American Airlines CEO urges investors to view airlines over long-term
Chairman and CEO Doug Parker says will have inducted 395 new airplanes into fleet since merger by end of 2017, while retiring 391 older aircraft. Urges investors to view airlines over the long-term. Says annual incentive plan designed to average 100% of target over time. Says 80% of shares held by low-turnover investors. Says "exactly where we need to be" with capital allocation, says allocating capital with a long-term focus. Says will continue using excess capital for repurchases. Sees pretax earnings averaging $5B per year over time. Says company, industry as a whole is undervalued. Says unit revenue trends have turned positive. Comments taken from the J.P. Morgan Aviation, Transportation and Industrials Conference. American Airlines is up 0.3% in morning trading to $41.34.