Airline stocks were under pressure Tuesday after grim quarterly results for Delta Air Lines Inc. and a downgrade for American Airlines Group Inc.

Delta DAL, -2.17% earlier Tuesday reported a wider-than-expected third-quarter loss as passenger revenue dropped 83%. Sales fell 76% to $3.06 billion, also below Wall Street expectations.

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Analyst Stephen Trent at Citi kept his buy rating on Delta shares, saying that Delta’s response to the pandemic and the crimp that travel restrictions put on air travel “looks about as good as any global network carrier

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