Delta Air Lines, Inc. ( DAL ) cut its first-quarter revenue and profit guidance after Monday's closing bell sending a shockwave throughout the airline sector. 

The Details: Delta said it now expects to deliver total revenue growth for the March quarter of 3% to 4% year-over-year, down from earlier forecasts of 7% to 9% growth. The airline also reduced its expected EPS to between 30 cents and 50 cents per share, down from previous guidance of 70 cents to $1 per share. 

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Delta said its outlook was impacted by recent declines in consumer confidence amid economic uncertainty leading to softness in domestic demand. 

Delta Air Lines ( DAL ) CEO Ed Bastian told CNBC that corporate and consumer spending have started to fall and recent air safety incidents have had an impact on bookings as well. 

Airline Sector: Other airline stocks, including American Airlines Group, Inc. ( AAL ) and United Airlines Holdings, Inc. ( UAL ) were also sharply lower following the announcement from Delta. 

Investors can monitor the airline industry though the U.S. Global Jets ETF ( JETS ) , which provides diversified exposure to the global airline industry, including airline operators, aircraft manufacturers, airports and terminal services companies. 

DAL Price Action: According to Benzinga Pro, Delta Air Lines ( DAL ) shares were down 13.09% at $43.74 after falling 5.51% during Monday's regular trading session. 

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