After 8 years of holding the position, American Airlines Group Inc. (Nasdaq: AAL) CEO Doug Parker is retiring on March 31, 2021. The airline carrier’s current president Robert Isom is set to succeed on the same date.
“I am humbled to serve as CEO of American Airlines,” said Isom. “Today, our more than 130,000 dedicated team members fly more people than any other U.S. airline on the youngest fleet of all the network carriers, and we are positioned to continue to lead the industry as travel rebounds.”
Parker will still remain the airline’s chairman of the board.
Isom became the airline’s president in 2016. Prior to this, he served as the firm’s executive vice president and chief operating officer. Parker, on the other hand, was appointed CEO of then-America West Airlines 10 days before the infamous September 11, 2001 attack.
In 2005, America West and US Airways merged with Parker keeping the CEO position of the combined company, where Isom also served as executive vice president and COO.
The deal to merge US Airways and American Airlines was closed in 2013, with Parker still holding the CEO position of the resulting merger, American Airlines Group. He then took the board chairmanship in 2014 after former chairman Thomas Horton completed his tenure.
Isom will take over the company as it goes through rebounding from the effects of the pandemic restrictions on travel. In Q3 2021, the airline reported US$8.97 billion in revenues and US$641.0 million in net loss excluding net special items.
American Airlines Group Inc. last traded at US$17.93 on the Nasdaq.
Information for this briefing was found via Edgar and American Airlines. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
