The Federal Aviation Authority (FAA) briefly issued a judgment ground for all departing United Airlines (UAL) aircraft due to a “system-wide technology issue”. Flights resumed operations just under an hour.
Points to remember
- United Airlines made a brief stop Tuesday afternoon, preventing ground flights from taking off.
- The ground stop was lifted at 1:50 p.m., the Federal Aviation Administration (FAA) confirmed in a statement. Message X.
- United Airlines shares fell as much as 3% before recovering some of their losses.
At 1:38 p.m. Around 1:00 p.m. ET, United Airlines said it would block all departing planes from taking off until further notice, shortly after notifying the Federal Aviation Administration (FAA). Flights already in flight were unaffected and were able to continue to their destination. The airline lifted its ground stop soon after, which the FAA confirmed via X message at 1:50 p.m. AND.
US Transportation Secretary Pete Buttigieg took to X, confirming he was aware of the nationwide ground shutdown and said the DOT would ensure that United Airlines “meets its obligations to the passengers concerned”.
United Airlines fell as much as 3% on Tuesday afternoon before recovering its losses after the ground stop was lifted. They are up nearly 32% so far this year, double the 16% gain for the average S&P 500 airline stock over the same period.
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Source: investopedia.com
