Delta Air, Riyadh Air unveil strategic partnership By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 09 2024
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Source: Investing.com
- Partnership with Delta Air Lines: Riyadh Air partners with U.S. carrier Delta Air Lines to expand its network before launching commercial operations next year.
- Second National Airline for Saudi Arabia: Riyadh Air, owned by Saudi sovereign wealth fund PIF, will be the second national airline based in Riyadh alongside Saudia.
- Exclusive Partnership in North America: Delta will be Riyadh Air's exclusive partner in North America, providing access to numerous U.S. destinations for Riyadh Air customers.
- Expansion of Destinations: The partnership will introduce new destinations in Saudi Arabia for Delta's customers, with plans for future nonstop service to Riyadh.
- Future Plans for Collaboration: Delta and Riyadh Air aim to expand the partnership into a joint venture for network planning collaboration, pending regulatory approvals.
Analyst Views on DAL
Wall Street analysts forecast DAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DAL is 81.36 USD with a low forecast of 69.00 USD and a high forecast of 90.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
16 Buy
0 Hold
0 Sell
Strong Buy
Current: 68.950
Low
69.00
Averages
81.36
High
90.00
Current: 68.950
Low
69.00
Averages
81.36
High
90.00
About DAL
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company has hubs and markets in Amsterdam, Atlanta, Bogota, Boston, Detroit, Lima, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Santiago (Chile), Sao Paulo, Seattle, Seoul-Incheon, and Tokyo. Its segments include Airline and Refinery. Its airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and includes its loyalty program, as well as other ancillary businesses. Its refinery segment operates for the benefit of the airline segment by providing jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third parties. The refinery's production consists of jet fuel as well as non-jet fuel products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
