Delta Air Lines (DAL) traded lower on December 30, 2025, facing pressure from a broader market decline and significant geopolitical headwinds after China's military exercises disrupted nearly 1,000 international flights across the region.

  • Despite the recent decline, DAL stock has seen strong performance, rising 41.1% over the past six months to $69.40.
  • Analysts remain cautious, citing underwhelming revenue passenger mile growth (5.7% year-over-year) and significant liquidity constraints (current ratio 0.4).
  • The stock trades at a fair 10.5× forward P/E, but its Altman Z-Score of 1.47 indicates a risk of financial distress.