A Delta Airlines plane flies into Portland International Airport in Oregon on Monday.
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U.S. airline investors, already absorbing the worst monthly stock performance in a year, are bracing for more disappointment. A Standard & Poor's index of the five biggest U.S. airlines plunged about 7.5 percent in August, wiping out about $10 billion in market value. Delta's unit revenue this quarter is now seen rising 2 percent to 3 percent, instead of the previous 2.5 percent to 4.5 percent.Delta slipped 0.6 percent at 9:59 a.m. in New York, while American fell 0.2 percent and Southwest 0.5 percent. The fare battle that started this summer between United and heavy discounters like Spirit Airlines Inc. and Frontier Airlines Inc. has since spread to others, including American and Southwest. Instead of cutting airline shares, the firm added to its position, Bradshaw said. He said that Delta boosted its dividend by 50 percent earlier this year, which suggests the airline is confident it won't be dragged down by a fare war.
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