00:00Delta Airlines has cut its 2026 profit forecast as fuel costs continue to rise.
00:05The Atlanta-based carrier says higher fuel expenses are outweighing strong travel demand.
00:10Delta now expects annual adjusted earnings of $5.10 to $5.60 per share.
00:16Its previous forecast ranged from $6.50 to $7.50 per share.
00:20The airline's third-quarter fuel expenses jumped 62% year-over-year.
00:25That brought the total to $4.1 billion, more than $500 million above expectations.
00:31Delta also expects its annual fuel bill to increase by around $6 billion.
00:36Across the United States, airline fares rose about 25% year-over-year through August.
00:41That leaves carriers facing pressure to raise ticket prices further.
00:45However, higher fares could discourage travelers from booking flights.
00:49Delta says demand remains strong.
00:51With nearly 60% of fourth-quarter capacity already booked,
00:56the airline also expects its Philadelphia-area refinery to generate $700 million in profit this year.
01:03That benefit could partly offset rising fuel expenses.
01:06But Delta warns fuel costs may remain elevated for some time.
01:10Disclosure.
01:11This video contains stock footage and content created or enhanced using AI-assisted tools.
