Transportation
Delta Slides After Profit Forecast Cut on Weaker Travel Demand
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Delta Air Lines Inc. cut its profit expectations for the first quarter roughly by half on weakening travel demand, the latest sign that economic worries are pressuring consumer spending.
Earnings will be 30 cents to 50 cents a share in the period, down from an earlier forecast of as much as $1, the carrier said Monday in a statement. Delta also lowered its guidance for revenue growth to reflect a $500 million reduction, and for operating margin.