Shares of U.S. airlines tumbled on Thursday after Delta Air Lines forecast slightly lower revenue growth in the fourth quarter of 2018.
Delta shares were down more than 7 percent early in the session, while American Airlines dropped 10 percent to its lowest price since July 2016. United Airlines was down more than 5 percent, while Southwest Airline sshares were trading more than 4 percent lower.
Delta issued fourth-quarter guidance at the high end of a previous outlook it provided in the fall, but said yield growth from last-minute bookings “was more modest than anticipated” in December.
Delta is expected to report fourth-quarter earnings in mid-January.