Vastavam Web: This is a lesson for United airlines for brutal behavior with its passenger. Due to the un human behavior, the market value of the company was dropped in share market.Even as the internet kicked up a maelstrom of outrage, investors still thought United Airlines’ decision to forcibly eject a customer from an overbooked flight would have little effect on the company’s profits.
But that changed Tuesday, when shares of United fell as much as 6.3% in pre-market trading, dropping $1.4 billion from the now $21 billion company by market cap. By early trading Tuesday, shares were down 4%.It didn’t help that apologies from United and its CEO Oscar Munoz were deemed tone deaf and insensitive by many on social media. Or that more video footage surfaced throughout the day Monday showing the passenger bleeding from the head and clinging to a curtain on the aircraft. The incident even prompted an investigation by Department of Transportation.