United CEO Apologizes Again for Passenger Dragging Incident
United Continental Holdings on Monday released first-quarter earnings that matched analysts’ expectations on several key measures, and again apologized for the forceful removal of a passenger from a flight last week.
The parent company of United Airlines, the U.S. industry’s third-largest by passenger traffic, reported earnings of 41 cents per share, excluding special items, beating analysts’ consensus forecast of 38 cents.
Revenue of $8.4 billion was up 2.7 percent year-over-year, slightly above the average estimate of $8.38 billion.
“In the first quarter of 2017, our financial and operational performance gives us a lot of confidence about the foundation we are building. It is obvious from recent experiences that we need to do a much better job serving our customers,” Chief Executive Oscar Munoz said in a statement.
United is recovering from a public relations debacle after a passenger, Dr. David Dao, was dragged from his seat off the plane in O’Hare International Airport to make space for crew members.
“The incident that took place aboard Flight 3411 has been a humbling experience, and I take full responsibility. This will prove to be a watershed moment for our company, and we are more determined than ever to put our customers at the center of everything we do,” Munoz said.
United (UAL) shares rose 2.46 percent after closing 1.7 percent higher at $70.77.
This story has been updated throughout.