The chairman and chief executive of US Airways has boosted his direct stock holdings in the airline by 72 percent through open market purchases, according to a regulatory filing on Tuesday.
Doug Parker bought 197,000 shares on Monday at about USD$2.80 per share, bringing his direct stake to 470,055 shares.
Parker said last week that as a demonstration of his confidence in US Airways, he planned to invest the equivalent of his 2008 salary in the company.
His open market buys on Monday totaled about USD$551,500. Parker's salary was USD$550,000 in both 2007 and 2006.
US Airways said last week that it would reduce its work force by 1,700, or about 5 percent. It also said it would cut more capacity than originally planned and introduce new fees, such as a USD$15 fee for the first checked bag for many customers.
Similar cutback are planned by other major US carriers as the industry battles a weakening economy and fuel prices that have doubled in the past year.
