Updates on Delta Air Lines’ new route
On March 19, 2018, Delta Air Lines (DAL) introduced nonstop service between El Paso, Texas, and Salt Lake City, Utah, starting on October 1, 2018. The service will originate from the airline’s Salt Lake City hub, which offers more than 250 departures to 90 destinations to its passengers. At present, DAL flies three peak-day departures from El Paso.
“The timing of Delta’s inaugural nonstop service from SLC to El Paso couldn’t be better,” noted Bill Wyatt, the executive director of Salt Lake City International Airport. “This new service is just in time for visitors to enjoy Utah’s fall splendor and to plan a winter vacation to ski the greatest snow on earth.”
DAL and Virgin Atlantic launched additional nonstop flights between the US and the UK. These flights are expected to offer about 5.0 million seats between the US and the UK this summer.
Update on DAL’s stock price
The sell-off in the market reflected on DAL stock, which declined 4.9% and closed at $53.90. The stock traded marginally below the 100-day moving average price of $53.95.
On a year-to-date basis, the stock has declined 3.8%. It peers Southwest Airlines (LUV), American Airlines (AAL), and JetBlue Airways (JBLU) fell 14.4%, 2.0%, and 6.7%, respectively. However, DAL’s 14-day relative strength index of 43 indicates that the stock is neither overbought nor oversold.
Investors can indirectly hold DAL via the PowerShares Dynamic Leisure and Entertainment Portfolio ETF (PEJ), which invested 5.2% of its portfolio in DAL on March 23, 2018.