United CEO Oscar Munoz has called the April 9 incident in which passenger David Dao was dragged off United Flight 3411, "a watershed moment" for the company.

"It is obvious from recent experiences that we need to do a much better job serving our customers," Munoz said in a statement. "The incident that took place aboard Flight 3411 has been a humbling experience, and I take full responsibility."

United recorded net income of $96 million in the first quarter, down from $313 million a year ago. Operating revenue jumped 2.7%, but expenses increased 7.9% as salaries went up and fuel costs rose.

United will hold its earnings call at 10:30 a.m. Eastern time Tuesday.

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