CHICAGO (Reuters) -Delta Air Lines ( DAL ) on Monday slashed its profit estimates for the current quarter through March, citing increased macroeconomic uncertainty.

The Atlanta-based company said it now expects a profit in the range of 30 cents-50 cents a share, compared with 70 cents and $1 a share estimated in January.

Analysts on average expected the company to report a quarterly profit of 86 cents per share, according to data compiled by LSEG.

Delta's shares were down 9% in after-hours trading.

The company said domestic travel demand has softened due to a reduction in consumer and corporate confidence. However, its premium, international and loyalty revenue remained resilient.