Delta Air sees profit boost
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Delta Flight 127, which departed Madrid, Spain diverted to the volcanic island of Terceira in the Azores. Passengers were stranded 29 hours there.
After withdrawing its outlook in April, Delta is again forecasting a profit—though at a significantly lower level than originally projected.
Delta Air Lines said on Thursday its bookings have stabilized, prompting it to forecast a brighter profit outlook for coming quarters, even as pricing pressures continue to weigh on industry margins.
The airline’s upbeat outlook for the year has been dimmed by economic turbulence in the U.S. that made people hesitant to book flights.
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Delta's revenue from premium seats like business class rose 6% in the first half of the year to $10.6 billion, while main cabin economy ticket revenue dropped 4% to $11.7 billion. The carrier, the most profitable U.S. airline, has said for years that its share of sales from high-end seats and its lucrative loyalty program has been growing.
Delta topped Wall Street expectations for the quarter and reinstated full-year guidance. The company is feeling much more upbeat about the quarters to come than it was three months ago, propelling the stock higher.
Delta says flight attendants quickly extinguished a battery from a passenger’s personal electronic device on a flight from Atlanta.
Delta Air Lines Inc. issued a new profit target for this year after pulling the goal three months ago, in a sign that demand is bouncing back from the initial shock over US President Donald Trump’s tariff war.