Delta CEO reveals that the CrowdStrike-Microsoft outage resulted in a financial loss of $500 million for the airline.

• The IT outage that occurred earlier this month and left thousands of customers stranded will result in a financial loss of $500 million for Delta Air Lines CEO Ed Bastian.
• Over 4,000 flights were canceled due to a faulty CrowdStrike software update that caused a global outage of Microsoft systems.
• Bastian, who traveled to Paris last week, informed CNBC's "Squawk Box" on Wednesday that the airline would pursue damages for the disruptions and stated, "We have no choice."

The IT outage that occurred earlier this month and left thousands of customers stranded will result in a financial loss of $500 million for Delta Airlines CEO Ed Bastian.

Over 4,000 flights were canceled due to a software update failure that caused a global system outage.

The investigation by the U.S. Department of Transportation was triggered by Delta's cascading disruptions and slow recovery compared to other airlines.

Bastian, who traveled to Paris last week, informed CNBC's "Squawk Box" on Wednesday that the airline would pursue damages for the disruptions and stated, "We have no choice."

The rare meltdown of flight disruptions was an unusual occurrence for the premium airline that boasts high profitability and punctuality among U.S. carriers.

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