New American Airlines CEO Doug Parker made a $13.4 million profit from stock sales after the company’s recent merger with US Airways, The Associated Press reports.
Parker, who had been US Airways’s chief executive, took over the combined company when its merger was approved by federal regulators late last year.
The post-merger CEO sold one-third of his stock in the combined airline, according to the report.
Several of Parker’s shares came from a previous merger between US Airways and America West Airlines in 2005, according to the report.
Parker sold 702,375 of his more than 2 million overall shares to generate the profit, the AP said.