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Ryanair Holdings PLC (RYAAY) - $25 value - yours FREE >>
Delta Air Lines, Inc. (DAL) - $25 value - yours FREE >>
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Ryanair Holdings PLC (RYAAY) - $25 value - yours FREE >>
Delta Air Lines, Inc. (DAL) - $25 value - yours FREE >>
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Delta Suspends a Few Domestic Operations Due to Weak Demand
With air-travel demand remaining low, Delta Air Lines (DAL - Free Report) has suspended flights to 11 U.S. destinations. The decision, effective today, is also aimed at managing costs as the carrier tries to combat the crisis posed by the coronavirus pandemic.
The move is in accordance with the directive of the U.S. Department of Transportation, which allowed airlines to adjust their operations and reschedule flights wherever ‘reasonable and practicable’. With demand being persistently tepid at the following destinations, namely Aspen, CO, Bangor, ME, Erie, PA, Flint, MI, Fort Smith, AR, Lincoln, NE, New Bern/Morehead/Beaufort, NC, Peoria, IL, Santa Barbara, CA, Scranton/Wilkes-Barre, PA and Williston, ND, Delta suspended operations to these destinations, which make up approximately 5% of its domestic services. Despite Delta suspending operations at these airports, they will continue to be served by at least one other carrier.
Moreover, management decided to re-accommodate the concerned passengers on account of its above made decision. Further, this Atlanta, GA-based carrier decided to indefinitely suspend flights to Ottawa from Jun 21 onward due to lackluster demand.
With Delta like other airlines trimming capacity to compensate for this extremely bleak scenario, Delta announced an 85% reduction in its schedule for the June quarter. Of the total, 80% cut will be on the domestic front and 90% internationally.
Zacks Ranks & Key Picks
Delta currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Zacks Transportation sector are Air Lease Corporation (AL - Free Report) , Ryanair Holdings (RYAAY - Free Report) and Teekay Tankers Ltd. (TNK - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings (three to five years) growth rate for Air Lease, Ryanair Holdings and Teekay Tankers is estimated at 3.1%, 20.5% and 3%, respectively.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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