Shares of United Airlines (NASDAQ:UAL) witnessed a decline of approximately 6% on Monday following the announcement by the U.S. Federal Aviation Administration (FAA) of heightened oversight of the carrier in light of recent safety incidents.
Last week, the FAA disclosed its decision to undertake a formal evaluation to ensure that the Chicago-based airline was adhering to safety regulations.
In the past two weeks, United Airlines has encountered several safety incidents. On March 15, an external panel was discovered missing from one of its aircraft upon landing in Oregon, prompting an investigation by the FAA.
Before this occurrence, a Boeing 737 MAX operated by United Airlines veered onto the grass in Houston. Additionally, a United-operated Boeing 777-200, en route to Japan, experienced a tire blowout shortly after departing from San Francisco, necessitating a diversion to Los Angeles, where it landed safely.
United also acknowledged earlier this month that its Boeing deliveries for the year would be significantly delayed, expressing uncertainty regarding the certification timeline for the MAX 10 model.
As a result of these developments, United’s shares were trading at $43.87 in Monday morning activity.
Featured Image: Freepik
Author Faith Yakubu 
