Delta Air Lines, Inc. Expects a Huge Windfall From Tax Reform
It has been clear from day one that airlines would be some of the biggest beneficiaries of tax reform. Most airlines pay close to the statutory tax rate today, whereas many companies in other industries benefit from big tax breaks. In addition, airlines have huge fleet-related capital costs, which will get favorable tax treatment for the next several years.
Last week, Delta Air Lines (NYSE: DAL) provided fairly detailed guidance for how it would be affected by the proposed tax law changes. Not surprisingly, it expects to reap significant savings on its income statement. The tax bill will dramatically reduce its cash tax payments as well.
At its investor day last week, Delta Air Lines provided forward earnings guidance for the first time. The company expects to generate adjusted earnings per share of $5.35-$5.70 in 2018, up about 10%-15% year over year.
Source: Fool.com
Delta Air Lines Inc. Aktie
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