(Reuters) – Shares of United Airlines fell about 5% in premarket trade on Monday after the U.S. 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.”
(This story has been refiled to fix a syntax error in the headline)
(Reporting by Nathan Gomes in Bengaluru; Editing by Tasim Zahid)
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