Conservative 2019 guidance from Delta Air Lines, despite strong macro trends and solid fourth-quarter momentum, suggests the airline—not content with leading its peers—is paying even closer attention to Wall Street. Delta’s 2019 projections, released during its Dec. 13 investor day, include top-line revenue growth of 4-6% and non-fuel unit costs, or CASM-ex, rising no more than 1%. Fuel is projected at $65-70/barrel of Brent Crude, which should lead to $300 million in ...

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