Higher Margins and Possibly Lower Taxes on the Horizon for Delta; FVE Increase Planned
No-moat Delta Airlines reported first-quarter 2017 results and provided guidance for the second quarter. Given solid air traffic demand and Delta’s disciplined capacity expansion, we plan to slightly raise our operating margin projections for 2017 and 2018. The firm also raised $2 billion in unsecured debt during the quarter and used the proceeds to fund a $1.5 billion pension contribution. In anticipation of tax reform in the U.S., we plan to decrease our federal statutory tax rate to 25% from ...Delta Air Lines provides scheduled air transportation for passengers and cargo. The company serves the Transatlantic, Transpacific and Latin America markets directly on the company and through joint ventures with airline partners. Internationally, the company has hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle and Seoul-Incheon. These arrangements are commercial joint ventures that include joint sales and marketing coordination, co-location of airport facilities and other commercial cooperation arrangements. The company has other businesses arising from its airline operations, including providing maintenance and engineering support for its regional aircraft.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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