Overview

• Delta forecasts second-quarter revenue to range from a 2% decline to a 2% increase, reflecting weaker-than-expected travel demand.
• The airline projects earnings per share (EPS) between $1.70 and $2.30, below analysts' average estimate of $2.30.
• Planned capacity growth for the second half of 2025 has been scaled back to flat year-over-year, down from the previous 3%-4% expansion target.
• CEO Ed Bastian cited a significant slowdown in bookings beginning in mid-February, driven by tariffs and declining consumer and corporate confidence.
• Demand for premium and international travel remains relatively strong, despite a broader downturn in domestic leisure and corporate bookings.