Short Term Thinking: Trading Long Term Improvements for Short Term Dividends
The first thing management did in their “cash conservation mode” was to cancel $200 million worth of non-aircraft capital projects this year— in effect, to pay for last year’s $250 million dividend to shareholders.
This is, in a nutshell, everything that’s wrong with Glenn Tilton’s United Airlines. A one-time dividend payment to cause a brief increase in share value quite literally took the place of capital improvements that would have improved the passenger experience and provided real long-term value to shareholders.
If you’re as outraged as we are, why not send Glenn Tilton an email right now?
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