Delta Air Lines' Stock Drops As February PRASM, Load Factor Decline

Delta Air Lines Inc.'s stock dropped 1.6% in premarket trade Wednesday, after the air carrier reported declines in a key performance metrics in February. Passenger revenue per available seat mile (PRASM) for the month fell 5.5% from the same period a year ago. Total system load factor declined to 79.7% from 80.3%, with declines in the U.S. offsetting increases in international. Load factor fell as capacity increased 6%, more than the 5.3% growth in traffic. The stock has gained 1.2% over the past three months through Tuesday, compared with the NYSE Arca Airline Index's 7.7% decline and the S&P 500 Index's 3.2% slip.