Delta Air Lines guidance update

Delta Air Lines now expects third quarter (Q3) total revenue to be in the upper half of its prior guidance range, which was up 11%-14%. Delta lowered Q3 EPS guidance to a range of $1.85 to $2.05 compared to the prior outlook for $2.20 to $2.50. Delta now expects total revenue per available seat mile to be down 2% to 3% in the quarter, with strength in Transatlantic routes offsetting some pressure from its MRO and cargo units. Fuel costs are rising with Delta predicting an average fuel price of $2.75 to $2.90 per gallon in Q3 up from its