Actionable news
All posts from Actionable news

United Airlines Reaches Non-Prosecution Agreement In Port Authority Investigation

CHICAGO, July 14, 2016 /PRNewswire/ -- United Continental Holdings, Inc. (NYSE: UAL) reported today that it has reached a resolution in the form of a Non-Prosecution Agreement with the United States Attorney's Office for the District of New Jersey (the "USAO") in connection with its Port Authority investigation. Under the agreement, the USAO will not prosecute United in connection with United's establishment of a flight between Newark Liberty International Airport in New Jersey and Columbia Metropolitan Airport in South Carolina, provided that United complies with the agreement for two years. In addition, United has agreed to pay a financial penalty of $2.25 million.

"As we move forward, continuing to earn and keep the trust of our employees, customers, shareholders, and the communities we serve around the world remains critical to our success," said Oscar Munoz, President and Chief Executive Officer of United. "We will continue to act with the utmost integrity in everything we do, ensuring that we are always conducting business ethically and with the best interests of all of our stakeholders in mind."

In the agreement, the USAO recognized United's "extensive, thorough, timely and voluntary cooperation" as...