Delta Air Lines unveils disappointing fourth-quarter guidance, sending shares down
) has unveiled current-quarter earnings guidance that missed analysts expectations, as the US carrier grapples with the fallout from a summer computer network outage and pricing pressures from overcapacity.
Total revenue in the period, meanwhile, is seen rising by 2% to 4%, with industry supply growth trends continuing to"rationalize," Delta President Glen Hauenstein said in a statement. Investors have been focused on recent overcapacity at Delta and its peers that has put downward pressure on fares. Third-quarter earnings per share were also dented by $0.45. However, Delta has said that, when excluding the outage, annual adjusted income will be around the midpoint of its $6 to $7 per share guidance range.
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