Delta Air Lines expects to return to margin expansion by year-end
CEO Ed Bastian says seen early success in addressing the fuel cost increase. Says expects fuel expenses to increase about $2B for the rest of the year. Says expects to return to margin expansion by year-end. Says seeing "outstanding" results in growing top-line. Says continuing to invest in international franchise. Says while higher fuel prices are pressuring near-term results, company remains on track to deliver a strong year. Says looking towards 2019, company is confident in ability to derive long-term value for owners. President Glen Haustein says confident will capture most recent leg of the fuel run-up in 2H18. Says forward bookings in the Caribbean remain a "bright spot". Says committed to continuing to improve products and footprint. Sees segmentation initiatives as one of the company's largest commercial opportunities. CFO Paul Jacobson says year-over-year increases in fuel should moderate to about 20% in the December quarter. Says 2H18 is expected to be "an inflection point" in CASM. Says One Delta team has made good progress. Says on pace to complete current share repurchase authorization in 2020. Comments taken from Q2 earnings conference call.