Delta Sees Strong Fares

It's been Zynga bringing Wall Street to Main Street. Delta CEO Ed Bastian said the airline can meet its original profit goal by passing higher fuel costs to customers while maintaining strong fares as oil prices decline, according to CNBC. The airline forecast third-quarter earnings of $2 to $2.50 per share compared with analysts' estimate of $2.02 and projected revenue growth in the mid-teens. The airline also reaffirmed its full-year earnings forecast of $6.50 to $7.50 per share. Bastian said Delta is benefiting from strong demand among higher-income customers. Premium ticket revenue reached $6.92 billion in the quarter, exceeding the $6.85 billion generated by main cabin sales. Airlines reduced growth and cut unprofitable routes as fuel costs surged, helping push May airfares nearly 27 percent higher from a year earlier. Delta passed about 60 percent of its higher fuel costs to customers and expects to recover nearly all of them this quarter. For all things money, visit Benzinga.com.