Delta Air Lines shares jump
Digest more
Delta Air Lines reinstated a profit outlook for the year and said travelers are coming back, prompting its stock to surge amid a fresh sense of confidence in the beaten-down U.S. consumer.
Delta Air Lines Inc.’s stock soared in morning trading Thursday after the air carrier topped Wall Street’s estimates for second-quarter profit and revenue and restored its full-year guidance.
Delta Air Lines said on Thursday its bookings have stabilized, prompting it to forecast a brighter profit outlook for coming quarters, even as pricing pressures continue to weigh on industry margins.
In the June quarter, Delta delivered record revenue on a 13% operating margin, generating $1.8 billion in pre-tax profit," CEO Ed Bastian said.
With limited demand for lower-priced fares, carriers are poised to reduce domestic main-cabin capacity by about 1% by September, Delta Air Lines President Glen Hauenstein said Thursday.