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☆ U.S. airlines cool hiring after adding 194,000 employees in post-Covid spree
▼ + stars: | 2024-09-06 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +5 min

U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. It’s a departure from the previous years when airlines couldn’t hire employees fast enough. U.S. airlines are usually adding pilots constantly since they are required to retire at age 65 by federal law. Then, travel demand snapped back faster than expected, climbing in earnest in 2022 and leaving airlines without experienced employees like customer service agents. “We will be hiring for the foreseeable future at levels like that,” he said at the time.

Persons: Kit Darby, they’ll, Raymond James, Savanthi, Tammy Romo, Robert Isom, “, ”, Ken Byrnes Organizations: U.S . Department of Transportation, Airlines, Boeing, Airbus, U.S, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, JetBlue Airways, Spirit Airlines, Pratt & Whitney, Frontier Airlines, Dallas, ”, ” United Airlines, —, FedEx, UPS, American, Embry, Riddle Aeronautical University Locations: U.S, ” United

☆ Here's where American Airlines is adding flights to Europe in summer 2025
▼ + stars: | 2024-09-05 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. As social media feeds make their seasonal shift from the Parthenon to pumpkin patches, airlines are busy preparing for the 2025 Europe travel season, a bet that strong demand for international travel will continue next summer. American Airlines on Thursday unveiled new routes to Europe for spring and summer next year. Rivals United Airlines and Delta Air Lines are expected to release their 2025 travel plans in the coming weeks. American said its trans-Atlantic capacity next summer will be up low-to-mid-single digits over this year, with executives confident that consumers will continue to prioritize travel.

Persons: Charlotte ,, Brian Znotins, American's Organizations: Boeing, American Airlines, Milan, Rivals United Airlines, Delta Air Lines Locations: Barcelona, Europe, Chicago, Madrid, Philadelphia, Edinburgh, Scotland, Charlotte, Charlotte , North Carolina, Athens, Greece, Miami, Rome, Italy

☆ CrowdStrike beats quarterly consensus but lowers full-year guidance
▼ + stars: | 2024-08-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Annual recurring revenue was $3.86 billion, just above the StreetAccount consensus of $3.85 billion. With respect to guidance, CrowdStrike called for adjusted net earnings of 80 cents to 81 cents per share on $979.2 million to $984.7 million in revenue. For the 2025 fiscal year, CrowdStrike now sees $3.61 to $3.65 in adjusted earnings per share and $3.89 billion to $3.90 billion in revenue. That is down from management's June forecast for adjusted earnings per share of $3.93 to $4.03 and revenue between $3.98 billion to $4.01 billion. The adjusted guidance excludes costs tied to the outage.

Persons: George Kurtz, Burt Podbere, Gray Powell, Trevor Rambo, BTIG, CrowdStrike, Podbere, Kurtz Organizations: Delta Air Lines, Travelers, CrowdStrike Locations: management's

☆ Delta chief operations officer departing for another company after just over a year on the job
▼ + stars: | 2024-08-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Delta Air Lines ' chief operating officer is leaving at the end of the month, the company said in a securities filing on Friday. CEO Ed Bastian said in an employee memo that Chief Operations Officer Mike Spanos is taking a job at another company. Delta doesn't plan to replace Spanos, Bastian said. Instead, John Laughter, the chief of operations and president of Delta's TechOps maintenance-and-overhaul unit, and Allison Ausband, chief customer experience officer, will report to Bastian. Spanos joined Delta in May 2023 and previously held the role of CEO at Six Flags Entertainment and executive positions at PepsiCo .

Persons: Ed Bastian, Mike Spanos, Bastian, Spanos, John Laughter, Allison Ausband Organizations: Delta Air Lines, Delta, Microsoft, Six Flags Entertainment, PepsiCo Locations: Delta

☆ Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Delta Air Lines , which said fallout from the outage cost the company $550 million, is seeking damages from CrowdStrike and Microsoft. Software from CrowdStrike Check Point , SentinelOne and others in the endpoint-protection market currently depend on kernel mode. But an application in kernel mode that fails can cause all of Windows to crash. The Microsoft executive said removing kernel access in Windows would only solve a small percentage of potential problems. "We will share further updates on these conversations following the event," Microsoft Corporate Vice President Aidan Marcuss wrote in a blog post.

Persons: CrowdStrike, Aidan Marcuss Organizations: Delta Airlines, Microsoft, Delta Air Lines, CNBC, Windows, Apple, Rust Foundation, Microsoft Corporate Locations: Los Angeles, Airlines, Redmond , Washington, SentinelOne, macOS

☆ Private jet flights are down 15% in two years as Covid-era demand wanes
▼ + stars: | 2024-08-16 | by ( Robert Frank | ) www.cnbc.com time to read: +7 min

Private jet flights fell 15% in the first half of the year compared with their peak in 2022, as the industry grapples with waning demand and a new competitive landscape for high-end travel. Despite a short boost from the Summer Olympics, with a record 713 private jet flights to Paris the last week of July, the private jet industry continues to lose altitude this travel season. Jet It, a large U.S. private jet operator, shut down last year after grounding its fleet of Phenom 300s, Gulfstream G150s and HondaJets. Private jet passengers who paid six figures for flights started facing delays and cancellations as operators couldn’t buy or lease planes fast enough. “Prices are about 20% higher than they were in 2019,” Private Jet Card Comparisons' Gollan said.

Persons: Washington's, J, David Ake, Robert Frank, Covid, Rob Wiesenthal, George Mattson, VistaJet, Thomas Flohr, Doug Gollan, ”, Jay Duckson, —, ‘, I’m, Gollan, Travis Kuhn, “ It’s, ” Gollan, Berkshire Hathaway, ” Kuhn, “ Organizations: Gulfstream, Washington's Reagan National Airport, Getty, Private, Summer, Argus International, Blade Air Mobility, Delta Air Lines, CNBC, Industry, Central Business Jets, Companies, Jefferies, Argus, Berkshire Locations: Arlington , Virginia, Paris, U.S, Covid, Argus, “

☆ Delta says chaos after CrowdStrike outage cost it $550 million
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +1 min

Delta Air Lines on Thursday said last month’s CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing legal claims against the company as well as Microsoft. The incident, in which it canceled some 7,000 flights, also meant a $170 million expense “associated with the technology-driven outage and subsequent operational recovery,” the carrier said, adding that its fuel bill will likely be $50 million lower because of the scrubbed flights. Delta struggled more than its competitors to recover from the July 19 outage, which took millions of Windows-based machines offline around the world. The disruptions occurred at the height of the summer travel season, leaving thousands of Delta customers stranded, a rare incident for the carrier that markets itself as a premium carrier that gets top marks for reliability. “Since the incident, our people have returned the operation to an industry-leading position that is consistent with the level of performance our customers expect from Delta.”

Persons: Ed Bastian Organizations: Delta Air Lines, Microsoft, Delta Locations: Atlanta, Delta

☆ Delta says chaos after CrowdStrike outage cost it $380 million in revenue
▼ + stars: | 2024-08-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Delta Airlines Airbus A319-114 aircraft taxis at Los Angeles International Airport after arriving from Las Vegas on May 5, 2024 in Los Angeles, California. Delta Air Lines on Thursday said last month's CrowdStrike outage and subsequent mass flight cancellations cost it some $550 million and reiterated that it is pursuing damages against the company as well as Microsoft . Delta struggled more than its competitors to recover from the July 19 outage, which took millions of Windows-based machines offline around the world. "Since the incident, our people have returned the operation to an industry-leading position that is consistent with the level of performance our customers expect from Delta." The U.S. Department of Transportation last month said it is investigating Delta's response to the outage and flight cancellations.

Persons: Ed Bastian, CrowdStrike Organizations: Delta Airlines Airbus, Los Angeles International Airport, Delta Air Lines, Microsoft, Delta, U.S . Department of Transportation Locations: Las Vegas, Los Angeles , California, Atlanta

☆ Delta passengers sue airline over refund refusals after CrowdStrike meltdown
▼ + stars: | 2024-08-07 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

“The impact on Delta passengers was disastrous,” the lawsuit said. In other cases, it would only offer partial reimbursement if passengers signed a waiver releasing the airline of any legal claims. On Monday, July 22, Delta canceled more than 1,250 flights — making up nearly 70% of all domestic cancellations, the lawsuit said. In response, Delta offered Plaintiff a $100 voucher to use towards a future flight with Delta,” the lawsuit said. Both companies claimed Delta ignored their repeated offers for help as passengers were left stranded in airports across the country.

Persons: Delta, —, “, ” Delta, Pete Buttigieg, Ed Bastian, Bastian, CrowdStrike, ”, you’ve, ” Bastian, David Boies, Michael Carlinsky Organizations: New, New York CNN, Delta Air Lines, Microsoft, Delta, Greyhound, CNBC, CNN, IBM Locations: New York, Denver, Amsterdam, Delta, Atlanta

☆ Microsoft lashes out at Delta: Your ancient tech caused the service meltdown
▼ + stars: | 2024-08-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

Microsoft also claimed Delta turned down help after the CrowdStrike bug led to “blue screens of death” on Windows devices. Microsoft, CrowdStrike and Delta have been in a war of words since the airline hired a high-profile attorney to seek compensation from Microsoft and CrowdStrike. Delta CEO Ed Bastian lashed out at CrowdStrike in a CNBC interview last week and said the computer problems cost Delta $500 million. While other airlines were quick to resume normal operations after the CrowdStrike outage, Delta was forced to cancel about 30% of its schedule over those five days, leaving an estimated half-million passengers stranded. Free consulting advice to help us,” said the Delta CEO in an interview on CNBC.

Persons: cancelations, Delta, Ed Bastian, CrowdStrike, Mark Cheffo, “, ”, Satya Nadella, Bastian, you’ve, ” Bastian, David Boies, George Kurtz, Michael Carlinsky, —, CNN’s Chris Isidore Organizations: New, New York CNN, Microsoft, Delta Air Lines, CNBC, Delta, IBM, CNN, CrowdStrike Locations: New York, CrowdStrike, Delta

☆ Tuesday's analyst calls: Taiwan Semiconductor a buying opportunity, CrowdStrike upgraded
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

He increased his price target by $25 to $575, which suggests shares can jump about 20.9% over the next year. Rollins upgraded the stock to neutral from sell and upped his price target from $1.25 to $3.15 per share, which implies roughly 21.6% potential upside. Analyst Rick Wise initiated coverage of GE Healthcare with a buy rating and $100 price target, which suggests 22.7% upside. Analyst Rob Owens upgraded the global cybersecurity company to overweight from neutral and lowered his price target by $20 to $290, which implies 30.6% upside. Its price target of 1,200 Taiwanese dollars implies upside of 36.4%.

Persons: Morgan Stanley, Piper Sandler, Rob Sanderson, Sanderson, — Pia Singh, Michael Rollins, Rollins, Lumen, Rick Wise, Wise, CrowdStrike, Rob Owens, Owens, pare, Price, Charlie Chan, Chan, Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Meta, Citi, Lumen Technologies, GE Healthcare, Delta Air Lines, Microsoft Locations: U.S

Mark Cheffo, a Dechert partner representing Microsoft, sent a letter Tuesday to attorney David Boies of Boies Schiller Flexner. Boies represents Delta and had sent letters on behalf of the airline to CrowdStrike and Microsoft. Cheffo wrote in his response that Microsoft empathizes with Delta and its customers on the impact of the CrowdStrike incident. Cheffo wrote that Microsoft offered to help Delta for free. Cheffo described a letter on July 22, from Microsoft to a Delta employee, offering help.

Persons: Ed Bastian, CNBC's, Mark Cheffo, David Boies, Boies Schiller, Boies, Hossein Nowbar, Cheffo, Delta, Satya Nadella, Bastian, CrowdStrike, George Kurtz Organizations: Microsoft, Delta Air Lines, Delta, IBM, Web Services Locations: Boies, Delta, Atlanta

☆ CrowdStrike is sued by fliers after massive outage disrupts air travel
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +2 min

Travelers wait to board their delayed flight at the Hartsfield-Jackson Atlanta International Airport on July 23, 2024 in Atlanta, Georgia. CrowdStrike 's legal troubles from last month's massive global computer outage deepened on Monday, as the cybersecurity company was sued by air travelers whose flights were delayed or canceled. CrowdStrike said in a statement: "We believe this case lacks merit and we will vigorously defend the company." Delta faces a U.S. Department of Transportation probe into why it needed more time than rivals to recover from the outage. Monday's case is del Rio et al v CrowdStrike Inc, U.S. District Court, Western District of Texas, No.

Persons: CrowdStrike Organizations: Hartsfield, Jackson Atlanta International Airport, Southwest Airlines, Delta Air Lines, Austin, U.S . Department of Transportation, CrowdStrike Inc, Western District of Locations: Atlanta , Georgia, Austin , Texas, Atlanta, Rio et, Western District, Western District of Texas

☆ CrowdStrike Hits Back in Heated Spat With Delta Over Global Tech Outage
▼ + stars: | 2024-08-05 | by ( Lauren Hirsch | More About Lauren Hirsch | ) www.nytimes.com time to read: +1 min

The legal saber rattling between the cybersecurity company CrowdStrike and Delta Air Lines over the global I.T. outage last month just ratcheted up a notch. The blame for Delta’s woes lies with the airline alone, the lawyers wrote. The letter was in response to Delta’s hiring of David Boies, a prominent litigator, and saying that it would seek damages over the outage, which it said cost it $500 million. Shares in both companies have plunged since the July 19 outage, with CrowdStrike down more than 35 percent.

Persons: Quinn Emanuel Urquhart, Sullivan, David Boies, Pete Buttigieg —, ”, we’re Organizations: Delta Air Lines, The New York Times, NPR, Transportation Locations: Delta

☆ CrowdStrike is denying Delta's claims it was to blame for thousands of flight disruptions
▼ + stars: | 2024-08-05 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

CrowdStrike denies Delta's claims that the firm is responsible for thousands of flight disruptions. CrowdStrike wrote in a letter that it "strongly rejects" the airline's allegations. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: CrowdStrike, Delta's, Ed Bastian, —, Michael Carlinsky, Quinn Emanuel Urquhart, Sullivan Organizations: Service, Delta Air Lines, Business Locations: Delta, Texas

Travelers wait in line, as a flight board shows delays, on the check-in floor of the Delta Air Lines terminal at Los Angeles International Airport (LAX) on July 23, 2024 in Los Angeles, California. CrowdStrike on Sunday said Delta Air Lines had rejected onsite help during last month's massive outage that sparked thousands of flight cancellations. Delta CEO Ed Bastian told CNBC's "Squawk Box" last week that the mass cancellations following the outage, which occurred at one of the busiest times of the year, cost the company about $500 million, including customer compensation. In response, Michael Carlinsky, CrowdStrike lawyer and co-managing partner at Quinn Emanuel Urquhart & Sullivan wrote to Delta's lawyer David Boies on Sunday that Delta's litigation threats "contributed to a misleading narrative that CrowdStrike is responsible for Delta's IT decisions and response to the outage." He said CrowdStrike's CEO George Kurtz reached out to Bastian to "offer onsite assistance, but received no response."

Persons: CrowdStrike, Ed Bastian, CNBC's, Bastian, Boies Schiller, Michael Carlinsky, Quinn Emanuel Urquhart, Sullivan, David Boies, George Kurtz Organizations: Delta Air Lines, Los Angeles International Airport, Microsoft Locations: Los Angeles , California

☆ Delta CEO offers employees free flights after CrowdStrike-Microsoft chaos
▼ + stars: | 2024-08-02 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +1 min

Delta Air Lines CEO Ed Bastian on Friday offered employees two free travel passes to thank staff members who were caught in massive disruptions last month sparked by a botched CrowdStrike software update that stranded thousands of customers and crew. Delta had more trouble than competitors in recovering from the outages that took thousands of Windows machines offline. The disruption “has been a humbling moment for our company,” Bastian said in his note on Friday, which was seen by CNBC. Its executives frequently point out Delta’s work to win over customers willing to pay more to fly the carrier, marketing itself as a premium airline. Bastian said Delta plans to pursue legal action against CrowdStrike and Microsoft “to recover our losses caused by the outage” and that it has hired law firm Boies Schiller Flexner.

Persons: Ed Bastian, Bastian, ” Bastian, “, Delta, Boies Schiller, ”, CrowdStrike didn’t Organizations: Delta Air, Delta, CNBC, CrowdStrike, Microsoft

☆ Why the market's most-regulated companies need military-grade cybersecurity
▼ + stars: | 2024-08-02 | by ( Barbara Booth | ) www.cnbc.com time to read: +8 min

Finance, health care and other regulated industries should consider their specific needs and tailor their defenses with military-grade components, he added. The implementation of military-grade cybersecurity is not without challenges. In 2024, regulated industries have witnessed a significant increase in both the number and cost of data breaches. Frederic Rivain, chief technology officer of Dashlane, holds a contrarian view on the need for military-grade defenses. "Multifactor authentication is important, and you must have it, but you still need to have multiple layers," Two Bears said.

Persons: CrowdStrike, Javad Abed, Abed, shouldn't, Cole, Didi, National Intelligence Avril Haines, Gen, Gary Orenstein, Orenstein, doesn't, Frederic Rivain, Rivain Organizations: Johns Hopkins Carey Business School, Delta Air Lines, Finance, IBM, Ponemon Institute, Bears, Amazon, Data, Verizon, National Intelligence, Employees Locations: ThinkGard, U.S, China, America

☆ Delta CEO says IT outage cost the airline $500 million, and it has 'no choice' but to seek damages from CrowdStrike
▼ + stars: | 2024-08-01 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

Delta CEO said the IT outage cost $500 million in losses from revenue and passenger compensation. The tech issues, linked to a flawed CrowdStrike update, led to over 5,000 flight cancellations. CEO Ed Bastian said in an interview with CNBC that the carrier has "no choice" but to seek damages. AdvertisementDelta Air Lines CEO Ed Bastian said the mass IT outage, which resulted in days of delays and cancellations, cost the airline $500 million. Delta canceled several thousand flights over several days after an IT meltdown caused by a flawed update issued by Texas-based cybersecurity firm CrowdStrike.

Persons: Ed Bastian, —, CrowdStrike, Bastian Organizations: Delta, CNBC, Service, Air, Business Locations: Texas

☆ CrowdStrike is sued by shareholders over huge software outage
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +2 min

CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike's software as "validated, tested and certified." Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers. CrowdStrike shares closed on Wednesday down $1.69 at $231.96. The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No.

Persons: George Kurtz, CrowdStrike, David Boies, Kurtz, " Kurtz, Burt Podbere, Ed Bastian Organizations: Crowdstrike Holdings Inc, Bloomberg Technology, RSA Conference, U.S . Congress, Delta Air Line, Retirement Association of, Delta, CNBC, Retirement, Western District of Locations: San Francisco , California, Austin , Texas, Austin, Plymouth, Retirement Association of Plymouth , Massachusetts, U.S, Western District, Western District of Texas

☆ How Soter Analytics uses AI to assess hazards, risks, and violations for 90 companies
▼ + stars: | 2024-07-31 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Ninety companies are using the AI, which can detect violations from uploaded photos and videos. This article is part of "CXO AI Playbook" — straight talk from business leaders on how they're testing and using AI. But Goetsch said Soter's AI platform could identify hazards, risks, and violations within about 30 seconds. Soter said about 90 companies were using SoterGenius, including Delta Air Lines, Ramp Health, Boston Children's Hospital, and the insurance brokerage Marsh. For example, Goetsch said one company using SoterGenius recently purchased electric forklifts and installed charging stations.

Persons: —, We've, Soter, Mike Goetsch, Goetsch, SoterGenius, it's, What's Organizations: Service, Ikea, DHL, Occupational Safety, Health Administration, Federal Aviation Administration, Delta Air Lines, Health, Boston Children's Hospital Locations: London

☆ Delta CEO lashes out at CrowdStrike: This cost us $500 million and they offered us nothing
▼ + stars: | 2024-07-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —The CEO of Delta Air Lines lashed out at cyber security firm CrowdStrike and software provider Microsoft for the computer problems that resulted in a five-day service meltdown he said cost the airline $500 million. Free consulting advice to help us,” said Ed Bastian in an interview Wednesday on CNBC, when asked about how much compensation CrowdStrike and Microsoft have offered the company. And he blasted CrowdStrike for the flawed software update at Delta and hundreds of other companies around the globe that caused widespread computer outages on July 19. “If you’re going to have priority access to the Delta ecosystem in terms of technology, you’ve got to test this stuff,” Bastian said. Delta is a sponsor and the official airline of the US Olympic team, and CNBC’s NBC parent has the US broadcast rights to the games.

Persons: ”, Ed Bastian, CrowdStrike, you’ve, ” Bastian, David Boies, “, Bastian Organizations: New, New York CNN, Delta Air Lines, Microsoft, CNBC, Delta, CNN, US Olympic, NBC Locations: New York, Paris

☆ Delta Air Lines CEO on CrowdStrike outage: Cost us half a billion dollars in five days
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO on CrowdStrike outage: Cost us half a billion dollars in five daysDelta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the fallout from the CrowdStrike-Microsoft outage earlier this month, lessons learned from the incident, what the proper compensation should be, state of the airline industry, and more.

Persons: Ed Bastian Organizations: Air Lines, Delta Air, Microsoft

Ed Bastian, chief executive officer of Delta Air Lines Inc., during an interview in New York, US, on Monday, Nov. 7, 2022. Bastian said that he sees 'strong demand' for flights carrying into 2023. Delta Air Lines CEO Ed Bastian said the massive IT outage earlier this month that stranded thousands of customers will cost it $500 million. The airline canceled more than 4,000 flights in the wake of the outage, which was caused by a botched CrowdStrike software update and took thousands of Microsoft systems around the world offline. Other airlines recovered faster, and Delta's cascading disruptions and customer response sparked an investigation by the U.S. Department of Transportation.

Persons: Ed Bastian, Bastian, CNBC's Organizations: Delta Air Lines Inc, Delta Air, Microsoft, U.S . Department of Transportation Locations: New York, Paris

☆ CrowdStrike shares plunge 11% to lowest level of the year on report that Delta may seek damages
▼ + stars: | 2024-07-30 | by ( Katie Bartlett | ) www.cnbc.com time to read: +1 min

CrowdStrike shares fell tumbled 11% on Tuesday to their lowest level of the year following a report that Delta Air Lines hired prominent attorney David Boies to seek damages from the security software vendor. CrowdStrike fell $28.98 to $228.83 as of early afternoon trading. Late Monday, CNBC's Phil Lebeau reported that Delta hired Boies, chairman of Boies Schiller Flexner, to seek compensation from CrowdStrike and Microsoft . No suit has been filed, Lebeau reported, and Delta didn't respond to a request for comment. The Department of Transportation said last week that it's investigating Delta due to the widespread flight disruptions and service failures.

Persons: CrowdStrike, David Boies, CNBC's Phil Lebeau, Boies, Boies Schiller, Lebeau, Harvey Weinstein, Elizabeth Holmes Organizations: Delta Air Lines, Microsoft, Delta, Department of Transportation, U.S, Hollywood

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