Morgan Stanley Reiterates Overweight On Delta Airlines

After a recent meeting with Delta Airlines DAL management, Morgan Stanley, reiterates it's Overweight rating and expects to see signs of positive operating margin momentum over the coming quarters. Key points discussed at the meeting were: Delta is encouraged by booking/revenue trends through October, which reaffirms the belief that the airline up-cycle remains intact and further mitigates downside risk. Delta is also nearing the completion of its integration with NWA, after which it plans to return full focus to core ops and begin to eliminate inefficiencies created during the integration process. Corporate travel remains strong, as Delta is gaining market share and management expects favorable business trends through year-end and YoY growth in 2011. DAL is trading up $0.20 at $11.38 today