United Airlines loses $800 MillionTop Stories

April 12, 2017 12:13
United Airlines loses $800 Million

People from all over the world are outraged after a passenger on United Airlines was dragged out from the plane, knowing that the passenger was an Asian doctor, the news caught everyone’s attention and we all know that video went viral on social media.

Although, the United Airlines CEO, Oscar Munoz offered an apology and called the company for an internal review of the matter, surely he could not have imagines the aftermath of that disgraceful act.

The shameful decision taken by the airline company has affected its share value by a huge margin. It is the key factor to decline the airline company’s capital value from $22.5 billion to $21.7 billion just in a matter of a few hours.

The international airline company has reportedly faced a loss of $830 Million, while the stocks are continuing to plunge.

The fall is said to be one of the biggest backlash for the United Airlines, which was trading well at $70.15 in New York Stock Exchange in the name of United Continental Holdings Inc.

If the loss is to be reported in the terms of Indian currency, the airlines just experienced a loss more than Rs 4846 crore.

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AMandeep

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