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Delta Air Lines forecast lower-than-expected profit for the second quarter.
Delta is removing all planned capacity growth for the June quarter, reducing supply by 3.5 percentage points.
KEY POINTS
- Delta expects to pay $4.30 per gallon for jet fuel in Q2, adding $2 billion in costs year-over-year.
- Delta aims to recover only 40-50% of higher fuel costs through fare increases in the second quarter.
- Delta expects a $300 million benefit from its refinery in Q2, up from $60 million in Q1.
- Delta raised checked-bag fees and signaled these higher fees may remain due to elevated fuel prices.
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