United Airlines Has Already Lost $600 Million in Market Value Today
Tuesday the major airline was hit big time where it hurts. Wall Street.
The stock of United’s parent company, United Continental Holdings, closed Monday at $71.52 a share, with a market capitalization of $22.5 billion — actually rising about 1 percent on the day despite the avalanche of bad publicity.
Was it possible that Wall Street was actually encouraged by United’s relentless pursuit of shareholder value in trying to maximize the load factor of its airplanes, draggings and all? (United also reported a 3 percent year-over-year increase in March traffic later on Monday, likely a bigger factor in the day’s performance.)