Caroline Woods brings you the biggest news of the day, including why airlines are seeing less demand from flyers.
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00:00Travel demand is down and while there are a host of factors contributing to the pullback,
00:04one stands out more than the rest, fear. After a fatal American Airlines crash in January and
00:10a Delta flight flipping upside down upon landing in February, flyers are opting not to fly.
00:16Speaking at the JPMorgan Chase Investor Conference, Delta CEO Ed Bastian said,
00:21we saw a pretty immediate stall in both corporate travel and bookings,
00:25consumer confidence and certainty in air travel started to wane a little bit as
00:29questions of safety came in. Now, Bastian did not reveal just how much ticket sales have slowed.
00:35American Airlines was forced to cut its revenue outlook for the quarter in the wake of a fatal
00:40crash in Washington, D.C. The airline expected a three to five percent increase from a year ago,
00:45but now expects revenue to remain flat. But CEO Robert Isom said fear isn't the only reason for
00:52the slowdown. He said economic uncertainty is also playing a big part in the falling demand.
00:58The National Transportation Safety Board has yet to determine causes for either crash.
01:03That'll do it for your daily briefing from the New York Stock Exchange.
01:06I'm Caroline Woods with The Street.