Bloomberg Surveillance Bloomberg Surveillance TV: January 14th, 2026
Jan 14, 2026
Ed Bastian, CEO of Delta Air Lines, shares insights on premium demand and growth strategies. He discusses the airline's cautious earnings guidance for 2026 amid expanding international operations. Edward Mills, a managing director at Raymond James, analyzes the potential impact of new credit-card policies and political populism on financial access. Alexander Altmann from Barclays highlights the implications of US-China decoupling on commodity security and demand for critical metals, connecting these themes to current market dynamics.
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Cautious Optimism On 2026 Growth
- Delta guided 20% EPS growth for 2026 but kept cautious given late-year shocks and uneven demand.
- Ed Bastian emphasized momentum but preserved wiggle room for unpredictable headwinds.
Rate-Cap Proposal Could Chill Credit Access
- Proposed 10% cap on credit card rates raises big questions but remains speculative and requires legislation.
- Ed Bastian warned it could reduce credit access and disrupt bank lending capacity.
Amex Partnership Drives Premium Revenue
- Delta's co-branded Amex relationship is a meaningful and growing revenue stream, expected to grow high single digits in the current year.
- Bastian called Amex a premium card provider aligned with Delta's premium customer base.