Buffett regrets United Airlines incident
Print Edition
WARREN Buffett acknowledges United Airlines made a “terrible mistake” in handling the fallout of a recent incident when a man was forcibly dragged off a United flight.
But the billionaire, whose Berkshire Hathaway Inc is the largest investor in the carrier’s parent United Continental Holdings Inc, admitted on CNBC television that flying has become less comfortable for passengers packed in tighter seats and on fuller flights.
The incident caught on video showed David Dao, a doctor, being forced out of his seat on the aircraft to make way for United staff. It left him with a broken nose and concussion.
It brought widespread criticism to the airline and its Chief Executive, Oscar Munoz, who initially defended the American carrier’s employees.
“Obviously it was a terrible mistake,” Buffett said. Munoz has since “apologized many times, but your first reaction is going to get a lot of attention.”
Berkshire is also one of the largest investors in United rivals American Airlines Group Inc, Delta Air Lines Inc and Southwest Airlines Co.
Buffett said this reflects his belief the industry has become much more efficient, even if passengers grumble. The Dao event wouldn’t change that.
“One of the things they found is that a very high percentage of people are very price conscious,” he said.
“They may become like cattle cars, but a significant percentage would rather be treated that way and fly for X than have far more leg room and fly for X plus 25 percent.”
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