United Airlines stock drops a quarter billion after passenger removal
United Airlines has garnered headlines due to the graphic forced removal of a passenger off one of its flights and their subsequent response to the fallout. Now, United is paying the price on wall street, when shares fell as much as 6.3 percent in pre-market trading, dropping $1.4 billion from the now $21 billion company.
However, the airline recouped some of its losses, closing off 1.1 percent, wiping $255 million off its market capitalization. The negative reaction could be attributed to CEO Oscar Munoz’s to first defend his staff’s actions. Munoz would release a statement Tuesday apologizing for the “truly horrific event.”
Originally published at SocialUnderground.