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American Airlines (AAL) Appoints New Chief Financial Officer
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American Airlines Group Inc. (AAL - Free Report) ) is set to welcome the new year with its new Chief Financial Officer (CFO). The airline company has announced the promotion of Devon May from senior vice president of Finance and Investor Relationsto its CFO,effective Jan 1, 2023. He will be reporting to Robert Isom, AAL’s chief executive officer (CEO). In this new role, he will be supervising AAL’s financial planning and analysis, corporate development and investor relations work.
Devon May succeeds Derek Kerr, who will step down from his role at year end after serving for almost 20 years as CFO of America West, US Airways and American. However, Derek Kerr will continue working with AAL as vice chair, president of American Eagle and Strategic Advisor and monitor AAL’s Regional and Cargo teams and serve as a strategic advisor to the company.
Devon May joined America West in 2002. He has been working with AAL as senior vice president of Finance and American Eagle and senior vice president of Network Strategy, where he monitored American Airlines’s regional operations as well as its network planning and alliances work.
Considering Devon May’s 20 years of airline industry experience across finance, operations, network planning and alliances, the latest promotional announcement marks a strategic business move on American Airlines’ part and should help the company achieve its debt reduction targets.
Notably, Robert Isom, AAL’s CEO, stated, “Devon is the perfect person to lead our finance organization going forward as we continue to focus on achieving sustained profitability and reducing debt. He is a world-class executive who has built a great team around him, and he has played a critical leadership role inside American for many years. This move follows a long-planned succession process, and the entire senior leadership team is looking forward to working alongside Devon even more closely in his new role.”
Some better-ranked stocks from the broader Zacks Transportation sector are United Airlines Holdings, Inc. (UAL - Free Report) , Ryder Systems (R - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) , each currently carrying a Zacks Rank #2 (Buy).
UAL has an expected earnings growth rate of 115.64% for the current year. UAL delivered a trailing four-quarter earnings surprise of 7.78%, on average.
The Zacks Consensus Estimate for UAL’s current-year earnings has improved more than 100% over the past 90 days. Shares of UAL have gained 6.6% over the past year.
Ryder has an expected earnings growth rate of 67.12% for the current year. R delivered a trailing four-quarter earnings surprise of 30.13%, on average.
The Zacks Consensus Estimate for R’s current-year earnings has improved 6.9% over the past 90 days. Shares of R have gained 4.7% over the past year.
Teekay Tankers has an expected earnings growth rate of 214.91% for the current year. TNK delivered a trailing four-quarter earnings surprise of 42.23%, on average. Teekay Tankers has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved 95% over the past 90 days. Shares of TNK have soared 176.8% over the past year.
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American Airlines (AAL) Appoints New Chief Financial Officer
American Airlines Group Inc. (AAL - Free Report) ) is set to welcome the new year with its new Chief Financial Officer (CFO). The airline company has announced the promotion of Devon May from senior vice president of Finance and Investor Relationsto its CFO,effective Jan 1, 2023. He will be reporting to Robert Isom, AAL’s chief executive officer (CEO). In this new role, he will be supervising AAL’s financial planning and analysis, corporate development and investor relations work.
Devon May succeeds Derek Kerr, who will step down from his role at year end after serving for almost 20 years as CFO of America West, US Airways and American. However, Derek Kerr will continue working with AAL as vice chair, president of American Eagle and Strategic Advisor and monitor AAL’s Regional and Cargo teams and serve as a strategic advisor to the company.
Devon May joined America West in 2002. He has been working with AAL as senior vice president of Finance and American Eagle and senior vice president of Network Strategy, where he monitored American Airlines’s regional operations as well as its network planning and alliances work.
Considering Devon May’s 20 years of airline industry experience across finance, operations, network planning and alliances, the latest promotional announcement marks a strategic business move on American Airlines’ part and should help the company achieve its debt reduction targets.
Notably, Robert Isom, AAL’s CEO, stated, “Devon is the perfect person to lead our finance organization going forward as we continue to focus on achieving sustained profitability and reducing debt. He is a world-class executive who has built a great team around him, and he has played a critical leadership role inside American for many years. This move follows a long-planned succession process, and the entire senior leadership team is looking forward to working alongside Devon even more closely in his new role.”
Zacks Rank and Stocks to Consider
Currently, American Airlines carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks from the broader Zacks Transportation sector are United Airlines Holdings, Inc. (UAL - Free Report) , Ryder Systems (R - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) , each currently carrying a Zacks Rank #2 (Buy).
UAL has an expected earnings growth rate of 115.64% for the current year. UAL delivered a trailing four-quarter earnings surprise of 7.78%, on average.
The Zacks Consensus Estimate for UAL’s current-year earnings has improved more than 100% over the past 90 days. Shares of UAL have gained 6.6% over the past year.
Ryder has an expected earnings growth rate of 67.12% for the current year. R delivered a trailing four-quarter earnings surprise of 30.13%, on average.
The Zacks Consensus Estimate for R’s current-year earnings has improved 6.9% over the past 90 days. Shares of R have gained 4.7% over the past year.
Teekay Tankers has an expected earnings growth rate of 214.91% for the current year. TNK delivered a trailing four-quarter earnings surprise of 42.23%, on average. Teekay Tankers has a long-term expected growth rate of 3%.
The Zacks Consensus Estimate for TNK’s current-year earnings has improved 95% over the past 90 days. Shares of TNK have soared 176.8% over the past year.