Delta, United Airlines Positive On Post-Pandemic Spending: Reuters

  • Delta Air Lines Inc DAL and United Airlines Holdings Inc UAL downplayed the prospect of a U.S. economic recession, saying a shift in consumer spending from goods to services would keep their businesses afloat, reported Reuters.
  • Delta Airlines lifted its June quarter's revenue guidance but on a lower capacity than planned.
  • RelatedWhy Delta Air Lines Stock Is Falling Today
  • "The demand is off the charts," Delta Chief Executive Ed Bastian told the Bernstein Conference.
  • There is an increased possibility that the world's biggest economy might slip into a recession, the report noted, citing some economic experts.
  • Bastian, however, said there was no evidence to back those concerns. "Our consumer is quite healthy," he stated.
  • United Chief Executive Scott Kirby shares the same sentiment. "The economy is just returning to normal," Kirby stated.
  • The report cited some analysts are concerned it may dent travel spending.
  • But Kirby said there was "not a hint of evidence" that rising ticket prices were hurting consumer demand.
  • Price Action: UAL shares are trading higher by 0.90% at $45.90 and DAL higher by 0.25% at $39.64 during the premarket session on Thursday.
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