United Continental Holdings

United settles with SEC over 'chairman's flight'

United settles with SEC over 'chairman's flight'

The "chairman's flight" from New Jersey to South Carolina will cost $2.4 million for the parent company of Chicago-based United Airlines.

The U.S. Securities and Exchange Commission and United Continental Holdings said Friday they've settled charges over records violations in a civil case where shareholders wound up footing the bill so a public official could get more convenient flights.

United had reinstated an unprofitable nonstop flight between Newark, N.J., and Columbia, S.C., due to pressure from David Samson, the then-chairman of the Port Authority of New York and New Jersey, the SEC found in its investigation. Samson had sought a more convenient route to his...

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