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The
cyber outage led to more than 2,200 flight cancellations on July
19 and Delta has canceled over 6,000 flights so far since then.
CrowdStrike's "Falcon Sensor" software had caused Microsoft
Windows to crash and display a blue screen, known informally as
the "Blue Screen of Death".
Delta has hired a law firm and will also seek compensation from
Microsoft, CNBC reported on Monday.
CrowdStrike's stock, which had more than doubled in 2023, has
fallen over 24% since the outage, leading to a loss of over $20
billion in market valuation.
Many clients are considering slowing or pausing spending on
CrowdStrike and expecting pricing concession, according to a
survey by Evercore ISI.
"Nearly everyone agreed that they expect some form of monetary
relief, such as discounts, service revenue credits, or free
products," the brokerage said in a note on Tuesday, adding that
feedbacks from clients suggest that CrowdStrike was already
discussing this with its customers.
Analysts at Needham said damages from the outage will lead to
"hindered customer willingness to rely heavily on singular
platforms, as that choice introduces concentration risk."
The brokerage said that CrowdStrike customers it spoke to
displayed frustration over the outage, depicting it as a "total
nightmare" disrupting their business during one of the year's
busiest travel and shopping periods.
(Reporting by Harshita Mary Varghese; Editing by Maju Samuel)
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