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United Airlines Holdings Inc. is calling off an investor meeting scheduled for early May because it would “send the wrong message” to celebrate its performance in the wake of a series of headline-grabbing safety incidents.
The May 1 event will likely be rescheduled in the fall, when the carrier will discuss its “unique competitive advantages, new opportunities in loyalty and our bright future,” according to an email to investors and industry analysts April 5 that was reviewed by Bloomberg News.
The surprise decision highlights the seriousness of safety concerns that have emerged in recent weeks. The U.S. Federal Aviation Administration (FAA) is reviewing United’s safety procedures and considering measures that would curb the airline’s growth, including preventing it from adding new routes, Bloomberg reported in March. That followed a recent spate of incidents involving United aircraft, including a wheel that flew off a Boeing Co. jet after takeoff, a fuselage panel lost during flight and a plane that ran off a runway.
“Right now, our entire team is focused on cooperating with the FAA to review our safety protocols and it would simply send the wrong message to our team to have an exciting investor day focused primarily on financial results,” United said in the Friday message signed by its investor relations department.
Read More: United Air Asks Pilots to Take Unpaid Leave on Boeing Delays
United shares fell 1.8% as of 5:14 p.m. April 5, after the close of normal trading in New York. The stock had increased 4.7% this year through April 5.
The FAA will step up its presence in United operations to review the airline’s processes, manuals and facilities, the carrier’s vice president of corporate safety told employees in March.
The mishaps also triggered an internal review to determine if its safety training or procedures need to change, United chief executive officer Scott Kirby told customers in a message in March. “While they are all unrelated, I want you to know that these incidents have our attention and have sharpened our focus,” he said.
United said at the time it already had planned several changes, including an additional day of in-person training for pilots starting in May, and a centralized curriculum for new maintenance technicians. The airline is also dedicating more resources to supplier network management, Kirby said.
United is scheduled to report its first-quarter financial results on April 16.
In the case of the recent runway incident, a United captain appeared to stray from procedures for landing in slippery conditions before skidding off a wet runway in Houston, according to a preliminary report from the National Transportation Safety Board.
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