Delta Air Lines shares tumble as the airline trims its profit outlook for the year, citing higher costs of wages, inflation, and supply chain snarls. Delta now expects profits this year between $6 and $7 a share–a modest reduction from the more than $7 per share it had previously predicted for 2024. CEO Ed Bastian says on an earnings call that he believes Delta could pull off profits above the upper end of the guidance range, but felt more caution was warranted. Airlines including Delta have struck new contracts with massive pay increases for pilots, and Delta said it also expects higher maintenance costs. Delta shares fall 8% and concerns that the industry remains vulnerable to cost creep dragged shares of other carriers down as well, with American Airlines and United Airlines also off sharply.