Airline stocks crater after Delta issues slightly lower revenue growth outlook

Shares of US airlines tumbled Thursday after Delta Air Lines forecast slightly lower revenue growth, following downbeat sales projections from Apple that stoked concerns of a global slowdown. Delta shares fell nearly 9%, their steepest percentage decline in more than 6 years. Delta warned investors before the market opened that its unit revenues in the last 3 months of the year likely rose 3%, down from a previous forecast of 3.5%. The said yield growth from last-minute bookings “was more modest than anticipated” in December. The selloff presents airline executives with a tough crowd to please when they start reporting earnings this month. Investors have been sceptical of the sector, even though it’s heading for its ninth year in a row of profitability. <br/>