The Fort Worth-based American Airlines Group Inc. stated that Doug Parker, its former CEO, will retire on April 30th and vacate his position as board chairman. As part of the board's long-term talent management, Parker will be succeeded as chairperson by former Boeing CFO Greg Smith.
After working for The Boeing Company for more than 30 years, most lately as its executive vice president and CFO, Smith merged with American's board of directors in January 2022.
Here's what Parker noted in a public letter:
"Our CEO transition has been faultless owing to the outstanding effort of Robert Isom, his crew, and our board. The transfer of our chairman is appropriate at this time, and we're lucky to have Greg Smith in place to fill that position. Since joining American's board, Greg has made tremendous contributions, and his deep understanding of the aviation sector and his decades of leadership abilities will be important moving ahead."
Parker declared in late 2021 that Robert Isom will succeed him as CEO on March 31st, 2022. On April 30th, the chairman transfer will go into effect.
Isom stated as well:
"The American Airlines staff will always be thankful to Doug for helping to shape our airline into what it is today. On a personal level, I appreciate Doug's support over the past year as I assumed the CEO position."
In addition to these board changes, American also disclosed that Ray Robinson and Jim Albaugh would step down after their current terms, which fall on the same day as the company's next annual shareholders meeting.
At AT&T, based in Dallas, Robinson worked for 35 years before joining the board in 2005. Albaugh, a former CEO and president of Boeing, has served on the board since 2013.
Throughout their careers, Ray and Jim have contributed greatly to the board, according to Parker.
"Finally, we also like to express our gratitude to John Cahill for leading our board's independent directors since 2013. His leadership has been crucial, and he will continue to serve on the board in an important capacity for years to come."
American provided an upbeat prediction for 2023 in its January earnings report, which marked the company's third consecutive profitable quarter. In contrast to the prior-year quarter's loss of $931 million, or $1.44 per share, the carrier turned a profit of $803 million, or $1.14 per share, in the fourth quarter. Once exceptional things were taken into account, American's profit came to $827 million, or $1.17 per share.
As the airline continues to reorganize and decrease its debt, American also revealed intentions this month to refinance a $1.8 billion term loan. According to evaluations by three of the major credit rating agencies, it requested a new $1 billion term B loan to partially refinance an existing 2013 facility with a 2025 maturity date. The business plans to simultaneously raise $750 million in senior secured debt with a ranking equal to that of the new term loan. The total net debt of America would remain the same, but the payment deadline would be moved up by three years to 2028.
Always travel in full comfort together with us – ParkingNearAirports.io!
Source: Sheryl Lanzel/The Business Journals
You might be surprised about this fact because most people are confident that on-site parking is the best choice when you're traveling by air. But, actually, it's not true, and we'll explain why.
People who prefer to get to the airport by car think that it's the most convenient option since on-site parking is the nearest place to the airport where it's possible to park a vehicle safely for the period of a trip. However, they make a huge mistake, as there is a big chance to face many following difficulties:
- You will need to find a spot in a crowded lot,
- You will need to carry the luggage all the way through the parking lot,
- You must pay expensive fees without great service, and much more.
Sounds not so good, right? But there is one great solution in this situation – an off-site parking option!
The off-site parking service has many advantages, which will definitely convince you to change your choice during the next trip:
- First of all, it's much cheaper. On-site parking can become too costly for you, as the price for such a parking type might equal half the value of the whole trip. The cost of the off-site parking, in turn, will be not so high, offering alongside free shuttles going back and forth between the parking lot and the airport.
- Secondly, it's much faster. By choosing an on-site parking option, you'll be needed to find a free spot in a crowded lot, which takes a lot of time. However, by selecting an off-site parking option, you'll be able to drive directly to the entrance, where staff members will help you to pull your luggage out of your vehicle and load it into the shuttle, as well as park your car securely for you. Finally, a free shuttle will bring you and your bags to the airport.
- Thirdly, it's much more convenient. No more worries about being late to the airport and your flight – the off-site parking is a hassle-free option that is usually faster. Since you use the services of a private company, people want to be sure you're satisfied with the quality and comfort of the services provided, so you don't need to wrack your brain about the quick path to the airport anymore.
As for the companies that provide the best off-site parking services, we've prepared an ideal option for you. Our booking platform, ParkingNearAirports.io, built excellent relationships with many parking lot operators to leave customers satisfied and their cars – safe. Furthermore, it doesn't matter what the airport you're flying from is – on our easy-to-navigate website, https://parkingnearairports.io/, you'll find the best deals for all the major airports and cruise ports in the United States and Canada.
To understand it better, we can give you an example. Let's imagine that you live in Dallas, Texas and plan to visit Nashville, Tennessee. Then, you can use the services of cheap off-airport parking DFW. If you're flying from Nashville, the situation is the same – choose affordable Nashville Airport car parking. So, as you can understand, everything works simply.
By the way, on our website, you can find all the required information about the advantages of off-site parking, airport parking deals, and others. So travel profitably and enjoy your following trip together with us!
