The Latest Breaking News from Ed Bastian

The service will launch first in Los Angeles and New York

As the markets and economists brace for economic downturn, Delta Air Lines Inc. CEO Ed Bastian says he's not concerned about a global recession given the demand the airline industry is seeing.

Delta Air Lines on Wednesday said it will halt flight growth for the remainder of the year despite surging demand to avoid mass cancellations that have plagued the carrier so far this summer.

After pushing through storms and some flight cancellations over the busy Fourth of July weekend, airlines and their passengers face the challenge of navigating through the rest of a busy summer.

The biggest crowds of July 4 holiday travelers since the COVID-19 pandemic jostled their way through U.S. airports this weekend, keeping stress on an already beleaguered transportation system.

After a traveler said Delta Air Lines recently offered passengers $10,000 in cash to take a later flight after overbooking, many were shocked and started considering what their airplane seat might be worth.

People across the U.S. are expected to fly in the highest numbers since the start of the COVID-19 pandemic for the July 4 holiday weekend, stressing a beleaguered transportation system experiencing tens of thousands of cancellations and delays.

Delta is offering an unusual waiver to try to get customers to rebook

Delta Air Lines Inc (NYSE:DAL) and United Airlines Holdings Inc (NASDAQ:UAL) downplayed the prospect of a U.S. economic recession, saying a shift in consumer spending from goods to services would keep their businesses afloat, reported Reuters. Delta Airlines lifted its June quarter's revenue guidance but on a lower capacity than planned. Related: Why Delta Air Lines…