Delta Air Lines Inc

DAL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$88.00	Mljt	Vbtyrgly

Delta Earnings: Higher Structural Costs Will Lead to New Equilibrium; Fair Value Down $1 to $40

Nicolas Owens

Oct 12, 2023

We've lowered our fair value estimate for no-moat Delta Air Lines to $40 per share from $41 to reflect incremental increases in the carrier's persistent operating costs and slightly higher average fuel costs in the near term than we previously anticipated.

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