Airline stocks fell in tandem Monday after Delta Air Lines Inc. lowered its forecast operating margins for the year at the Raymond James Institutional Investors Conference in Orlando, Fla. In a presentation, Delta said margins would likely contract as cost increases outpaces revenue growth with the worst of it occurring in the March quarter, calling 2017 “a transition year.” Delta said fuel prices have jumped 55% for the quarter. Shares of Delta fell 3.3%, while United Continental Holding Inc. shares declined 4.2%, American Airlines Group Inc. shares shed 4.7%, Southwest Airlines Co. fell 2.4%, and Alaska Air Group Inc. shares declined 2.5%.
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