Delta Gives First Taste of Airlines' Profit Sting from Jet Fuel Surge

Dow Jones
07/10

0832 ET - Delta Air Lines, the inaugural reporter for the airline earnings season, is giving a first glimpse of how this spring's surge in jet fuel costs weighed on carriers' bottom lines. Delta says fuel costs in 2Q were up 67% year-over-year at $4.1 billion, marking its highest quarterly fuel expense in company history and pushing total operating costs up 23% to $17.89 billion. Higher flight prices gave a big lift to revenue, but only managed to cover 60% of the increase in fuel costs, according to CEO Ed Bastian. Delta's 2Q profit slid 25% to $1.6 billion, or $2.44 a share. Things could be worse for the rest of the industry because, unlike any of its competitors, Delta owns a jet fuel refinery that helped mitigate the impact of high fuel costs. (dean.seal@wsj.com)

(END) Dow Jones Newswires

July 10, 2026 08:32 ET (12:32 GMT)

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