Delta (DAL) Cuts Tel Aviv Flights Post Israel-Palestine Clash
Delta Air Lines DAL will not operate flights to Tel Aviv through the current month end. Management arrived at the decision following the fighting between Israel forces and Hamas. The decision to cancel flights extends Delta’s previous travel alert, which suspended flights to Tel Aviv through the current week.
Per the latest travel alert, issued in the wake of the conflict, Delta will issue travel waivers for rebooked flights traveling on or before Nov 30, 2023. In the event of passengers not being able to rebook for a flight on or before the above date, management will allow them to cancel their reservation and use the credit for a new ticket within one year of the original travel date.
Delta, currently carrying a Zacks Rank #5 (Strong Sell), is not the only airline to cut flights to Tel Aviv following the attack by Hamas militants on Israel over the weekend. Other U.S. carriers like United Airlines UAL and American Airlines AAL suspended direct flights to Tel Aviv. UAL’s management stated, "Tel Aviv flights will remain suspended until conditions allow them to resume." AAL has currently cancelled flights through Friday.
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The U.S. State Department has issued a travel advisory for Gaza, urging people not to travel to the region. With international travel improving post pandemic, this disruption of operations following the conflict is not at all a welcome development for airlines. Naturally, shares of major carriers dipped on Oct 9.
Shares of Delta, American Airlines and United Airlines declined 4.6%, 4.1% and 4.9%, respectively, on Oct 9 from the closing of Oct 6.
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