Airline Stocks Soar
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The Atlanta-based airline posted better-than-expected earnings for Q2. Trump to be denied address to Parliament on state visit Dry Mouth at Night Isn’t Just Annoying. It Might Signal a Bigger Health Issue.
After withdrawing its outlook in April, Delta is again forecasting a profit—though at a significantly lower level than originally projected.
Delta Air Lines Inc. reinstated a profit outlook for the year and said travelers are coming back, prompting its stock to surge amid a fresh sense of confidence in the beaten-down US consumer.
United Airlines soared by 14.33 percent on Thursday to close at $91.67 apiece as sentiment was bolstered by upbeat comments about the overall travel industry and investor repositioning ahead of the
Delta Air Lines, the world’s largest carrier by revenue, reported upbeat second quarter results and reinstated its guidance as growing economic clarity deflects headwinds resulting from a global trade war.
Analysts expect that airlines will have a tepid earnings season as tariff uncertainty and declining U.S. dollar weigh on the industry.
The demand stabilization was enough to push Delta's top and bottom lines ahead of Wall Street expectations for the second quarter. Revenue was flat at $16.65 billion, in the quarter ended June 30, beating the $15.46 billion analysts were forecasting. Total revenue per available seat mile, a key industry metric, fell 4%, to 21 cents.