If I read correctly the pilot produced fraudulent documents, defrauding Air Canada. Air Canada behaved as if the pilot was properly licensed because, that's how the pilot presented themselves to the airline. So I doubt any sort of compensation would be in order, aside from the pilot compensating Air Canada for his fraud.

That being said, however, I think a thorough investigation into how AC vets it's pilots and ensures that they are and remain properly licensed to perform this job.

What is most shocking to me is that the pilot spent 20 yrs with AC and was even voted to be the head of the airline's pilot's association. This wasn't some guy who forged some documents and then did his best to fade into the background so as not to draw attention to himself. He actively involved himself in the airline and the pilots association and yet no one suspected a thing or did further investigation.