FORT WORTH, TX – American Airlines Group Inc. (NASDAQ:AAL) announced the upcoming departure of a key executive, according to a recent 8-K filing with the Securities and Exchange Commission. Priya R. Aiyar, the airline’s Executive Vice President and Chief Legal Officer, will be leaving the company effective around February 21, 2025, to pursue a different opportunity.
The announcement comes as the airline, currently valued at nearly $12 billion, approaches its next earnings release on January 23, 2025. According to InvestingPro, nine analysts have recently revised their earnings expectations upward for the upcoming period.
The news was disclosed in a memo from Chief Executive Officer Robert Isom to all employees, which was attached to the SEC filing. The memo, dated January 10, 2025, did not reveal where Aiyar would be headed next.
Aiyar’s decision to step down comes after a tenure in which she played a significant role in the airline’s legal affairs. The company has not yet announced a successor or the plans for a transition.
American Airlines, headquartered at 1 Skyview Drive in Fort Worth, Texas, operates as a major airline in the scheduled air transportation industry. The company, which has undergone several name changes in its history, was formerly known as AMR Corp and American Airways Inc.
The 8-K filing, which serves as an official communication of significant corporate events, also contained standard financial disclosures and regulatory compliance information. However, no further details regarding financial implications or strategic shifts were provided.
The information in the filing and the attached memo is considered furnished and not filed for purposes of the Securities Exchange Act of 1934, and it is not to be deemed incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
Investors and stakeholders of American Airlines Group Inc. will be watching closely for the company’s next steps following this high-level departure. The stock has shown remarkable strength with a 58% gain over the past six months, trading near its 52-week high of $18.20.
The airline’s stock is traded on The Nasdaq Global Select Market under the symbol AAL, with analyst price targets ranging from $12 to $30 per share. For deeper insights into AAL’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, American Airlines has announced the departure of its Executive Vice President and Chief Legal Officer Priya R. Aiyar around February 21, 2025. The company is yet to announce a successor for Aiyar. In other developments, American Airlines has been the subject of several upgrades from Wall Street analysts, including Jefferies, TD Cowen, and Melius Research, citing improved traffic and a beneficial credit card partnership with Citigroup Inc (NYSE:C). The airline also faces a challenge after grounding all its flights within the U.S. due to an unexplained technical glitch.
American Airlines has entered into a 10-year co-branded credit card deal with Citi, which is expected to enhance annual cash compensation by 10%. This deal is expected to contribute significantly to pre-tax growth by 2030. In relation to analyst upgrades, TD Cowen’s Thomas Fitzgerald set a new price target of $25.00, up from $17.00, while Jefferies’ Sheila Kahyaoglu has set a target of $20.00, up from $12.00.
Finally, Wolfe Research has reaffirmed its Outperform rating and $195.00 price target for Boeing (NYSE:BA), following recent aviation incidents involving the aircraft manufacturer’s models. The firm’s analyst, Myles Walton, emphasized that these accidents should not affect Boeing’s stock or its ongoing efforts to increase production of the 737MAX model.
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