Market Insider

Shares of United fall for second day as controversy lingers

United CEO apologizes, says passenger not at fault
United CEO apologizes, says passenger not at fault

Shares of United Continental tumbled on Wednesday as controversy continued to dog the United Airlines parent.

The stock fell almost 1 percent in midmorning trade.

The company sparked outrage across social media after video surfaced of a passenger, Dr. David Dao of Kentucky, being dragged off an overbooked flight. The confrontation happened on a United Express flight operated by Republic Airways.

United Airlines CEO Oscar Munoz issued a statement on Tuesday, saying, "I continue to be disturbed by what happened on this flight and I deeply apologize to the customer forcibly removed and to all the customers aboard. No one should ever be mistreated this way."

In an interview with ABC's "Good Morning America" on Wednesday morning, Munoz assured viewers that, "This will never happen again ... that's my promise."

Shares of United turned positive, rising as much as 1 percent in premarket trade after the CEO's interview, before turning back negative.

Other airlines saw a boost in their share prices on Wednesday after better-than-expected earnings from Delta. Shares of Delta rose almost 2 percent in midmorning trade.