American Airlines Group Inc. (NASDAQ:AAL) announced the promotions of Bill Cade to Vice President – Base Maintenance and Engines and Craig Barton to Vice President – Technical Services. The appointments fill two existing positions within the maintenance organization and are effective immediately. Both Cade and Barton will report to David Seymour, Senior Vice President – Technical Operations.
Concurrent with this news, Seymour thanked Bill Collins for his contributions during the airline’s initial integration phase. Collins previously served as Vice President – Base Maintenance and has stepped down from his role and will be leaving the company.
In his new role, Cade now will lead the team that manages aircraft major repairs, overhaul and modification at our heavy maintenance bases in Charlotte, N.C., Pittsburgh, Dallas/Fort Worth and Tulsa, Okla. He also will be responsible for all internal engine shops, all external heavy maintenance globally and facilities maintenance at all Technical Operations facilities.
Barton will step into an existing position and assume responsibility for the planning and resource management for all line and heavy maintenance. In addition, he will manage all strategic project planning for Technical Operations.
“Bill and Craig are proven leaders who have been instrumental in the progress we are making in our operational reliability,” said Seymour. “In their new roles, they will have the opportunity to have an even greater impact across the tech ops organization and help further our mission of running a safe and reliable operation for our customers.”
Cade joined Trans World Airlines (TWA) in 1992 as an Airframe and Powerplant Mechanic. From there, he held several additional roles including Director – Maintenance Operation at LAX. After American acquired TWA, Cade was named as Regional Manager at LAX.
A licensed Airframe and Powerplant (A&P) technician, Cade most recently served as Managing Director – Line Maintenance for the Western Region and Asia. Before his most recent post, Cade held the same role for both the Southeast and Central Regions. Prior to joining TWA, he spent three years at Pan American World Airways, joining the company as a Sheet Metal Mechanic.
Barton, a degreed engineer, joined American Airlines 20 years ago and was named Managing Director – Power Plant and Fleet Operations Engineering in 2002. From there, he held several leadership roles at the Company including Managing Director – Fleet Management and, most recently, Managing Director – Technical Operations Integration. He joined American as a Senior Power Plant Engineer.
Prior to American, Barton spent nearly seven years as a member of the technical staff in the North American Aircraft Division of Rockwell International. He holds a Master of Science in Engineering, Aerodynamics/Propulsion from California State Polytechnic University and a Bachelor of Science in Aeronautical and Astronautical Engineering from the University of Illinois. (Original Source)
Shares of American Airlines closed today at $44.49, down $0.16 or 0.36%. AAL has a 1-year high of $56.20 and a 1-year low of $34.10. The stock’s 50-day moving average is $43.03 and its 200-day moving average is $42.64.
On the ratings front, American Airlines has been the subject of a number of recent research reports. In a report issued on October 13, Evercore ISI analyst Duane Pfennigwerth downgraded AAL to Hold, with a price target of $50, which implies an upside of 12.4% from current levels. Separately, on October 12, Deutsche Bank’s Michael Linenberg reiterated a Buy rating on the stock and has a price target of $52.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Duane Pfennigwerth and Michael Linenberg have a total average return of 0.3% and 26.9% respectively. Pfennigwerth has a success rate of 54.5% and is ranked #2496 out of 3832 analysts, while Linenberg has a success rate of 72.0% and is ranked #23.
The street is mostly Bullish on AAL stock. Out of 5 analysts who cover the stock, 3 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $50.67, which implies an upside of 13.9% from current levels.
American Airlines Group Inc, through its subsidiaries, operates in the airline industry. The Company has hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York City, Philadelphia, Phoenix and Washington, D.C.