07:50 AM EDT, 07/31/2024 (MT Newswires) -- The botched CrowdStrike ( CRWD ) software update on Microsoft ( MSFT ) systems that caused a global IT outage earlier this month will cost Delta Air Lines ( DAL ) $500 million, Delta Chief Executive Ed Bastian said Wednesday on CNBC.

The airline canceled over 4,000 flights due to the outage, and while its competitors recovered faster, Delta's cascading disruptions prompted the US Department of Transportation to open an investigation into the company, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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