Flight Cancellations Top 7,000
Hurricane Sandy is forcing the cancellation of thousands of flights into and out of the U.S. Northeast amid forecasts for high winds and heavy rain. In New York City, the subway system began to close down Sunday evening at 7…
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U.S. Airways Group Inc. (NYSE: LCC) is expecting to cancel about 2,000 flights, and American Airlines cancelled 140 flights on Sunday and expects to cancel more than 1,400 more from Monday through Wednesday.
JetBlue Airways Corp. (NASDAQ: JBLU) has cancelled more than 1,000 flights through Wednesday, and Delta Air Lines Co. (NYSE: DAL) cancelled 180 flights on Sunday and expects to cancel hundreds more today.
Because some airlines will move their planes away from the East Coast, more delays are expected once the storm passes.
The costs to the airlines could run into the hundreds of millions of dollars, according to one industry analyst cited at Reuters.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
