Posted on 04/11/2017 10:35:28 AM PDT by Morgana
FULL TITLE: United Airlines' stock price falls 2.46% in trading on Wall Street wiping $550MILLION off the company's value after violent eviction of passenger
Investors on Wall Street appear to be ready to jump ship from United Airlines in the wake of the public relations debacle triggered by the forced removal of a passenger on Sunday.
Shares of United Continental Holdings Inc. fell over 3 per cent in early trading on Wall Street, wiping $800million off the company's value.
Just after noon local New York time, the stock recovered somewhat but was still hovering at a loss of 2.46 per cent - resulting in a devaluation of slightly over $550million.
In premarket trading on Tuesday, the share price dropped by 2.4 per cent, according to MarketWatch.
Investors currently peg United's market capitalization at $22.5billion.
The 2.4 per cent drop is an improvement over the 6-per cent drop in share price that had been reported in premarket trading hours earlier.
(Excerpt) Read more at dailymail.co.uk ...
So it is accepted practice by all airlines to overbook. Sometimes someone unfortunately has to take a different flight option. This man was clearly uncooperative, possibly belligerent.
I don’t see why people so reflexively blame United. This guy clearly is no saint.
Started at 70, down to 68 at mid day, now back up to 69
So slightly more volatile trading, not a major sell off.
Rush defending the airline. Sorry, but the practice of overbooking is fraud. Always has been. They are allowed to get away with it, because there is some rule that the ticket is not a contract.
Never really accepted that logic.
Maybe not, but they still sold him a ticket and put him in a seat.
“So it is accepted practice by all airlines to overbook.”
I find overbooking, unacceptable.
We blame United, because it was their fault. We have all been abused/treated poorly by airlines, especially after 9/11.
No, he’s no saint, and that’s irrelevant. It’s like randomly picking 1 of 10 people to be shot.
Once again, the airlines ignore the old maxim of business, “the customer is always right.” To the airlines, the customer is never right. One of the flight crew should have been taken off, driven, or flown by charter/private plane.
There is no need to overbook. You’ve already PAID for the ticket. If you don’t show up, airline still makes money.
Might be a good time to buy it.
There are situations that come up where a passenger may have to give up a seat. That’s real world. They asked him nicely, and offered up to a $1000, plus other flight options.
He was repeatedly belligerent and acting childish.
Sorry, if he’s acting like a childish liberal, he can be treated like one.
You know what is crazy, is that a Jet’s fan sued the NFL in 2007, because he came to reality that the NFL was fake. The ruling:
“At best, he possessed nothing more than a contractual right to a seat from which to watch an NFL game between the Jets and the Patriots, and this right was clearly honored,” Cowen wrote.
So what is the difference between paying for a seat in a stadium and paying for a seat on a plane?
“Maybe not, but they still sold him a ticket and put him in a seat. “
Exactly. If they oversell they they better get another airline fast!!!
“So it is accepted practice by all airlines to overbook”
Accepted by who? Imagine any other industry (besides car rental which is just as bad) doing this...it wouldn’t be ‘accepted’.
And the airline really screwed up by boarding the plane first, and then having to drag this guy off. They should have offered cash and vouchers at the gate, and gone high enough to get a ‘taker’. But dragging the guy down the aisle is just stupid.
This story is beginning to stink like fish...
Why is the media going hell bent on tarnishing United? A couple weeks ago, wasn’t it the same airlines as the leggings of the employees daughter?
Google and the media have also been targeting UBER hard core for at least a year.
Unions? Not sure, but someone is trying to destroy United and is using the media.
If I don’t like the way you replied, does that allow me to go United on you?
Could have sent those 4 crew by private jet a lot cheaper...
THE FLIGHT WAS NOT OVERBOOKED!!
United kicked four already seated paying customers off the plane to make room for United employees.
Over booking is fraud. The seat is sold, it belongs to the person who booked it and paid for it whether or not it’s used.
United’s stock will recover. This is just an emotional play right now.
However, the REAL issue that no one is talking about is that this is so resonating simply because airline travel SUCKS! As long as the airlines arrogantly view their customers as serfs to be fleeced. The wrath will continue.
Ever shrinking seats.
Charging (hosing) people for their necessary luggage.
No food.
Crappy service.
Late flights.
Keeping passengers locked on grounded aircraft for hours.
I don’t condone the little screaming doctor as he could have handled this better, but United was wrong and the airlines in general desperately deserve to get kicked, and kicked hard! Up until now the airlines have gotten away with customer service murder with no one collectively being able to rail against them.
IIRC, there is a bill in Congress to start putting the brakes on the airline abuse, such as mandating a standard seat size. I am against government intervention, generally, but the airlines are acting as an unstoppable monopoly. They don’t give a rat about customers. The pinnacle of this is dragging a paying customer off a flight he paid for — for one of the airline’s own employee! Who, by the way could have ridden in the cockpit jump seat.
Outrageous.
As I have told them when bumped
“ you didn’t sell me an airline ticket, you sold me a lottery ticket.”
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