United Airlines (NYSE:UAL)
United Airlines Breaking News
Shares of United Airlines are set to open lower Tuesday following breaking news of a passenger being forcibly dragged off a plane after the company overbooked the flight.
What was concerning about this physical altercation was they needed to make room for an employee of UAL after the company was at fault for overbooking the flight.
Cell phone footage was captured of police dragging the man down the aisle and posted on Twitter, which instantly went viral. The company has released statements defending their stance but are reviewing the details of the matter.
Video of the incident can be viewed here.
CEO Comments
Our team is moving with a sense of urgency to work with the authorities and conduct our own detailed review of what happened...We are also reaching out to this passenger to talk directly to him and further address and resolve this situation.
In a statement, United said,
We apologize for the overbook situation.
UAL Technicals
Shares of $UAL are looking to open lower following the breaking news yesterday with prices hitting pre-market lows of $67.08 after closing Monday at $71.52, marking a 6.2% drop in value over night.
Depending on where shares open we could see $68 act as support or resistance along with $66 and $70. Shares should remain active today as traders look to take advantage of the volatility caused by this incident.
Shares have been fairly quiet the past few months as they continue to fight to break the major resistance at $76.
Keep this one on your radar today as there should be plenty of opportunity to take advantage of.
Company Profile
United Continental Holdings, Inc. (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc. (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America.
The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B. Won Pat International Airport (Guam), San Francisco International Airport (SFO) and Washington Dulles International Airport (Washington Dulles).
It has contractual relationships with regional carriers to provide regional jet and turboprop service branded as United Express. These regional operations are an extension of the Company’s mainline network.