Delta Air Lines Says Hurricane Florence Cost it $30 Million
Delta's stock is down after the airline said it took a $30 million hit from Hurricane Florence and is paying more for fuel.
Last month's hurricane caused at least 3,500 flight cancellations, mostly in the Carolinas. Delta did not say how many of its flights were lost.
Delta Air Lines Inc. said Tuesday its third-quarter revenue for every seat flown one mile rose between 4 and 4.5 percent, a sign of rising prices.
It says the extra revenue will help "partially offset" a 35 percent increase in spot fuel prices in the past year.
The Atlanta-based airline expects to report adjusted profit of $1.70 to $1.80 per share for the third quarter. Analysts expected $1.78.
Its stock was down about 3.5 percent in afternoon trading. Other airline stocks also fell.