Delta Air Lines slashes 2025 forecast, blames Trump tariffs and weak bookings

Delta Air Lines CEO Ed Bastian has criticized President Trump’s tariffs as “the wrong approach,” saying they’ve contributed to a sharp slowdown in bookings and forced the airline to withdraw its 2025 financial forecast. Delta now plans no growth in flight capacity for the second half of 2025, reversing earlier plans for a 3–4% expansion.

Key takeaways

• Delta cut its 2025 growth plans and will no longer reaffirm its full-year guidance.
• CEO Bastian cites weakening consumer and corporate confidence, slowed travel demand since mid-February, and economic uncertainty driven by Trump’s trade policies.
• Main cabin bookings are notably weaker, while international and premium travel remain resilient.
• Tariffs may impact aircraft costs; Delta will defer Airbus deliveries affected by new duties.
• Q1 earnings beat expectations: 46 cents/share (adjusted) vs. 38 cents expected; revenue rose to $14.04B, with $12.98B in adjusted revenue matching Wall Street forecasts.

Delta is the first major U.S. airline to report earnings this quarter, with more capacity cuts expected across the industry.