By Rajesh Kumar Singh
CHICAGO (Reuters) -Delta Air Lines on Monday slashed its profit estimates for the current quarter through March, citing increased macroeconomic uncertainty.
The Atlanta-based company said it now expects a profit in the range of 30 cents-50 cents a share, compared with 70 cents and $1 a share estimated in January.
Analysts on average expected the company to report a quarterly profit of 86 cents per share, according to data compiled by LSEG.
Delta’s shares were down 9% in after-hours trading.
The company said domestic travel demand has softened due to a reduction in consumer and corporate confidence. However, its premium, international and loyalty revenue remained resilient.
(Reporting by Rajesh Kumar Singh)
