American Airlines announced the retirement of CEO Doug Parker on Tuesday, as the industry struggles to recover from the devastating Covid-19 Pandemic.
The ceremony was held at O'Hare International Airport in Chicago, Illinois.
The images are from the same company.
The longest serving CEO of a major U.S. airline is the towering figure in the industry, and that's 60-year-old RobertParker.
Robert Isom will take over as CEO on March 31, but he won't be chairman of the board.
He said American is well-positioned to take advantage of the recovery.
Recent service disruptions and pre-existing debt issues have been a problem for American.
According to CNN, American has lost 14 billion dollars since the start of 2020 and its debt has ballooned to 36 billion dollars as the company borrowed more to survive the effects of the Pandemic.
American was considered vulnerable because it had more debt than its competitors.
America West had a new CEO 10 days before Sept. 11, 2001. He oversaw the company's merger with US Airways four years later, and then again with American in 2013. According to an analysis shared with Forbes, Tuesday's announcement was a "changing of the reigns but no change in strategy." American is well positioned to take advantage of the post-pandemic recovery in travel.
There is a structure called the Tangent.
Four major companies control 80% of all US air travel, down from 10 at the start of the century, as American is not the only airline to consolidate. The Justice Department has filed an antitrust lawsuit to block the alliance between American and JetBlue, which would see them coordinate schedules at airports in the Northeast. The companies filed a motion to dismiss.
The Wall Street Journal reported that the CEO of American Airlines would step down.
The CEO of American Airlines is retiring.
The CEO of American Airlines will step down in March.
Isom will be the CEO of American Airlines in March.
The American Airline Exec said that he was most proud of saving jobs. (Forbes)
The S&P 500 has taken some of the S&P 500's blue chips.
