Delta Air cuts profit forecast as $6 billion fuel-cost surge outweighs fare gains
Delta Air Lines has cut its annual profit forecast by nearly a quarter, citing a $6 billion surge in fuel costs that outweighed strong travel demand and higher ticket prices. The Atlanta-based carrier now expects adjusted annual earnings of $5.10 to $5.60 a share, down from the $6.50 to $7.50 forecast in July. Delta's third-quarter fuel expense jumped 62% year-on-year to $4.1 billion, driven by increases in both crude oil and refined jet fuel prices.
Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
