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Financial News Network
March 23, 2011 AT 8:16 PM
Delta Air Lines (NYSE:DAL) has scaled down its growth plans for the year, as higher fuel prices caused by unrest in the Middle East, along with flight disruptions due to the Japanese earthquake, have slammed the industry.Despite the difficult current environment, the company was able to increase its Q1 unit-revenue, a metric that measures ticket prices.Delta President Ed Bastian Tuesday at an analyst meeting in New York said, "We've seen an unprecedented level of price discipline in the industry, We've had eight fare increases since the beginning of the year and we added another one on Monday afternoon."Delta said it will reduce capacity by 2% in the second half of the year, versus its prior plan to raise capacity by 2%.For Q1, it expects unit revenue to climb 7% to 8%, with unit costs excluding fuel rising 2% to 3%.