Delta said its caterer was informed of a "food safety issue" in its Detroit hub and that activity there had been suspended. Delta said no customers or employees illnesses were reported.
United Airlines is favored over Delta following the IT outage. The airline sector is normalizing post-Covid, with United well-positioned for higher profitability and potential capital returns to shareholders. United trades at 5x 2025 EPS targets, with a projected 14% earnings growth, and has significantly reduced its debt, enhancing financial stability.
Airline and transportation stocks have been under pressure from weakening consumer discretionary trends lately, especially as inflation is now threatening to spike again after the – arguably premature – interest rate cuts coming from the Federal Reserve (the Fed), being the most aggressive policy shift since late 2007 in face of the financial crisis of 2008.
On Thursday, Delta Air Lines announced that it expects a minor revenue hit in the fourth quarter due to the upcoming presidential election, and lower demand for travel before and after.
Delta Air Lines continues to demonstrate resilience in the business travel sector, building on strong performance from previous quarters as it reported third-quarter financial results Thursday (Oct. 10). Corporate travel sales rose 7%, driven by the airline's focus on premium offerings, which have consistently outperformed main cabin sales.
Delta Air Lines, Inc. (NYSE:DAL ) Q3 2024 Earnings Conference Call October 10, 2024 10:00 AM ET Company Participants Julie Stewart - Vice President, IR Ed Bastian - CEO Glen Hauenstein - President Dan Janki - CFO Tim Mapes - SVP & Chief Communications Officer Peter Carter - EVP, External Affairs Conference Call Participants David Vernon - Bernstein Jamie Baker - JPMorgan Savi Syth - Raymond Jam...
Delta's president said traditional spikes in Europe bookings for July and August are becoming less pronounced. Other carriers have shifted their schedules to maintain shoulder-season European flights well into the fall.
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