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Delta Air Lines sets 2019 outlook


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Delta Air Lines sets 2019 outlook

Delta Air Lines Inc. set its financial targets for 2019 and outlined measures that it said would help the carrier manage risks brought by a slowdown in global economic growth and fuel price volatility.

The carrier is expecting top-line growth of 4% to 6% on 3% capacity expansion and EPS in the range of $6 to $7, with pretax margin expansion of approximately 100 basis points at the midpoint of that range.

The S&P Global Market Intelligence consensus normalized EPS estimates for 2018 and 2019 are $5.59 and $6.71, respectively.

Delta Air's shares were down 4.9% as of 1:25 p.m. ET following the carrier's annual investor day presentation.

CEO Ed Bastian said the company would continue segmenting its cabins with an increased focus on higher-margin premium products to boost its revenues, Reuters reported. The carrier also plans to increase average seats per aircraft by 2% annually from 2018 to 2023 and offer five different cabins on four of its aircraft within days.

Delta Air said it also expects a $300 million decline in fuel costs for 2019, according to Reuters.