American Airlines announced CEO Doug Parker’s retirement on Tuesday, as the US and the entire industry struggles to recover from the devastating COVID-19 pandemic.
Parker, 60, is a big figure in the industry and the longest-serving CEO of a major US airline.
President Robert Isom will take over as CEO on March 31, but Parker will remain as chairman of the board.
He praised Isom and said the US is “well positioned to take full advantage of our industry’s recovery.”
Like all airlines, American has struggled during the pandemic with recent service disruptions and pre-existing debt issues.
According to CNN, American has lost $14 billion since the beginning of 2020 (not including federal aid to it and other airlines), while its debt flower The company borrowed 60% to $36 billion more to survive the effects of the pandemic.
was supposed to be american especially vulnerable before the pandemic because it had more debt than its rivals.