Delta joins other airlines in cutting profit estimates on higher costs
Publishing timestamp: 2023-09-14 11:33:36
Summary
Delta Airlines has cut its adjusted earnings forecast for the third quarter due to higher fuel and maintenance costs. The company now expects adjusted per-share earnings of $1.85 to $2.05, down from the previous forecast of $2.20 to $2.50. Delta also anticipates a 2% to 3% decrease in unit revenue for the quarter. Other airlines, including American Airlines, Spirit Airlines, and Frontier Airlines, have also warned of lower profits due to increased costs. Delta shares were down 1% in morning trading.
Sentiment: NEGATIVE
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