Delta CEO: Safety Will Decide Whether Riyadh Flights Launch Oct. 23
DAL sits 45% above its 52-week low of $55.03.
Summary
Delta CEO Ed Bastian said the airline is weighing whether to proceed with its planned Atlanta-to-Riyadh route after Houthi attacks escalated in Saudi Arabia, including an attack at Riyadh's King Khalid International Airport that killed three people. The flights are scheduled to begin Oct. 23, with daily service through Oct. 30 before shifting to three-times-a-week. Bastian said Delta will inform customers of its decision soon. This introduces operational and reputational risk for a route that was announced earlier this year as the first nonstop U.S.-Riyadh service by a U.S. airline. The decision comes amid a broader security deterioration in the region, which could affect forward bookings and route economics.
At the time of this announcement, DAL was trading at $79.75 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $54B. The 52-week trading range was $55.03 to $95.68. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Binance News.