Montreal Airport | A bonus lands in the pockets of the leaders


The turbulence of the pandemic, which temporarily weakened the finances of Aéroports de Montréal (ADM), did not prevent its managers from splitting a long-term bonus of 1.2 million last year. The work of recent years will make life easier for travelers, replies the manager of Montreal-Trudeau and Mirabel.



Taking that amount into account, the “total bonuses” paid to these nine nonprofit executives and full-time employees totaled $5.3 million in 2023, up 51% from 2022.

ADM generated a surplus of around 250 million last year.

The information appears in the organization’s latest annual report, which was presented Thursday at its annual public meeting. These “pre-defined” goals are not listed in the roughly 160-page document, but the board deemed them met nonetheless.

“In 2022, among other things, we carried out (a number of) works to improve the processing capacity (30%) of the baggage storage,” explained ADM’s Vice President of Public Affairs Martin Massé in an interview on the sidelines of the event, together with President and CEO Yves Beauchamp. “There was also a repair of the line, which was unique in that it created a factory on site where the concrete was recycled to reduce freight traffic. »

According to Mr. Massé, this type of element is analyzed by CA In office since September 5, Mr. Beauchamp was not concerned about the payment of this long-term bonus.

“It’s hard to know why they were entitled to the bonuses,” said Jacques Roy, a professor of operations and logistics management at HEC Montreal and author of a book on Montreal-Trudeau and Mirabel airports. “Yes, there has been some work done in the luggage room, but is it worth the reward? Does it go beyond what we expected? That is a question. »

Less congested?

Recent years have been chaotic for travelers. Traffic congestion also increased in the area around Montreal-Trudeau after flight cancellations, delays and lost luggage, causing significant access problems.

PHOTO PATRICK SANFAÇON, LA PRESSE ARCHIVE

President and CEO of Aéroports de Montréal, Yves Beauchamp

During the interview, Mr. Beauchamp was more optimistic about the summer season. Montréal-Trudeau offers free access to all its parking lots for a maximum of 40 minutes. Almost a quarter of the cars circling the main apron are occupied by people circling around until a passenger arrives.

There is now an express exit point at the new P4 parking lot. The other is built near Côte-de-Liesse. Both buildings are served by shuttles with a journey time of around 5 minutes to the main landing area.

“We have to realize the magnitude of everything that has been done,” says Mr Beauchamp. Yes, there will be an improvement. It is clear. These measures will apply for the next four years. »

Flexibility

This period will coincide with an ambitious 4 billion plan unveiled by the ADM director last April, which will see the addition of parking spaces, a new boarding gate and a tripling of airfield capacity. These projects will be financed mainly by the operator Montreal-Trudeau, whose net debt was 2.2 billion as of December 31.

Yves Beauchamp has already asked for airport management to be made more flexible in order to create space for private investment, especially for pension plan managers such as the Caisse de dépôt et placement du Québec (CDPQ). He would also like the Trudeau government to extend ADM’s lease for at least 50 years.

“We met with the (federal) Minister of Transport (Pablo Rodriguez) on several occasions and we always said: there are measures that do not cost anything,” says Mr Beauchamp. These are supplementary pension insurance and lease extension. I think the message will get through. »

Montreal-Trudeau’s current lease expires in 2072. ADM must return the facility to federal authorities debt-free and in good condition. Mr Beauchamp says once the “50-year” window before maturity “narrows”, the dynamics of lending will change significantly. We need to make sure that we plan so that no more debt is incurred, said the ADM president.

In collaboration with Henri Ouellette-Vézina, Press

Read “Private sector must also be able to invest, CEO says”

Find out more

  • 213 million
    ADM’s sales for the months of January to March increased by 14.6% compared to last year

    Source: Montreal Airports

  • 36 million
    Surplus for the first quarter, up 43% year-on-year

    Source: Montreal Airports





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