Delta Air Lines lowers profits by sending stocks down

Delta Air Lines reduced its proceeds Imperfect sales In some corners of the tourist industry.

Delta expects the profit in the quarter, which ends on March 31, will increase no more than 5% compared to last year, which is 6% to 8% compared to the forecast in January. It reduced its adjusted profit forecast to 30 cents to 50 cents per share from the previous manual in 70 cents to $ 1 per share. Delta’s shares were expelled by more than 13% per hour after falling more than 5% at a regular session on Monday.

“The prognosis has affected the recent decline in consumers and trust of the corporation, caused by an increase in macro -determination, will lead to the softness of domestic demand,” Delta said in the submission of securities.

Delta CEO Ed Bastian told CNBC “Bell closure“On Monday, he does not expect a recession, but said that consumer confidence was weakened and that both free time and business customers were distracted by orders.

He said the concern was “a little worse on us” after the deadly. collision Between Regional Airplane and Army Helicop The crash on landing Toronto last month was not deadly.

Bastian’s comments come after the market is widely sale.

The Delta forecast, delivered after the closed market on Monday, comes the day before the JPMorgan Airline Airline Conference, which is expected to update investors in demand. Delta stated that in the application that demand for premium travel, international income and income from loyalty is still in line with his expectations.

US Airlines. South -Western airlines and United Airlines are one of the other carriers who will also update Wall -States in demand.

Airlines stocks have prices fell sharply In recent days, when the signs of weaker consumer expenses have increased into the sector, which was resistant compared to other branches as a result of the COVID-19 pandemic.