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United Airlines to Hedge Funds: Today Is Our 90th Birthday - Leave Us Alone

United Airlines CEO Oscar Munoz

United Airlines (UAL - Get Report) , celebrating its 90th birthday Wednesday, seems to have arrived at an auspicious moment in its history.

Enthused by the soap opera story of an energetic CEO three months past a heart transplant, galvanized by an unwelcome assault from a couple of hedge funds, lifted by involvement in an airline industry that has achieved record profitability -- the rising tide lifting all boats -- and widely viewed as a company that possibly has begun to recover from two decades of performing below its capabilities, United seems to actually have something to celebrate.

Today's party has two major components.

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