Airline stocks crater after Delta issues slightly lower revenue growth outlook

Shares of U.S. airlines tumbled on Thursday after Delta Air Lines forecast slightly lower revenue growth in the fourth quarter of 2018.

Delta shares were down more than 7 percent early in the session, while American Airlines dropped 10 percent to its lowest price since July 2016. United Airlines was down more than 5 percent, while Southwest Airlines shares were trading more than 4 percent lower.

Delta issued fourth-quarter guidance of a previous outlook it provided in the fall, but said yield growth from last-minute bookings "was more modest than anticipated" in December.

Delta is expected to report fourth-quarter earnings in mid-January.

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