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Delta cuts 2018 forecast on higher fuel costs, profit beats estimates

Reuters 

(Reuters) - Delta Air Lines Inc slashed its full-year earnings forecast on Thursday as fuel costs in the second quarter surged 38.8 percent and the company said it expected $2 billion spike in its fuel bill in 2018.The No.2 U.S.carrier by passenger traffic cut its full-year earnings outlook to a range of $5.35 to $5.70 per share from $6.35 to $6.70 per share.Jet fuel costs for airlines have been rising as crude oil prices have soared 9.8 percent this year through Wednesday and 53.8 percent in the last 12 months.However, strong travel demand and an increase in average fares helped the Delta's ...

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First Published: Thu, July 12 2018. 17:06 IST
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