Delta shares down after carrier cuts revenue metric a second time

Shares of Delta Air Lines fell Tuesday after the carrier lowered its forecast for a closely watched revenue metric for the second time in less than a month. Delta said it expects passenger unit revenue to fall about 0.5% in the Q1 ended March 31. The carrier previously projected Q1 passenger unit revenue would be about flat. Prior to that, in January, Delta had said it expected a flat to 2% increase in Q1 passenger unit revenue. Delta blamed slower-than-expected improvement in average fare prices for flights booked at the last minute for the decline in its unit revenue outlook. Delta also said Tuesday it continued to expect an operating margin of 10% to 11% for the quarter and an improvement in unit revenue in the second half of the year that would offset higher fuel and labour costs. <br/>