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Delta Air Lines (NYSE:DAL) CEO Ed Bastian had one thing on his mind Wednesday morning.
Delta's Q2 pretax profit guidance is based on fuel prices before the recent ceasefire.
KEY POINTS
- Delta estimates a $40 million annual fuel cost impact for each one-cent change in jet fuel price.
- Prediction markets give a 65% chance Strait of Hormuz traffic normalizes by end of May.
- IATA warns Middle East refining disruptions will delay full jet fuel supply recovery even after Hormuz reopens.
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