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☆ United Airlines posts record high quarterly earnings, lifts full-year outlook
▼ + stars: | 2023-07-19 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

CHICAGO, July 19 (Reuters) - United Airlines Holdings (UAL.O) on Wednesday lifted its full-year profit outlook after posting the highest ever quarterly earnings on booming demand for international travel. That is well above analysts' consensus earnings estimate of $9.77 per share for 2023, according to a Refinitiv survey. For the third quarter, United forecast adjusted earnings of $3.85 to $4.35 per share, while the Wall Street consensus is $3.70. Among U.S. airlines, higher-margin international travel is the most important to United, accounting for about 38% of its passenger revenue before the pandemic. In the second quarter, international passenger revenue rose 44% year-on-year, accounting for about 41% of the airline's total passenger revenue.

Persons: Rajesh Kumar Singh, Richard Chang Organizations: United Airlines Holdings, U.S, Thomson Locations: Chicago, Europe

☆ Delta Air forecasts stronger earnings on post-pandemic travel boom
▼ + stars: | 2023-07-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

The carrier's shares rose 4% before the bell as the raised forecast and record earnings fueled optimism about travel demand despite high inflation. Shares of rivals American Airlines (AAL.O), United Airlines (UAL.O) and Southwest Airlines (LUV.N) were also up about 2% each. Delta said it now expects adjusted earnings of $6-$7 per share this year, compared with its previous forecast of $5-$6 per share. It reported an adjusted profit of $2.68 per share for the second quarter, above the average analyst estimate of $2.40. Delta's total revenue per seat mile (TRASM), a proxy for pricing power, was up 1% in the second quarter from a year ago despite a 17% jump in capacity.

Persons: Ed Bastian, Bastian, Rajesh Kumar Singh, Shivansh, Leslie Adler, Maju Samuel Organizations: Delta Air Lines, American Airlines, United Airlines, Southwest Airlines, Labor, Reuters, Delta, Thomson Locations: Bengaluru

☆ Canadian West Coast ports strike is over, but it will take weeks for supply chain to recover
▼ + stars: | 2023-07-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

Darryl Dyck | Bloomberg | Getty ImagesThe strike at the Canada's West Coast ports is over, after both the labor union and port ownership accepted a deal presented by federal mediators. ILWU Canada union workers were expected to be back on the job for the 4:30 p.m. Pacific time shift on Thursday, but undoing the damage to the supply chain from close to two weeks of strike will take weeks. While the production ramp down at the ports was seen immediately, the congestion as a result of the 13-day strike will have a lasting effect on ports. The International Longshoremen and Warehouse Union of Canada begin its strike on July 1. The ports strike has already damaged the U.S. supply chain.

Persons: Darryl Dyck, Seamus O'Regan, Omar Alghabra, O'Regan, Prince Rupert, HLS, Eric Byer, Byer, Vancouver and Prince Rupert, Sara Elena, Willie Adams Organizations: Port Metro Vancouver, Bloomberg, Getty, Twitter, Canadian Labor, Warehouse Union of Canada, British Columbia Maritime Employers Association, Vancouver, US Inland Port, U.S ., Carriers, American Association of Railroads, National Association of Chemical Distributors, CNBC, Port, U.S, Products, Canada, Canadian Chamber of Commerce, Railway Association of Canada, MSC Brunella, ILWU U.S, West Coast, Logistics, Customs Locations: Vancouver , British Columbia, Canada, Coast, U.S, British, Vancouver, U.S . West Coast, Asia, Port of Vancouver, West Coast, Africa, United States

☆ US airline stock valuations stuck on runway despite travel boom
▼ + stars: | 2023-07-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

REUTERS/Jim Vondruska/File PhotoCHICAGO, July 12 (Reuters) - Relentless travel demand has sent bookings at U.S. carriers soaring, translating into bumper earnings. Airline shares have suffered because of bearish sentiment about the broader economy as interest rates are up sharply and inflation remains high, analysts said. There are still no signs of air travel demand waning as ticket purchases for the rest of 2023 are up 4%, said Steve Solomon, ARC's chief commercial officer. Believers in airline stocks have seen signs of hope this year. Global Investors' Holmes said airline shares are poised for even more gains.

Persons: Jim Vondruska, Refinitiv, Jefferies, Sheila Kahyaoglu, TD Cowen, Frank Holmes, Steve Solomon, Hopper, Hayley Berg, Hopper's, airfares, Holmes, Rajesh Kumar Singh, Ben Klayman, Nick Zieminski Organizations: Chicago Midway International, REUTERS, Airline, US Global Jets ETF, United Airlines, Delta Air Lines, Airlines, Global Investors, U.S . Transportation, Airlines Reporting Corporation, ARC, airfare, Delta, American Airlines, Global, Thomson Locations: Chicago , Illinois, U.S, Europe, United

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Nio, Tesla, Netflix, JPMorgan, Amazon & more
▼ + stars: | 2023-07-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Nio as overweight Morgan Stanley said it thinks the electric vehicle company's stock will begin to gain traction. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley reiterated Microsoft as a top pick and said it has "compelling positioning." Baird reiterates Tesla as outperform Baird said it's bullish on the company's supercharger opportunity. Cowen reiterates Netflix as outperform Cowen said it's standing by its outperform rating on the stock heading into earnings next week. Truist upgrades Scotts Miracle-Gro to buy from hold Truist said in its upgrade of Scotts that the pandemic hangover is finished.

Persons: Morgan Stanley, Nio, KeyBanc, –, Baird, Tesla, it's bullish, Cowen, it's, Piper Sandler, Piper, Wells, Uber, Evercore, Netflix Evercore, Argus, Generac, Canaccord, Canacccord, Newell, Wolfe, Jefferies, TOST, JPM, Goldman Sachs, Goldman, TD Cowen, Truist Organizations: Microsoft, CIO Survey, Netflix, TikTok, IG, Mobile, UBS, Commercial Metals, Commercial Metals Company, Amazon, Industrial, Newell Brands, destocking, Citi, Hewlett Packard Citi, HP Inc, Apple, Jefferies, JPMorgan, Bank of America, underperform Bank of America, Bancorp, of America, US Bancorp, JetBlue, Alliance, . Carriers, Target, Scotts Miracle, Gro, " Bank of America, American Express Locations: Wells Fargo, Underperform, Scotts

☆ CNBC Daily Open: The sun rises on Japan
▼ + stars: | 2023-07-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Philip Fong | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayU.S. markets on holidayU.S. markets were closed yesterday for the Fourth of July holiday, while futures were little changed on Tuesday night. Inflation exceptionalismThe U.K. is the only G7 country where inflation is still rising, according to data from the Organization for Economic Cooperation and Development. The sky's the limitAround 30% of the flights operated by U.S. airlines were delayed between June 24 through July 2.

Persons: Philip Fong, Abu Dhabi's, Xi Jinping, aren't, Niño, El Niño Organizations: Tokyo, Mount, Afp, Getty, CNBC, Organization for Economic Cooperation, Development, U.S, aren't fazed, World Meteorological Organization Locations: Mount Fuji, Ichikawa city, Chiba prefecture, Tokyo, China, Beijing, U.S

☆ Airline stocks set for best month in two years on summer rush, lower fuel prices
▼ + stars: | 2023-06-30 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

June 30 (Reuters) - U.S. airline stocks on Friday were set to record their strongest monthly performance since 2021, helped by easing fuel prices and signs of robust travel demand during the summer season. The outlook for the rest of summer months is also bright. The S&P 1500 airlines (.SPCOMAIR) has jumped 21.3% so far in June, the highest since February 2021 and far ahead of the S&P 500's (.SPX) 5.2% rise. However, Raymond James analyst Savanthi Syth expects air travel demand to moderate in the second half, given the high level of uncertainty and limited visibility into the fall. Shares of United Airlines and Delta trade 5.2 and 7.0 times forward profit estimates, respectively, well below S&P 500's (.SPX) multiple at 19.1.

Persons: Russ Mould, Raymond James and, Raymond James, Savanthi Syth, Matthew Tuttle, Joby, Morgan, Medha Singh, Arun Koyyur Organizations: U.S, Airlines, America, Bell, Delta Air Lines, United Airlines, Raymond James and Bank of America, Delta, Tuttle Capital Management, Joby Aviation, Thomson Locations: United States, Bengaluru

☆ US warns of potential 5G delays for airplanes without updated altimeters
▼ + stars: | 2023-06-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Last year, Verizon VZ.N and AT&T T.N voluntarily agreed to delay some C-Band 5G usage until July as air carriers worked to retrofit airplane altimeters. Delta Air Lines (DAL.N) said Friday its supplier told the airline it would not have enough radio altimeters for Delta’s entire fleet by July 1. Approximately 190 Delta narrowbody aircraft are not yet equipped with updated radio altimeters including all A220s, most A319s and A320s, and some A321s. All Delta widebody aircraft will be equipped with updated radio altimeters prior to July 1, the airline said. Reuters first reported in March that major U.S. wireless carriers agreed to some voluntary actions to address aviation safety concerns.

Persons: Robert Bryan, Read, Pete Buttigieg, Buttigieg, T.N, David Shepardson, Chizu Organizations: Eagle Aviation, Columbia Metro, . Transportation, Airlines for, Verizon, Carriers, Air Lines, Delta, Reuters, Mobile, Federal Aviation Administration, FAA, Thomson Locations: West Columbia, South Carolina, U.S, WASHINGTON, Airlines for America

☆ US combat ship to make rare port call in Vietnam amid South China Sea tensions
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

The visit of the USS Ronald Reagan is only the third for a U.S. aircraft carrier since the end of the Vietnam War. The USS Theodore Roosevelt stopped in Vietnam in 2020 to mark 25 years since the Vietnam War ended in 1975. This year Washington is seeking to upgrade its formal ties with Vietnam, amid Hanoi's frequent disputes with Beijing over boundaries in the South China Sea. China claims the waters almost in their entirety, including the exclusive economic zones of Vietnam and other countries in the region. On Wednesday, the Chinese aircraft carrier Shandong and a group of escorting vessels sailed south through the sensitive Taiwan Strait, Taiwan's defence ministry said.

Persons: Ronald Reagan, Theodore Roosevelt, Francesco Guarascio Organizations: U.S, aircraft, Thomson Locations: HANOI, Central Vietnam's, Danang, U.S, Beijing, South China, Vietnam, Washington, China, Shandong, Taiwan

MEXICO CITY/WASHINGTON, June 8 (Reuters) - The U.S. and Mexico still have "differences" of opinion regarding Mexico's recovery of a coveted air safety rating, Mexico's president said on Thursday. The U.S. Federal Aviation Administration (FAA) downgraded Mexico to the Category 2 air safety rating more than two years ago, citing safety concerns. The U.S. wants to make clear any decision to restore Mexico's safety rating would be based on technical merits, not politics, the sources added. A joint statement from the U.S. and Mexican transportation agencies released by USDOT late Thursday did not address Mexico's air safety rating but said both governments are committed to the successful development of AIFA "in ways that will bolster the U.S.-Mexico air transportation relationship." Mexican Transportation Minister Jorge Nuno said the audit was Mexico's "last" in a statement Wednesday, implying a positive resolution.

Persons: Pete Buttigieg, Andres Manuel Lopez Obrador, Lopez, Felipe Angeles, Lopez Obrador, USDOT, Jorge Nuno, Lopez Obrador's, Kylie Madry, David Shepardson, Rosalba O'Brien, Gerry Doyle Organizations: MEXICO CITY, U.S . Federal Aviation Administration, FAA, U.S . Transportation, Transportation, Thomson Locations: MEXICO, WASHINGTON, U.S, Mexico, United States, Mexican, Mexico City, Benito Juarez, AIFA, Washington

ISTANBUL, June 5 (Reuters) - The United States is in a "business recession" but the consumer is "strong", Scott Kirby, chief executive of United Airlines (UAL.O), the world's largest carrier, told reporters at an aviation conference in Istanbul on Monday. Business demand hasn't fully recovered yet ... that's taking more time," he said. I think actually, in the U.S., we're in a business recession, and the consumer is just fine, the consumer is strong." The chief of the world's biggest airline also raised concerns over competing carriers flying over Russia. However, newly approved flights for Chinese airlines are avoiding flying over Russian airspace to and from the United States, Reuters reported on June 1.

Persons: Scott Kirby, Kirby, We're, Aditi Shah, Jason Neely Organizations: United Airlines, International Air Transport Association, world's, U.S, Air, Reuters, Thomson Locations: ISTANBUL, United States, Istanbul, U.S, Russia, Washington, Moscow, Ukraine, India, Air India

The FAA downgraded Mexico's aviation safety rating to Category 2 in 2021, citing safety deficiencies and blocking Mexican carriers from adding new U.S. flights. Since Mexico lost the rating, the FAA has conducted a series of audits on the local civil aviation authority and its compliance with international safety standards. Mexican newspaper El Financiero had earlier reported that Mexico had already recovered the safety rating, citing government sources, but a short time later backtracked on the initial report. In the two years since the FAA dropped Mexico to Category 2, the country has revamped its aviation standards, replacing officials and most recently overhauling its civil aviation law. Asked to comment on Mexico's air safety rating, an FAA spokesperson would only say the agency continues "to provide assistance to Mexico's civil aviation authority."

Persons: El Financiero, Andres Conesa, Kylie Madry, Adriana Barrera, Carolina Pulice, Ana Isabel Martinez, Brendan O'Boyle, David Alire Garcia, Diane Craft Organizations: MEXICO CITY, U.S . Federal Aviation Administration, FAA, El, U.S, Thomson Locations: MEXICO, Mexico, United States

☆ Newly approved US flights by Chinese airlines avoid Russian airspace
▼ + stars: | 2023-06-01 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, June 1 (Reuters) - Chinese airlines are avoiding flying over Russian airspace in newly approved flights to and from the United States, according to flight tracking website FlightAware and industry officials. Russia has barred U.S. airlines and other foreign carriers from flying over its airspace, in retaliation for Washington banning Russian flights over the U.S. in March 2022 after the country invaded Ukraine. FlightAware records show Chinese flights recently approved by Washington are not flying over Russia, while previously approved Chinese airline U.S. flights are still using Russian airspace. Previously, only eight weekly flights by Chinese carriers were allowed. The 12 weekly flights are a small fraction of the more than 150 round-trip flights allowed by each side before restrictions were imposed in early 2020 due to the COVID-19 pandemic.

Persons: International Affairs Annie Petsonk, Biden, Petsonk, USDOT, David Shepardson, David Gregorio Our Organizations: U.S, U.S . Transportation Department, Aviation, International Affairs, Air China, China, Xiamen Airlines, China Southern, Embassy, Airlines for, Thomson Locations: United States, Russia, Washington, Ukraine, Beijing, China, New York, Shanghai Los Angeles, Xiamen, Los Angeles, Guangzhou, U.S, Airlines for America

☆ Air Canada pilots end 10-year contract framework, eye bargaining
▼ + stars: | 2023-05-29 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

Air Canada pilots have previously said they are pressing for "historic" gains to narrow the earnings gap with higher-paid aviators at U.S. carriers. "We were willing to meet with the company if they wanted to provide us with a substantial proposal that would further our membership’s goals," said the letter, adding Air Canada did not seek to open discussions. The Air Canada pilots group, which joined the Air Line Pilots Association (ALPA) this month, said in a separate document it expects a notice to bargain to be provided in early June. "Our pilots may elect to use the option that was available to them to initiate bargaining for a new collective agreement," Montreal-based Air Canada said in an emailed statement. U.S. pilots made gains in a recent tentative agreement with American Airlines (AAL.O) and a separate deal with Delta Air Lines (DAL.N) which delivers a 34% pay increase over four years.

☆ Strikes, Delays and Lost Luggage: How to Survive Air Travel This Summer
▼ + stars: | 2023-05-25 | by ( Elaine Glusac | The New York Times | ) www.nytimes.com time to read: +27 min

Illustration by Yukai Du Strikes, Delays and Lost Luggage: How to Survive Air Travel This Summer With the travel season in full swing, we compiled a guide to help you navigate the year’s most hectic time in the skies. If you don’t care which beach, shop around.” If you haven’t booked summer flights, do it now. For one, avoiding the airports with the highest levels of delays and cancellations last summer may be a good idea. They’re also getting longer inside airport lounges, longtime havens from the masses clogging the terminals at peak times. Standard membership in Priority Pass, a network of 1,300 airport lounges, starts at $99 a year, with each visit costing $35 at that level.

Persons: Yukai Du, we’ve, haven’t, Hopper, What’s, ”, Laura Lindsay, Ted Rossman, Priceline, Mr, Rossman, Charlotte Douglas, Toronto Pearson, it’s, “, Carter Langston, Rhonda Lawson, C.B.P, you’ve, you’re, You’ll, Lawson, Emmanuel Macron, Tomasz Pawliszyn, Jamie Larounis, Larounis, they’re, SITA —, They’re, Eric Goldmann of Atlanta Organizations: Bureau of Labor Statistics, Google, Miami, JetBlue, Heathrow Airport, Amsterdam Schiphol, Gatwick, Air Canada, Labor, Newark Liberty International, La Guardia Airport, Kennedy Airport, Reagan, Miami International, Orlando International, Boston Logan International, Charlotte Douglas International, Toronto Pearson, Federal Aviation Administration, Washington , D.C, Customs, Western, Gulf, Phoenix, Transportation Security Administration, Global, Border Protection, Clear, PreCheck, Heathrow, Air, SNCF, U.S . State Department, Smart, Union, Travelers, New Tech, Airlines, Lufthansa, Siemens, Alaska Airlines, KLM, U.S . Bureau of Transportation Statistics, Apple, The Department of Transportation, American, Venture, Dallas Fort Worth International, JPMorgan Chase, Club, Chase Sapphire Reserve, Americas Locations: Europe, United States, Asia, San Francisco, Jacksonville, Fla, Miami, London, Amsterdam, U.S, La, New York, Washington, Charlotte, N.C, Newark, Orlando, Toronto, Sydney, Jakarta, Frankfurt, Munich, Heathrow, Washington ,, States, Denver, Seattle, Reno, Nev, Gulf Coast, Atlantic, Houston , New Orleans, Atlanta, Luton, T.S.A, ’, noncitizens, France, Britain, Italy, Germany, Berlin, Dutch, Swiss, Delta, United, Hong Kong, Dallas, Boston, North, Central, South America, Dallas , Newark

☆ American Airlines, pilots reach preliminary labor deal
▼ + stars: | 2023-05-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An American Airlines plane prepares to land at the Miami International Airport on May 02, 2023 in Miami, Florida. American Airlines and its pilots have reached a preliminary agreement for a new four-year labor contract after months of tense negotiations, a milestone for the country's biggest carrier. The airline was prepared to offer 40% cumulative raises in a four-year deal, American Airlines CEO Robert Isom said in March. American Airlines CEO Robert Isom said in March. Pilots at United Airlines , Southwest Airlines and FedEx are still in negotiations.

☆ A man destined for Alzheimer's defied that fate. Now scientists want to know how
▼ + stars: | 2023-05-15 | by ( Brenda Goodman | ) edition.cnn.com time to read: +5 min

He seems to have been protected by a rare gene change that enhanced the function of a protein that helps nerve cells communicate. Scientists say that understanding how this gene change defended his brain may help prevent Alzheimer’s in other people. “Another big insight from this case is, it seems like maybe you don’t need this everywhere in the brain,” Arboleda-Velasquez said. This is the pathway that is important for extreme protection against Alzheimer’s,’ ” Arboleda-Velasquez said. The sister of the man in the new study also shared the rare protective gene change, and it helped her, but not as much.

The U.S. Department of Transportation did not specify how much cash it aims to require airlines to pay passengers for significant delays. But it asked carriers last year whether they would agree to pay at least $100 for delays of at least three hours caused by airlines. A July 2021 proposal to require airlines to refund consumers fees for baggage that is delayed, or onboard service like Wi-Fi that do not work, are still not finalized. The Transportation Department said it plans to write regulations that will require airlines to cover expenses such as meals and hotels if carriers are responsible for stranding passengers. In October, Reuters first reported major U.S. airlines opposed Transportation Department plans to update its dashboard to show whether carriers would voluntarily compensate passengers for lengthy delays within airlines' control.

It is the latest in a series of moves by the Biden administration to crack down on airlines and bolster passenger consumer protections. "When an airline causes a flight cancellation or delay, passengers should not foot the bill,” U.S. Transportation Secretary (USDOT) Pete Buttigieg said in a statement. Most carriers voluntarily committed in August 2022 to providing hotels or meals but resisted providing cash compensation for delays. The Biden administration has sparred with U.S. airlines over who was to blame for hundreds of thousands of flight disruptions last year. In October, Reuters first reported major U.S. airlines opposed USDOT plans to update its dashboard to show whether carriers would voluntarily compensate passengers for lengthy delays within airlines' control.

☆ How U.S. airlines make $7 billion a year from checked bags
▼ + stars: | 2023-05-07 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

U.S. airlines had baggage fee revenue of more than $6.7 billion last year, according to the Bureau of Transportation Statistics. American Airlines alone earned almost $1.4 billion from checked bags, accounting for more than 2% of the carrier's full-year revenue. For decades, most bags flew for free, but in recent years fees have surged, boosting the bottom line of the nation's carriers. U.S. carriers hauled more than 470 million passenger bags last year. So what steps do airlines take to prevent lost luggage and how does Delta Air Lines move 100,000 bags a day through the world's busiest airport?

Landing of aircraft at night and in bad weather, for instance - crucial to regular offshore carrier operations - remain far from routine, several of the attaches and analysts said. "Carrier operations are a very complicated game, and China's got to figure this out all by itself. A new plane, the KJ-600, designed to perform a similar role to the E-2C/D Hawkeye launched from U.S. carriers, is still in testing, according to the Pentagon's latest annual report on China's military. Several countries operate aircraft carriers but the U.S. remains the most dominant, running 11 carrier battlegroups with global reach. A September editorial published in a magazine run by a PLA weapons manufacturer, titled "Four great advantages the PLA has in attacking Taiwan", did not mention the role of Chinese carriers.

☆ Biden administration OKs boost in Chinese airline flights to US
▼ + stars: | 2023-05-04 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

USDOT's order said its goal was "a gradual, broader reopening of the U.S.-China air services market." U.S. carriers American Airlines (AAL.O), Delta Air Lines (DAL.N), and United Airlines (UAL.O) operate scheduled passenger services between the countries, as do Chinese operators Xiamen Airlines, Air China (601111.SS), China Southern Airlines (600029.SS) and China Eastern Airlines (600115.SS). USDOT noted American began operating two additional roundtrip weekly flights to Shanghai from Texas in March after Chinese pandemic restrictions were dropped. USDOT said in its order that Chinese restrictions on air travel "had, and continue to have, a devastating effect on the U.S.-China air transport market." In February, two key senators issued a letter urging the Biden administration to halt Chinese airlines and other non-American carriers from flying over Russia on U.S. routes, which gives them an advantage in fuel burn and flying time.

☆ Apple's quarter eases concerns about mobile device demand, with a China sales beat to boot
▼ + stars: | 2023-05-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Revenue in Apple's fiscal second quarter of $94.84 billion dropped 3% year-over-year but beat expectations of $92.96 billion. Bottom line Apple bounced back nicely from the supply-constrained December quarter to deliver record March quarter results across a few key categories and metrics. It's hard to tell if Apple's results were enough to send shares in the near term back to all-time highs of about $176 each, set back in August. In its March quarter, Apple returned $23 billion via the repurchase of 129 million shares valued at $19.1 billion and $3.7 billion in dividends. For the current June quarter, Apple expects year-over-year revenue performance to be similar to the March quarter result, assuming no worsening macro outlook.

☆ Delta Air Lines' profit miss on higher fuel costs clouds strong forecast
▼ + stars: | 2023-04-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday forecast higher-than-expected profit for the current quarter, citing "record" bookings for summer travel, even as the carrier missed first-quarter profit estimates due to higher fuel and labor costs. Rivals American Airlines and United Airlines were down about 1%. American Airlines (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining rival United Airlines (UAL.O) in signaling a hit from higher costs. U.S. carriers have tried to leverage travel demand with higher ticket prices to offset rising labor and fuel bills. For the June quarter, Delta expects its revenue to rise 15% to 17% from a year earlier on capacity growth of 17%.

☆ Delta Air offers bullish outlook on international travel demand
▼ + stars: | 2023-04-13 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +3 min

CHICAGO, April 13 (Reuters) - Delta Air Lines (DAL.N) on Thursday forecast higher-than-expected profit for the second quarter, citing "record" bookings for summer travel, including strong demand for international trips. "Consumers are anxious to travel," he said, adding that demand for international travel was especially strong this summer and travelers were booking trips well in advance. Travel demand in the United States is currently strong but rising interest rates, persistently high inflation, mounting job losses and a turmoil in the banking industry have cast a shadow over consumer spending. Delta expects an adjusted profit of $2.00 to $2.25 per share in the second quarter, with an operating margin of 14% to 16%. Delta retained its full-year earnings forecast after reporting adjusted profit for the first quarter of 25 cents a share, below 30 cents a share expected by analysts.

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