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Delta Air Lines takes USD120 million hit from Hurricane Irma

Wednesday, 4 October 20173 min read

Delta Air Lines said Hurricane Irma blew a $120 million hole in its bottom line.

That translates to 2,200 flight cancellations from September 7-12 in Florida, the Caribbean and Georgia.

In an investor update the airline said it gave flight change waivers for more than 40 destinations in affected areas and donated an additional $1.75 million to hurricane relief efforts.

It also capped airfares for flights to and from storm ravaged areas.

Still, analysts were expecting a more severe impact for the airline, initially pushing its share price up by more than 6%.

That gave the industry as a whole a boost with most airline stocks up, with JetBlue leading the way at 7.1%.

Delta said the negative impact represents about a one point margin.

Southwest Airlines recently announced it took a $100 million from the recent storms including Harvey.