Delta shares plunge after lower-than-expected profit forecast despite surge in travel
DALDelta(DAL) New York Post·2024-07-12 01:17

Delta shares fell more than 5% Thursday after the airline forecast lower-than-expected quarterly profit — despite a surge in travel this summer.The Atlanta-based carrier Delta blamed discounting pressure in the low end of the market for dampening its pricing power as it predicted an adjusted profit between 1.70and1.70 and 2.00 per share in the third quarter through September, compared with analysts’ expectations of $2.05, according to LSEG data.The lowered profit expectations come as airlines are enjoying a summ ...