American Airlines pilots based in Philadelphia have called for the ouster of CEO Doug Parker as they grow considerably more frustrated with how the carrier has performed of late.
The move comes ahead of next week's planned demonstration at American headquarters in Dallas by the Allied Pilots Association.
"This is the Philadelphia pilots showing frustration that exists across the system," said Allied Pilots Association spokesman Dennis Tajer. "For now, our national leadership is calling for the repair of American Airlines and our relationship. That is why our current negotiations are so important. Our passengers deserve a better airline and so do our employees."
In a resolution approved earlier this week, Philadelphia pilots stated that, "It's in the best interest of the American Airlines shareholders, employees, communities it serves, and the traveling public for Doug Parker and his management team to be replaced. (Pilots) have lost confidence in Doug Parker and his management team's ability to successfully lead and manage American Airlines and have lost faith in their ability to provide long term job security for the employees, consistent financial returns for its investors, and most importantly enjoyable, reliable service for our customers," the resolution said.
The resolution said American shares have fallen 50 percent in the past 24 months, despite $12 billion in stock buybacks; the carrier's market capitalization is less than a third of Delta's; American operational performance has trailed peer performance; "Some airline financial analysts have questioned Doug Parker and his team's decision to put the company in such a risky leveraged financial position," and the management team has failed to improve the corporate culture.
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