Delta Air Cuts Profit Forecast on Fuel Costs
Delta Air Lines lowered its annual profit forecast after a six billion dollar surge in fuel expenses due to the ongoing Iran war. Despite strong travel demand and higher ticket prices, third quarter earnings missed analyst estimates.
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Delta Air Lines cut its annual profit forecast by nearly a quarter on Friday morning, driven by a $6 billion surge in fuel costs stemming from the conflict in Iran. The downgrade marks the carrier's first profit reduction this year as jet fuel prices climb worldwide. The warning highlights mounting pressure on carriers in the United States to determine whether consumers will tolerate further fare increases.
