Delta Air Lines announced that the power outage at Hartsfield-Jackson Atlanta International Airport would cost the airline an estimated $25 million to $50 millionin pre-tax income. Shares of the company dropped 2.4% to $55.37 per share in midday trading, which is the biggest one-day percentage decline in over two months.
On Dec 17, the power outrage forced the airline to cancel around 1,400 flights. The blackout was caused by a fire in electrical equipment in an underground tunnel, and it damaged an underground power source for the airport and its backup.
“Delta endeavors to be the world’s most reliable airline — getting our customers where they want to go safely and with minimal disruption, even during some of the busiest times of the year,” Gil West, the chief operating officer of the company, said in a statement.
Despite the high cost, Delta said that its unit revenue increased around 4% in December from the figure in the previous year.
Delta had 242 days without any mainline cancellations before the outage in Atlanta, which was one day more than the number in previous year. In addition, in 2017, the airline said that it had 90 days without any canceled flights among Delta and Delta Connection flights, which was nine days more than the previous year.