FAA Warns US Airlines of Saudi Airspace Risks, Delta's Riyadh Launch in Doubt
DAL sits 49% above its 52-week low of $55.03 on elevated volume (1.9× avg).
Summary
The FAA issued a formal notice through Dec. 10 warning US airlines of potential risks at all altitudes over Saudi Arabia after deadly attacks on Riyadh's airport. Saturday's strike killed 13 and wounded over 300, and a Sunday attack killed another person. Delta's planned Oct. 23 Atlanta-Riyadh launch is now less than two weeks away, and the airline has not announced a delay. CEO Ed Bastian said last week that safety will decide whether to proceed. FedEx, which operates six weekly freighter flights to Riyadh, also faces exposure to the airspace warning.
At the time of this announcement, DAL was trading at $82.15 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: Benzinga.