United Airlines provides a new apology after losing almost $1bn in trading

‘No one should ever be treated this way,’ said CEO, Oscar Muñoz, after seeing the company’s stock nosedive

United Airlines CEO, Oscar Muñoz, has issued a second apology about the man who was thrown off an overbooked flight the Sunday before last. This time he admitted that the incident was ‘truly horrific’.

‘No one should ever be mistreated this way,’ Oscar wrote in a new statement.

The apology arrived, unsurprisingly, after the company’s stock market value collapsed on Tuesday 11 April. Almost $1bn of the airline’s value was erased – a fall of over 4% – before noon. The company’s value rallied slightly later in the day, leaving the share price down 2.8%.

Muñoz was harshly criticised after his first official statement on Monday, when he apologised merely for having to ‘re-accommodate passengers’. He then proceeded to make matters even worse by accusing the man of being ‘disruptive and belligerent’ in a memo to staff.

As the company’s stock plunged, however, Muñoz had no choice but to change his PR strategy. Shortly after almost a billion dollars was knocked off United Airlines’ value, Muñoz issued another statement, promising that he was committed to ‘fix what’s broken so this never happens again.’

He also pledged to review the company’s policies for incentivising volunteers to give up their seats, handling oversold flights, and partnering with airport authorities and local law enforcement.

[Via The Guardian]


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