Delta Air Lines shares slipped about 9% Friday after the company trimmed its 2024 earnings forecast.
Delta forecast full-year earnings per share of $6 to $7, below its previous estimate of more than $7 per share for 2024.
Other major airlines including United, American and Southwest also fell on the new estimate, released alongside quarterly earnings. United and American were down about 10% each, while Southwest fell more than 4%.
Delta finished 2023 by doubling its quarterly profit as bookings, both for corporate and leisure travel, continued to pick up from the Covid-19 pandemic lows. The company reported $2.04 billion in net income in the fourth quarter, sharply up from the $828 million reported in the year-ago period.
Delta CEO Ed Bastian said in a CNBC interview that the airline has recovered almost 90% of its travel demand from its pre-pandemic numbers. Bastian said he expects strong growth in international travel as Americans continue to set their sights on overseas…
2024-01-12 16:25:09
Original from www.cnbc.com