What's Going On With Delta Airlines Stock As Flight Disruptions Continue?
Delta Air Lines, Inc. (NYSE:DAL) shares are on watch Tuesday. The U.S. Department of Transportation has opened an investigation into Delta Air Lines over ongoing flight disruptions.
The Details:
Transportation Secretary Pete Buttigieg announced the investigation Tuesday in a post on X.
"@USDOT has opened an investigation into Delta Air Lines to ensure the airline is following the law and taking care of its passengers during continued widespread disruptions. All airline passengers have the right to be treated fairly, and I will make sure that right is upheld," Buttigieg wrote.
"While you should first try to resolve issues directly with the airline, we want to hear from passengers who believe that Delta has not complied with USDOT-enforced passenger protection requirements during the recent travel disruptions. We will follow up," Buttigieg continued.
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Several major airlines canceled thousands of flights over the weekend following a faulty software update from CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Friday which resulted in global tech outages. Delta has struggled to recover from the outage and canceled more than 440 flights on Tuesday morning, according to flight tracking site FlightAware.
“We remain entirely focused on restoring our operation after cybersecurity vendor CrowdStrike's faulty Windows update rendered IT systems across the globe inoperable. Across our operation, Delta teams are working tirelessly to care for and make it right for customers impacted by delays and cancellations as we work to restore the reliable, on-time service they have come to expect from Delta,” Delta said on Tuesday in a statement to ABC News.
Delta shares have fallen nearly 5% over the past five days and are trading below the stock's 50-day moving average of $49.16, according to data from Benzinga Pro.
DAL Price Action: According to Benzinga Pro, Delta Air Lines shares are roughly flat at $43.89 at the time of publication Tuesday.
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