Transportation
Delta Tumbles Most in 18 Months After Walking Back Profit Goal
- CEO Bastian cites expenses, ‘uncertainty in the environment’
- Airline agrees to purchase 20 widebody planes from Airbus
This article is for subscribers only.
Delta Air Lines Inc. backed away from its 2024 profit target as high costs counter the gains from a rebound in international travel, sending the carrier’s shares down the most in 18 months and dragging rivals lower.
Adjusted earnings will be $6 to $7 a share this year, Delta said Friday in a statement that also detailed fourth-quarter results. The company has had a long-term profit target for several years of “more than $7” a share for 2024. Analysts expected $6.50 on average in estimates compiled by Bloomberg.