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Delta Air Lines takes USD120 million hit from Hurricane Irma
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.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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