Delta Air Lines shares climb over 11% even as carrier forecasts higher fuel costs in second quarter

Delta Air Lines Inc. shares climbed more than 11% in early session on Wednesday amid a broad rally for travel equities, even as the company issued a lower-than-anticipated profit forecast for the second quarter.

The Atlanta-based carrier anticipates more than $2 billion in additional fuel expenditures through June due to the ongoing Iran conflict, leading management to adopt a cautious stance and maintain its existing full year earnings target.