The Denver Post
UNITED SHARES PLUNGE IN BIGGEST DECLINE SINCE 2009
DALLAS» Shares of United Airlines dropped more than 12 percent on Thursday — their biggest one-day percentage decline in eight years — after a contentious conference call that caused analysts to question whether United executives are making progress on their turnaround plan.
Analysts speculated whether a management shakeup could be coming.
United had already signaled that weak pricing will continue for the rest of this year. On the call, several analysts pressed management for evidence that the company is doing enough to raise revenue and control costs.
Shares of United Continental Holdings Inc. tumbled $8.21, or 12.1 percent, to close at $59.78.
It was the biggest one-day drop ever in price, and the biggest percentage decline since October 2009.
The shares have dropped 18 percent this year, while shares of American, Delta and Southwest airlines have gained between 6 and 18 percent.