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Delta flags $380M hit to revenue in current quarter from Crowdstrike outage

Investing.com -- Delta said Thursday that it expected to take a hit of about $380M hit to revenue in the current quarter from Crowdstrike outage that forced the carrier to cancel thousands of flights. 

The $380M estimated hit to revenue for the September quarter was "primarily driven by refunding customers for cancelled flights and providing customer compensation in the form of cash and SkyMiles," Ed Bastian, Delta’s Chief Executive Officer said Thursday in a regulatory filing. 

The company also estimated a non-fuel expense of $170M, primarily due to "customer expense reimbursements and crew-related costs."

Bastian said the length and magnitude of operational disruption from the outage, which resulted in 7,000 flight cancellations, was "unacceptable," and added that it was pursuing "legal claims against CrowdStrike (NASDAQ:CRWD) and Microsoft (NASDAQ:MSFT) to recover damages caused by the outage, which total at least $500 million.”

Delta Air Lines Inc (NYSE:DAL) was up 5% in recent trading.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.