promoted an internal applicant to the function of the finance main as the airline battles a serious downturn in journey thanks to the coronavirus pandemic.
The Montreal-centered provider, which flies domestic and intercontinental routes, on Tuesday reported it appointed
the company’s senior vice president for finance, as its new chief money officer, productive Feb. 15.
Mr. Kazzaz joined Air Canada in 2010 as vice president of financial preparing and assessment. In 2015, he turned senior vice president of finance. Before Air Canada, Mr. Kazzaz put in 24 several years at U.S. provider United Airways Inc. in many government roles.
Air Canada in October stated its current CFO
would do well
as main executive Feb. 15. Mr. Rovinescu ideas to retire just after almost 12 years on the job. Mr. Rousseau has served as Air Canada’s CFO due to the fact 2007. The corporation in 2018 added the responsibilities of deputy CEO to his role.
Air Canada has endured in the course of the pandemic, reporting losses for the to start with three quarters of the year. The company recorded a decline of 685 million Canadian dollars, equal to $539.4 million, for the quarter finished Sept. 30, in comparison with a profit of C$636 million in the prior 12 months time period.
In his new position, Mr. Kazzaz will have to give precedence to conserving income whilst the corporation is ready out the pandemic, mentioned Burkett Huey, an analyst at Morningstar Inc. Once desire for journey returns—potentially in 2021—the new CFO could be tasked with reallocating ability towards routes and countries dealing with a more quickly economic rebound than other folks, Mr. Huey claimed.
Air Canada declined to remark over and above its release.
—Micah Maidenberg contributed to this post.
Publish to Mark Maurer at [email protected]
Copyright ©2020 Dow Jones & Company, Inc. All Legal rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8