Core Insights - Delta Air Lines (DAL) is actively restoring its Caribbean operations following the lifting of airspace restrictions by the Federal Aviation Administration (FAA), adding over 2,600 seats through extra flights and deploying larger aircraft to stabilize service [1][8] - The airline aims to reaccommodate all affected customers by January 6, 2026, as it works to normalize operations across the network [1] - Delta is managing congestion challenges at Caribbean airports and is advising customers to avoid impacted airports unless they have confirmed or rebooked tickets [2] Operational Measures - Delta has extended its travel waiver for customers traveling to or from 13 Caribbean airports through January 6, providing flexibility amid operational disruptions [3] - The airline is prioritizing safety, customer care, and operational recovery while ramping up Caribbean flying, although some delays may persist due to increased capacity and aircraft repositioning [4] Financial Performance - DAL's share price has increased by 23.3% over the past three months, outperforming the Transportation - Airline industry's growth of 19.3% [5]

Core Insights - ZTO Express reported third-quarter 2025 earnings of 43 cents per share, an improvement from the previous year, with total revenues reaching $1.66 billion, also showing year-over-year growth [1][6] Revenue Performance - Revenue from the core express delivery business increased by 11.6% year over year, driven by a 9.8% growth in parcel volume and a 1.7% increase in parcel unit price [2] - Key account revenues surged by 141.2% year over year, attributed to a rise in e-commerce return parcels [2] - Revenue from freight forwarding services declined by 7.4% year over year [2] Gross Profit and Margins - Gross profit decreased by 11.4% compared to the year-ago quarter, with the gross margin rate falling to 24.9% from 31.2% [3][6] Operating Expenses - Total operating expenses amounted to RMB550.9 million (approximately $77.4 million), an increase from RMB493.0 million in the previous year [3] Share Repurchase Program - ZTO's board approved a share repurchase program with an increased aggregate value of $2.0 billion, extended through June 30, 2026; as of September 30, 2025, ZTO had repurchased 52,919,506 ADSs for $1.3 billion, leaving $0.7 billion available under the program [4] Cash Position - ZTO Express ended the third quarter of 2025 with cash and cash equivalents of $1.31 billion, down from $1.85 billion at the end of the previous quarter [7]