Montreal Airports | A bonus lands in the pockets of leaders

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

Taking this amount into account, the “total bonuses” paid to these nine senior executives of the non-profit organization as well as full-time employees totaled 5.3 million in 2023, up 51% compared to 2022.

ADM generated a surplus of around 250 million last year.

This information appears in the organization’s most recent annual report, unveiled Thursday at its annual public meeting. These “predefined” objectives are not listed in the approximately 160-page document, but the board nevertheless judged them to have been achieved.

“We have carried out (a series) of work, among others, in 2022, to improve the processing capacity (30%) of the baggage room,” explained ADM’s vice-president of public affairs, Martin Massé, in an interview on the sidelines of the event, alongside the president and CEO, Yves Beauchamp. “There was also the repair of the track which was unique with the creation of an on-site factory where concrete was recycled to reduce trucking. »

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

“It’s difficult to know why they were entitled to bonuses,” said Jacques Roy, professor of operations and logistics management at HEC Montreal and author of a book on the Montreal-Trudeau and Mirabel airports. “Yes, there was some work done in the baggage room, but is that worth a reward? Is this going beyond what we expected? That’s the question. »

Less congested?

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

During the interview, Mr. Beauchamp was more optimistic in view of the summer season. Montréal-Trudeau offers free access to all its parking lots, for a maximum duration of 40 minutes. Nearly a quarter of the cars circulating on the main landing stage are occupied by people who go around in circles until a passenger arrives.

The new P4 parking lot now accommodates an express drop-off point. A second is built near Côte-de-Liesse. Both structures are served by shuttles, with journey times of around 5 minutes to the main landing stage.

“We must realize the magnitude of everything that has been done,” says Mr. Beauchamp. Yes, there will be an improvement. It’s clear. These measures will be in place for the next four years. »

Flexibility

This period will coincide with the ambitious 4 billion plan unveiled last April by the director of ADM and which will result in the addition of parking lots, new boarding gates, and a tripled capacity of the landing stage. These projects will be financed mainly by the operator of Montréal-Trudeau, whose net debt was 2.2 billion as of December 31.

Yves Beauchamp has already made a plea in favor of making airport governance more flexible to make room for private investments, particularly those of pension plan managers such as the Caisse de dépôt et placement du Québec (CDPQ). He would also like to see the Trudeau government extend ADM’s lease for at least 50 years.

“We met the (federal) Minister of Transport (Pablo Rodriguez) on several occasions and we always said: there are measures that cost nothing,” says Mr. Beauchamp. These are pension plans and extending the lease. I think the message will get through. »

The current Montreal-Trudeau lease ends in 2072. ADM must return the facilities to the federal authorities debt-free and in good condition. Mr. Beauchamp says that as soon as the “50-year” window before maturity “narrows,” the dynamics of borrowing change significantly. We must make sure we plan so that there is no more debt, said the president of ADM.

With the collaboration of Henri Ouellette-Vézina, The Press

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