Delta Airlines

Ticker DAL

Today's data summary

Market closed
% change
-0.88%
Price US dollars
22.48
Change
-0.20
As of 15:31 05 Apr 2020
Market cap. US dollars
14,724.32 million
As of 15:31 05 Apr 2020

Latest updates

More than 7,300 flights affected by Trump travel ban

empty airport in Rome
Getty Images

Mr Trump has acknowledged that his ban on travel from 26 European countries will have a “big impact”.

Let's put some numbers to that.

Last March, almost a third of America’s overseas visitors - about 850,000 people - came from European countries affected by the ban. They spent about $3.4bn, the US Travel Association estimates.

The ban will cancel more than 7,300 flights from Europe to the US, or more than 2 million seats, with Germany and France accounting for the largest numbers, according to analysis by Cirium.

No wonder airline shares were slammed on Thursday and countries such as France were offering government assistance.

Delta Air Lines and United – which Cirium said have the most affected flights - both saw shares drop more than 14%.

Airlines were bracing for a more than $100bn hit even before this ban. But the ramifications extend well beyond the industry.

Travel drives more than 10% of the global economy, accounting for 1 in 10 jobs worldwide, according to the World Travel & Tourism Council. In recent years it has been among the fastest growing sectors.

So if it’s hurting, others will too.

No plain sailing for travel stocks

Royal Caribbean cruiseship
Getty Images

Travel stocks have not had a good start to the day on Wall Street.

At 15:45, the Royal Caribbean cruise company had dropped by 7.29%.

Delta Airlines saw a fall of nearly 5%, down 2.26 points.

American Airlines was also down by 8.94%.

Some investors suspect that the travel industry will be badly hit by travel restrictions and a slowdown in business caused by the coronavirus outbreak.

My flight costs rose from £780 to £6,120

Fraser Mallen and his wife booked a flight to New York through Expedia with Thomas Cook
Fraser Mallen
Fraser Mallen and his wife booked a flight to New York through Expedia with Thomas Cook

In January, Fraser Mallen and his wife booked a holiday to New York for next month to celebrate the 53 year-old ex-coal miner's recovery from open heart surgery three years ago.

At the time, the flight was booked on a Thomas Cook plane and cost £779.

After Thomas Cook went bust on Monday, however, those prices have soared.

Mr Mallen booked the break through Expedia and he tells the BBC that he was contacted by a representative on Monday.

He was offered return flights to New York for two at £3,009.

But in the 10 minutes that it took for Mr Mallen to transfer additional funds into his bank account to pay for the tickets, he was told by Expedia that those flights had gone.

Instead, Expedia told him they could fly him and wife out on Virgin Atlantic for £1,489 each and back on Delta for £1,570 per ticket. That's a total of £6,118.

Mr Mallen will be reimbursed as Expedia said it will claim the money through ATOL.

But he says for others: "If you can't afford the new flight price up-front until the insurance comes through, you lose your holiday.

"You'll you get your money back but no holiday."

US airlines report service shutdowns

Southwest, Delta, and United airlines took to Twitter this morning to apologise for system-wide outages.

Southwest told fed-up passengers: "We're working through some technical difficulties".

Delta had a similar message for tired travellers: "Our team is working diligently to get this resolved and hope to have you on your way shortly".

United Airlines said: "It appears that we are experiencing an outage that is impacting our ability to create release paperwork".

However it looks as if the situation may have been been resolved, though it's not clear how many flights have been delayed - or cancelled - because of the outage.

Southwest just tweeted:

View more on twitter