Americans are traveling in record numbers this summer, but Delta Air Lines said Thursday that it saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry.
The airline is also predicting a lower profit than Wall Street expects for the third quarter.
On a call with analysts and reporters, Delta CEO Ed Bastian sent a clear message to low-cost carriers: Slow your growth to end the oversupply of seats on domestic routes.
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