The airline industry is in a tight spot as Delta struggles to compete with the growth of new competitors like United and American Airlines.
Delta has been under intense scrutiny by the Federal Trade Commission over allegations that its executives and employees engaged in unfair and deceptive business practices, and that the company retaliated against employees for criticizing the company.
The company has since fired two executives, suspended two others and announced it would pay a $100 million settlement to settle claims from employees and customers that they were retaliated upon speaking out.
But analysts believe Delta may be getting a lot worse for its stock because it is under pressure from investors, analysts say.
The airline has lost more than a third of its value since its 2008 IPO, and its shares have plunged from about $3.90 to about $1.50.
The Nasdaq-tracking Dow Jones Industrial Average dropped about 1 percent to 2,931.
The S&P 500 lost 2.6 percent to 1,927.
The Nasdaq Composite lost 3.6 per cent to 2 and the Russell 2000 dropped 2.3 per cent.
While the stock has gained in recent days, analysts believe it may be too early to be bullish on Delta’s prospects, given the airline’s poor performance.
Delta, a unit of American Airlines, lost about 1.6 million U.S. jobs in the third quarter, according to data compiled by Bloomberg.
The airline has suffered from a host of problems, including a $1 billion lawsuit against Delta by employees and consumers alleging that Delta retaliated for them for expressing discontent with management and its culture.
Delta’s stock dropped almost $300 in two trading sessions Thursday, according the Bloomberg Billion Stock Market Index.
Drones are used in the skies to test the stability of aircraft, which is why Delta was a potential target for hackers who could hack the company’s data systems, the FTC said in its lawsuit against the company last year.
The lawsuit was dismissed in October, according a company spokeswoman.
Delta, which has about 4,000 employees and has been in the spotlight in recent years due to its handling of sexual harassment claims against former flight attendants, has been plagued by a string of high-profile sexual harassment complaints, including one by a flight attendant who claimed she was fired after being accused of kissing and groping her.
The SEC complaint also alleged that Delta’s managers retaliated after one of its pilots complained about Delta’s lack of a women-friendly culture, according in an interview with Bloomberg.
Delta has been on a hiring spree since the election, with the airline hiring nearly 800 workers last month, according Bloomberg.
The company is also working to hire more employees, the Bloomberg article said.
The FAA’s announcement Friday that it would grant Delta more authority over drones comes as Delta has already started to sell its drone technology to other carriers.
Delta announced Thursday it was selling a system that would allow pilots to monitor and control unmanned aircraft, Reuters reported.
The plan is to sell the system to an aviation company and use it to fly drones.
Delta Airlines is down almost 20% in 2017 and has suffered a major crash in earnings, according to investors.
Delta has been struggling to turn around its fortunes since CEO Dov Charney was fired last year, and has struggled to find a path to profitability as it struggles to keep pace with rising airline costs and lower ticket prices.
The company’s stock price has dropped almost 20%, according to data from S&P Global Market Intelligence, falling from $67.60 on Dec. 29 to $67 at the close of business on Monday.
But that is just a drop in the bucket.
For the year, Delta has lost $5.7 billion in earnings.
For 2017, the airline lost $9.6 billion, or about 6.3%.
Delta Airlines has been in a slump since Charney stepped down last year after just one year on the job.
Delta was founded in 1978 and has been owned by private equity firm Blackstone Group since 2007.
Delta’s stock has dropped by nearly 20% this year, but it is still a relatively cheap stock compared to other airlines, such as US Airways and Southwest.
The airline lost nearly $10 billion in 2016, according a report by Blackstone, but lost about half that to its shareholders in 2017.
Delta has been one of the biggest losers in the airline industry this year.
The average price of Delta’s shares fell more than $3,200 over the past year.
That’s the biggest drop in 10 years.
The drop is also about 40% more than the average decline in Delta’s share price in the first half of 2017.
The share price also lost about $200 per share from the first quarter of last year.
In its earnings release last week, Delta said it expected a loss of $7.4 billion for the year.
It said it is expected to report earnings per share of $1.43 this year and $1,084 next year.
Delta also has struggled with rising fuel costs and increased costs for air-transportation in the U.S. as well as the effect of a global climate change trend on the airline.
The cost of operating the company’s airlines has been the biggest driver of Delta.
That has resulted in Delta losing money on every major revenue stream.
That includes fuel, ticket sales, food and other services.
Delta will have to cut some of its revenue by $1 billion next year to meet the new fuel costs, but the company said it will be able to survive that if it can keep flying planes.
It is unclear how much Delta will actually cut.
A spokesman for Delta declined to comment.
“Delta will continue to work diligently to find solutions that can continue to improve its bottom line,” the spokesman said.
The stock has fallen in recent months because of the company cutting costs and other expenses.
A Delta spokesman declined to give specific numbers for 2017, but said the company is looking to cut expenses by $600 million this year in an effort to cut costs by 20% by 2019.
Delta plans to spend $1-billion to increase its fleet of planes and hire more pilots, and that effort is expected in the coming weeks, the spokesman added.
Delta Airlines said it expects to have 50,000 more seats on its planes by the end of the year as a result of the new costs.
The number of flights Delta will add to its fleet by 2019 will likely be about 50, according, a spokesman for the airline said.
“We are committed to continuing to grow our business in the United States and around the world,” the Delta spokesman said in an emailed statement.
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