Delta Air CE says higher jet fuel to add US$2b to costs
Delta Air Lines is expecting US$2b in additional costs this year due to the swelling expense of jet fuel, CE Ed Bastian said Wednesday. Earlier this month, Delta blamed a 50% annual rise in fuel costs for its decision to lower its Q2 profit forecast to between $1.65 and $1.75 per share from a previous estimate of up to $2 per share. The rising cost of jet fuel already weighed on US airlines' earnings in the first Q1 and prompted rival American Airlines to cut its full-year profit forecast in April. Delta and its competitors are hoping strong demand, higher ticket prices and benefits from reductions in the US corporate tax rate will eventually offset the impact of higher fuel prices. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-06-28/sky/delta-air-ce-says-higher-jet-fuel-to-add-us-2b-to-costs
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Delta Air CE says higher jet fuel to add US$2b to costs
Delta Air Lines is expecting US$2b in additional costs this year due to the swelling expense of jet fuel, CE Ed Bastian said Wednesday. Earlier this month, Delta blamed a 50% annual rise in fuel costs for its decision to lower its Q2 profit forecast to between $1.65 and $1.75 per share from a previous estimate of up to $2 per share. The rising cost of jet fuel already weighed on US airlines' earnings in the first Q1 and prompted rival American Airlines to cut its full-year profit forecast in April. Delta and its competitors are hoping strong demand, higher ticket prices and benefits from reductions in the US corporate tax rate will eventually offset the impact of higher fuel prices. <br/>
