Delta Lowers Q1 Guidance, Cites Declining Consumer Confidence and Demand

Delta Air Lines cut its first-quarter revenue and profit outlooks, citing weaker domestic demand, according to CNBC. Delta lowered its first-quarter revenue growth forecast and cut its adjusted earnings outlook due to weaker demand. Its stock dropped sharply, declining during regular trading and falling further after hours. Delta CEO Ed Bastian said he does not expect a recession but noted that weakened consumer confidence has led to a decline in both leisure and business bookings. Bastian said recent aviation incidents have worsened the airline's demand challenges.