Know The Difference Minute

Today was another reminder of how quickly things can go wrong when airline systems fail.

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Not again.
Welcome to the Know the Difference Minute for Wednesday, January 11th.
Today was another reminder of how quickly things can go wrong when airline systems fail.
Simply, a key FAA computer system experienced an early morning outage. It’s not part of the Air Traffic Control System but it’s important. With it down—the FAA called for a ground stop of all aircraft in the US.
Even though things were back up by 8am, there was a ripple effect. By 11am, 7,000 flights were delayed. 1100 were cancelled.
Ironically, airline stocks have been strong. An ETF that tracks the category has been up over 10% year-to-date. Delta, United, and American all traded up between 3 and 6% today.
What happened? Most likely, outdated systems and software though Pete Buttigieg says the Feds are not ruling out nefarious activity.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.