Airline Stocks Soar
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Delta Air Lines Inc. reinstated a profit outlook for the year and said travelers are coming back, prompting its stock to surge amid a fresh sense of confidence in the beaten-down US consumer.
Delta Air Lines, the world’s largest carrier by revenue, reported upbeat second quarter results and reinstated its guidance as growing economic clarity deflects headwinds resulting from a global trade war.
After withdrawing its outlook in April, Delta is again forecasting a profit—though at a significantly lower level than originally projected.
Analysts expect that airlines will have a tepid earnings season as tariff uncertainty and declining U.S. dollar weigh on the industry.