Delta posts a $2 billion quarterly profit, but shares dip as airline trims forecast of 2024 earnings

Delta Air Lines earned $2 billion in the fourth quarter, posted record full-year revenue, and says it is buying more planes to boost its international flying. The airline’s shares fell 9% Friday, however, as the company pulled back on its profit forecast for 2024. Delta said full-year earnings will be $6 to $7 a share — down from an earlier prediction of more than $7 a share. Analysts had already trimmed their expectations to $6.50 a year, but the update from Delta was enough to spook investors. Delta is the first U.S. airline to post fourth-quarter results, and its report sent shares of American, United, Southwest, Alaska and JetBlue down between 4% and 11%. Delta said Friday that it will buy 20 Airbus A350s and take options to buy 20 more of the long-range jetliners. Delta expects to get the first ones in 2026. The A350s will have more premium seating than the planes they replace, which will play into Delta’s strategy of pursuing high-end travelers who are more insulated from ups and downs in the economy. Airlines were helped in 2023 by strong demand for travel from people who had spent most of the pandemic cooped up at home....