel#comfort#food#frequentflyer
Ella’s very 1st plane ride ✈️ We all woke up at 4:45 a.m to catch our 7:15 a.m. flight. This is our first time traveling with our baby which required a whole different level of planning & a lot of extra luggage (car seat, car seat base, stroller, diaper bag). Ella was such a good girl before, during & after the flight. She follows mommy and daddy’s liking and is a natural jet setter. She even fell asleep before take-off! To make things even extra special, Ella had the privilege of sitting in the captain’s seat in the cockpit! It’s true, it takes a village to raise a child and everyone that we came across today was beyond helpful, accommodating & sweet to us. Thank you for making our first plane ride even more enjoyable! #ellaparkergan#epg#vancouver#aircanada#yvr#vancity#GanKohFamilyTrip2018 🇨🇦