October 9, 2026 — Delta Air Lines cut its 2026 profit forecast by nearly a quarter on Friday because of fuel, even as third-quarter revenue hit a record $17.6 billion. Two Gulf Coast airports on its Hurricane Isaias waiver list are now closed.
What happened
Earnings. Delta was the first big US airline to report third-quarter results. Revenue rose 16% on almost unchanged capacity, but fuel cost 62% more than a year ago. The airline now expects its 2026 fuel bill to be about $6 billion higher than last year’s.
| Measure | Third quarter 2026 |
|---|---|
| Adjusted revenue | $17.6 billion, up 16% (a record) |
| Adjusted earnings per share | $1.72 (analysts expected $1.76) |
| Reported net income | $756 million, down 47% |
| Adjusted operating margin | 9.4%, down from 11.1% |
| Fuel expense | $4.1 billion, up 62% |
| Premium cabin revenue | Up 18%, on 6% more premium seats |
| Full-year earnings per share forecast | $5.10–$5.60 (was $6.50–$7.50 in July) |
Fourth quarter. Delta expects revenue to rise about 20% from a year earlier and says almost 60% of the quarter is already booked. It plans slightly more seats overall but fewer in economy, AeroTime reports. Fuel is forecast at about $4.25 a gallon, up from $3.61 in the third quarter.
Profit sharing. Delta has set aside more than $900 million for employee profit sharing for the first nine months of 2026. The payout is scheduled for February 2027.
Chief financial officer Erik Snell told reporters the forecast cut was driven entirely by fuel. Shares fell about 3% before the market opened, Reuters reported.
Hurricane Isaias. Update: Destin–Fort Walton Beach Airport suspended operations on Thursday night until further notice. Pensacola International closed to commercial flights at 10 a.m. Friday, and officials expect to reopen on Saturday or Sunday once damage is assessed. Landfall is forecast for late Friday night or early Saturday on the northern Gulf Coast.
| Delta’s Isaias waiver | Detail |
|---|---|
| Airports | Birmingham, Columbus (MS), Destin–Fort Walton Beach, Dothan, Gulfport/Biloxi, Mobile, Montgomery, Panama City, Pensacola |
| Travel dates covered | October 9–10, 2026 |
| Tickets covered | Issued on or before October 7 |
| Rebook and travel by | October 13, same cabin, to avoid a fare difference |
| Airport reopening | Pensacola: Saturday or Sunday, exact time TBA. Destin–Fort Walton Beach: TBA |
FlightAware already shows 35 Saturday flights cancelled at Pensacola, about a third of the airport’s schedule, according to TravelPulse.
What it means for non-revs
- Main cabin standby gets tighter this fall. Delta expects about 20% more revenue from only slightly more seats, and it is trimming economy seats in the fourth quarter. Expect fuller coach cabins and plan extra backup flights.
- Premium seats are growing, but so is paid demand for them. Premium revenue rose faster than premium seats. Do not count on more open seats up front.
- Profit sharing is still coming. More than $900 million is accrued through September for the February 2027 payout, despite the forecast cut.
- Skip the Florida Panhandle and Alabama coast this weekend. Pensacola and Destin–Fort Walton Beach are closed. When they reopen, rebooked revenue passengers have until October 13 to travel and will be ahead of you.
- Delta flights to the Gulf Coast will be full through October 13. If you can wait, list for travel after that date.
Sources
- Reuters via WTAQ, Delta Air Lines cuts profit forecast as fuel costs outpace fare gains
- AeroTime, Delta cuts 2026 profit forecast as fuel costs surge
- Skift, Delta Air Lines Expects to Absorb $6 Billion Increase in Fuel Costs, Lowers 2026 Profit Outlook
- Delta Air Lines, Hurricane Isaias
- TravelPulse, Hurricane Isaias Prompts Airline Waivers, Cruise Changes Along Gulf Coast
- Travel Market Report, Hurricane Isaias Takes Aim at Gulf Coast: Airline Waivers, Airport Closures, and Cruise Updates
- WEAR-TV, Pensacola International Airport terminal to close Friday morning ahead of Isaias
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