Delta said it couldn’t reaffirm its 2025 financial guidance.

Corporate and domestic leisure travel has stalled since late February, according to Delta, the first major airline to release earnings since widespread tariffs were announced.

Delta Air Lines warned that revenue could fall in the current quarter and that “growth has largely stalled,” forcing it to drop plans to offer more seats to passengers, in another warning sign about a possible recession hitting even businesses not directly impacted by recent tariffs.