In previous guidance submitted to the U.S. Securities and Exchange Commission, the Atlanta-based airline had said it expected to see revenue increase between 7% and 9%. On Monday, citing consumer and corporate confidence dropping, the company cut its revenue projections by more than half.

Delta Air Lines slashed its first-quarter earnings and revenue guidance, citing recently reduced consumer and corporate confidence amid “increased macro uncertainty.”The Atlanta-based carrier cut its first-quarter revenue growth forecast to 3% to 4%,