Rising fuel costs slashed Delta’s profit outlook despite strong demand

Rising fuel prices push Delta’s annual fuel expenses up by $6bn, affecting its profit outlook for 2026.

Delta is the first of the major US carriers to report earnings [File: Jenny Evans/Getty Images]

Delta Air Lines cut its profit forecast despite heightened demand as fuel costs surge across the air travel sector.

The Atlanta-based air carrier said in its third-quarter earnings report released on Friday that it expects its annual fuel costs to jump by $6bn, as ongoing tensions between the United States and Iran have sent fuel prices surging across the global aviation sector.

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Overall, US airlines spent nearly $43bn on fuel in the first eight months of the year, a $13.2bn increase from the same period a year earlier.

On Wall Street, Delta cut its earnings outlook for the year to adjusted earnings per share of $5.10 to $5.60, down from its July forecast of $6.50 to $7.50. The midpoint of the new range is below analysts’ average estimate of $5.46, according to LSEG data.

Delta’s stock tumbled in midday trading as the trading week came to a close. It was down 1.1 percent from Friday’s opening price. While the stock has fallen 4.4 percent over the past five days, it has performed well in 2026, gaining nearly 18 percent since the beginning of the year.

CEO Ed Bastian said the airline had raised prices by roughly 20 percent this year and said those prices could be sustained even if fuel prices decline.

Delta Air Lines is the first of the major US airlines to report earnings and is generally more protected from price fluctuations than its competitors because it owns a refinery in Pennsylvania, which it acquired in 2012.

Despite higher prices, demand remains elevated, with 60 percent of flights in the fourth quarter already booked. Delta also announced several new international routes, including Seattle–Tokyo, Japan and Boston–Venice, Italy, as well as Austin-Paris, France, all beginning next year.

Bastian told the Wall Street Journal that holiday bookings also remain strong and that premium travel is growing, with premium seat revenue jumping 18 percent for the quarter compared with the same period last year.

Broadly speaking, premium flights can be a boon for major airlines, and prices in the segment are rising. Average ticket prices for premium seats across major airlines were up 11 percent compared with the same period last year, according to the Airline Reporting Corporation’s monthly report, which tracks airline ticket transactions.

But lower-income consumers are pulling back. US consumer sentiment is slumping, according to the University of Michigan’s Surveys of Consumers, which released its Consumer Sentiment Index on Friday.

“Overall, sentiment for lower-income consumers and those with smaller stock portfolios dropped steeply this month, groups that have fewer resources to weather increases in prices,” Joanne Hsu, director of the Surveys of Consumers, said in the release.

Delta’s report comes as the US summer travel season draws to a close, following reports that lower-income travellers would pull back amid rising prices. In May, 51 percent of Americans earning less than $100,000 annually said travel would be one of the first expenses they would cut, according to a report from consulting firm Deloitte.

United Airlines is the next major carrier expected to report earnings, with results slated for after the market close on October 20. Like Delta, United’s stock was down on Wall Street, falling 0.8 percent from Friday’s opening price.

燃油价格上涨导致达美航空年度燃油支出增加 60 亿美元，影响其 2026 年的盈利预期。

达美航空是美国主要航空公司中首家公布财报的公司。[图片：Jenny Evans/Getty Images]

尽管航空业燃油成本飙升，导致需求增加，但达美航空公司仍下调了盈利预期。

这家总部位于亚特兰大的航空公司在周五发布的第三季度收益报告中表示，由于美国和伊朗之间持续的紧张局势导致全球航空业燃油价格飙升，预计其年度燃油成本将增加 60 亿美元。

列表 1/3：由于系统故障，美国联邦航空管理局暂停飞往美国东海岸主要机场的航班

美国对伊朗的三项航空制裁措施之二扰乱了伊朗的航班，迫使旅客改走陆路出行。

问题 3（共 3 题）：美国禁止柴油出口会对全球燃油价格产生什么影响？

今年前八个月，美国航空公司在燃油上的支出总计近 430 亿美元，比上年同期增加了 132 亿美元。

华尔街方面，达美航空将全年盈利预期下调至调整后每股收益5.10美元至5.60美元，低于7月份预测的6.50美元至7.50美元。根据伦敦证券交易所集团（LSEG）的数据，新预期范围的中点低于分析师平均预期的5.46美元。

随着本周交易日临近尾声，达美航空股价在午盘交易中大幅下跌，较上周五开盘价下跌1.1%。尽管过去五天股价累计下跌4.4%，但其2026年至今表现良好，年初至今已累计上涨近18%。

首席执行官埃德·巴斯蒂安表示，该航空公司今年已将票价提高了约 20%，并表示即使燃油价格下降，这些票价也能维持下去。

达美航空公司是美国主要航空公司中第一家公布盈利情况的公司，而且由于其在宾夕法尼亚州拥有一家炼油厂（于 2012 年收购），因此通常比竞争对手更能抵御价格波动的影响。

尽管价格上涨，但需求依然旺盛，第四季度航班预订率已达60%。达美航空还宣布了几条新的国际航线，包括西雅图至日本东京、波士顿至意大利威尼斯以及奥斯汀至法国巴黎，所有这些航线都将于明年开通。

巴斯蒂安告诉《华尔街日报》，假日预订量依然强劲，高端旅游正在增长，本季度高端座位收入比去年同期增长了 18%。

总体而言，高端航班对大型航空公司来说是一笔可观的利润，该细分市场的价格也在上涨。据追踪机票交易的航空报告公司（Airline Reporting Corporation）的月度报告显示，与去年同期相比，主要航空公司高端座位的平均票价上涨了11%。

但低收入消费者正在减少支出。密歇根大学消费者调查中心周五发布的消费者信心指数显示，美国消费者信心正在下滑。

“总体而言，本月低收入消费者和股票投资组合较小的消费者的信心大幅下降，这些群体应对价格上涨的资源较少，”消费者调查主任 Joanne Hsu 在新闻稿中表示。

达美航空的这份报告发布之际，正值美国夏季旅游旺季接近尾声。此前有报道称，由于物价上涨，低收入旅客将减少出行。德勤咨询公司的一份报告显示，5月份，年收入低于10万美元的美国人中，有51%的人表示，旅行将是他们首先削减的开支之一。

联合航空是下一家预计将公布财报的主要航空公司，财报将于10月20日股市收盘后发布。与达美航空一样，联合航空的股票在华尔街下跌，较上周五开盘价下跌了0.8%。