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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