Shares of
United Airlines
fell about 5% in premarket trade on Monday after theUS Federal Aviation Administration’s (
FAA
) move to increase its
oversight
of the carrier after a series of recent safety incidents.
Last week, the FAA said it would initiate a formal evaluation to ensure the
Chicago-based airline
was complying with safety regulations.
The airline has experienced several safety incidents in the past two weeks.
On March 15, an external panel was found missing from a United aircraft when it landed in Oregon, prompting an FAA investigation.
Before that incident, a United Airlines-operated Boeing 737 MAX rolled onto the grass in Houston. A United-operated Boeing 777-200 bound for Japan also lost a tire after takeoff from San Francisco and was diverted to Los Angeles, where it landed safely.
Earlier this month, United also said that its Boeing deliveries were going to be “way behind this year,” adding that it was “impossible to say when MAX 10 is going to get certified.”