NEW YORK (TheStreet) -- Delta Air Lines (DAL) is looking to nearly triple its gates at the Seattle airport, challenging market leader Alaska Air Group (ALK) , as the carrier expands its newest West Coast hub and jumping-off point to Asia, Bloomberg reports
"We're making good progress on our discussion to upgrade the facility and to turn Seattle into a huge international gateway for Delta," Chief Executive Officer Richard Andwerson said on a recorded message to employees.
Delta, the world's third-largest airline, is seeking 30 gates at Seattle-Tacoma International Airport in the long term, Anderson said on the Nov. 13 call. The airline currently has 11 gates, according to the airport, the largest base for Seattle-based Alaska, Bloomberg said.
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"We rate DELTA AIR LINES INC (DAL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."