Delta Air Lines’ recent positive guidance revisions reflect the benefits of a strong demand environment produced in part by competitors’ struggles to fill capacity voids created by the grounding of Boeing 737 MAXs, analysts at Cowen & Co. say. The Atlanta-based carrier reported July 2 that total second-quarter revenue will be up 8%-8.5% as unit revenue climbs 3.5%—at the high end of its April guidance. Nonfuel unit costs will rise 1%, in line with expectations that ...

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