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Delta Air Lines announced on Wednesday that it is scrapping all planned capacity growth for the current quarter.
Delta Air Lines has canceled all planned capacity growth for the current quarter.
KEY POINTS
- Delta's profit forecast is now below Wall Street's expectations due to rising fuel costs.
- Jet fuel prices have nearly doubled since the U.S.-Israeli strikes on Iran.
- Delta expects to pay $4.30 per gallon for jet fuel in the June quarter.
- Delta and other airlines are cutting lower-margin routes to conserve fuel and protect profits.
COMPANIES
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