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Alternative Market Briefing

United Flight Attendants join picket at hedge funds PAR Capital and Altimeter headquarters

Thursday, April 07, 2016

Komfie Manalo, Opalesque Asia:

A group of flight attendants of United Airlines (UAL) has joined pilots of the carrier and picketed the headquarters of hedge funds PAR Capital Management and Altimeter Capital Management on Wednesday (Apr. 6). The United Flight Attendants (UFA) have described the hedge funds as hostile, which are distracting United Airlines’ new leadership to improve, by seeking to wrestle control of the UAL board.

The group claims that attendants, other employees, passengers and economists recognize that the hedge funds’ move is about short-term gain in share price, not long-term success for United Airlines.

"These investors are creating a distraction at just the wrong time if their interest is truly in turning around United and building an airline that will again lead the industry with performance, profits, share price and most importantly, engaged employees who take pride in the place where they work," said Andrew Fahy, United AFA Boston local president, in a statement.

He added, "Oscar Munoz has stated his top priority is completing contract negotiations for Flight Attendants and making United, united. These hostile hedge funds need to let him do his job so we can do our job with passengers and all of us can access the full benefits of a completed merger."

United Airlines celebrated its 90......................

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