Morning Edition · Mon 12 Oct 2026
Delta Cuts 2026 Profit Forecast as $6 Billion Fuel Bill Bites
Delta Air Lines cut its 2026 profit outlook and missed earnings estimates for the first time in two years as jet fuel costs surged, though its chief executive said demand remains strong, CNBC reported.
Chanan Zevin - Chief Editor and Head of Desks
Published
A lower outlook
Delta forecast full-year adjusted earnings of $5.10 to $5.60 a share, down from the $6.50 to $7.50 it expected in July when fuel was cheaper, CNBC reported. The airline also cut its free cash flow outlook for the year to $2.5 billion.
Third-quarter adjusted revenue was $17.59 billion against $17.67 billion expected, according to CNBC. Net income fell 47% to $756 million.
Fuel costs and fares
CEO Ed Bastian told CNBC that fares have kept rising as the airline passes on much of a $6 billion increase in fuel costs this year. Jet fuel in the US Gulf of Mexico region almost doubled to $4.34 a gallon from $2.19 a year earlier, CNBC said.
“The consumer response continues to be quite strong,” Bastian said. Delta forecast a 20% rise in fourth-quarter revenue from a year earlier, adjusted for its refinery, compared with a 16% rise in the third quarter, CNBC reported.