I just read the article. He may be a lot smarter than most on this board give him credit for. I would love to hear Crandall's comments on all of this, but for me betting on the company when the market is near a top says a lot.
He's not really "betting on the company when the market is near a top" anymore than he was already doing.
For 2013 and 2014, his cash salary was only about 5% of his total compensation, so he hasn't given up very much there. Agreeing to forgo the cash bonus plan which could have paid him another $1.4 million was a nice touch.
Parker currently holds about $32 million worth of AAL (at current market prices) and has options, SARs and other incentive equity vehicles that, at current market prices, are worth about another $100 million. If fuel prices stay low and the airline industry experiences some stability for a few more years, he's a shoe-in to become a billionaire by about 2020.