More than 5,000 Delta flights cancelled due to IT outage

The Street
The Street
  • 3 months ago
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.
00:05Wall Street regained composure after the beating stocks took last week.
00:09The Dow, the S&P 500, and the Nasdaq all ended the day higher.
00:13Gains for the Dow, however, underperformed after Verizon missed sales estimates.
00:18Tuesday will be a busy day for earnings with results from marquee names like Coca-Cola,
00:23Google parent Alphabet, General Motors, UPS, Visa, and Tesla.
00:29In other news, Delta Air Lines is still reeling from the global technology meltdown
00:34that knocked 8.5 million computers offline.
00:37Delta canceled more than 5,200 flights between Friday and Monday.
00:41According to FlightAware, that's roughly 60% of all flight cancellations in the entire world.
00:48Delta has grounded one out of every six flights on its schedule,
00:52while competitors have only grounded 1% of theirs.
00:55Delta CEO Ed Bastian told customers in a note,
01:08The problem, of course, is not of Delta's making, but it does come at a precarious time.
01:13Delta's flights were already nearly filled to capacity for the peak summer travel season,
01:17and now with so many cancellations, they don't have enough seats to rebook passengers.
01:22This is likely to result in a financial hit as recent government regulations mandate refunds
01:27and compensation of meal vouchers and hotel rooms for stranded travelers.
01:32That'll do it for your daily briefing from the New York Stock Exchange.
01:35I'm Conway Gittens with The Street.

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