United CEO Blames FAA As Storms Force More Flight Cancellations: Report
Portfolio Pulse from Akanksha Bakshi
United Airlines CEO Scott Kirby blamed the FAA for exacerbating flight disruptions caused by recent storms, which led to thousands of flight cancellations. Kirby claimed that the FAA's air-traffic-control issues and staffing shortages led to a chain reaction of delays and cancellations. United, JetBlue, and Delta Air Lines all had to cancel a significant percentage of their flights due to the weather conditions.
June 28, 2023 | 12:49 pm
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JetBlue also had to cancel over 14% of its flights due to the storms, which could negatively impact the company's short-term revenues.
The flight cancellations due to storms could lead to a decrease in JetBlue's short-term revenues, which could negatively impact the company's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 75
NEGATIVE IMPACT
United Airlines faced significant flight cancellations due to storms, which were exacerbated by FAA issues according to the CEO. This could negatively impact the company's short-term revenues.
The flight cancellations due to storms and FAA issues could lead to a decrease in United's short-term revenues, which could negatively impact the company's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Delta Air Lines had to cancel around 8% of its flights due to the storms, but the CEO stated that the company is working to build durability around weather. The company also boosted its earnings forecast.
While the flight cancellations due to storms could negatively impact Delta's short-term revenues, the company's boosted earnings forecast and plans to build durability around weather could offset this impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 75