Delta Air Lines (DAL) is offering to pay passengers of its recently crashed Flight 4819 $30,000. This is a goodwill offering to passengers with “no strings attached.” The airline notes this won’t affect the passengers’ rights, leaving it open to litigation from those who accept the payment.
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Delta Air Lines says the offer is available to the 76 passengers of the flight, as well as the four crew members. There were no casualties in the crash, which saw the plane flip upside down during a landing attempt. However, 21 people were injured with three of them critically wounded.
Questions have been raised about the recent string of airline crashes after President Donald Trump took office and announced government budget cuts. Delta Air Lines CEO Ed Bastion said this isn’t an issue as the Federal Aviation Administration (FAA) only laid off 300 of its more than 50,000 employees and they weren’t critical to safety. The cause of the crash is under investigation by Canadian and U.S. regulators.
How This Affects DAL Stock Today
Delta Air Lines stock isn’t doing so hot on Wednesday after the airline announced its plan to pay crash victims $30,000. This has the shares down 2.97% as of this writing but still up 3.8% year-to-date and 57.07% over the past 52 weeks. Today’s drop continues the negative movement that started yesterday after news of the crash spread.
Is DAL Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Delta Air Lines is Strong Buy based on 15 Buy ratings over the last three months. With that comes an average price target of $83.07, a high of $100, and a low of $75. This represents a potential 31.38% upside for DAL stock.
