Delta Air Lines Halves Profit Expectations – Economic Concerns Weigh on Travel Lust

Delta Air Lines Inc. has drastically lowered its forecast for the first quarter. The airline now expects earnings of 30-50 cents per share – significantly less than the previous range of $0.70-1.00. The anticipated revenue growth has also been reduced from 7-9% to only 3-4%. The reason for the revision is a declining consumer sentiment and diminishing corporate confidence amid economic uncertainty, Delta stated in a regulatory filing. The announcement caused Delta's stock to plunge over 13% in after-hours trading. Other airlines were also...