Airline Stocks Stall After FAA Grounds U.S. Flights

DAL and AAL are making fractional moves this morning

Jake Scott

Deputy Editor

Jan 11, 2023 at 9:19 AM

A computer outage led to all U.S. flights being grounded Wednesday morning. According to the Federal Aviation Administration (FAA), its "Notice to Air Missions" system was activated "to address the equipment outage issues for the U.S. NOTAM system," which is a notice for workers engaged in flight operations.

While flights get started back up in some major U.S. cities, Delta Air Lines, Inc. (NYSE:DAL), and American Airlines Group Inc (NASDAQ:AAL) are making fractional moves ahead of Wall Street's open.

Delta Air Lines stock was last seen 0.1% higher to trade at $38.14. Flight cancellations over the holiday season pushed the shares lower on the charts, with DAL losing 7.1% in December. In the last 12 months, the equity is down 6.3%.

American Airlines stock, meanwhile, was last seen trading down 0.3% before the bell. Similar to Delta and other sector peers, AAL's experienced a hefty December dip, losing 11.9% to close out 2022. The security was able to hold above its early October, multi-year lows, but it still sports a nearly 20% year-over-year deficit.

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