US Airlines' Q3 Revenue Hits Record, Fuel Costs Erode Profits

An October 9, 2026 report showed that US jet fuel prices have continued to rise recently; as of Thursday afternoon, the national average jet fuel price was $4.50 per gallon, and the September average reached a record high of $4.37 per gallon, exceeding April's $4.29. The report said jet fuel price volatility has intensified since the outbreak of the Iran war, and recently climbed further as the conflict in the region escalated. Delta Air Lines opened the airlines' third-quarter earnings season on Friday; multiple airlines expect record revenue, but rising fuel costs are offsetting these gains. A follow-up report the same day said Delta Air Lines lowered its 2026 profit forecast, expecting earnings per share between $5.10 and $5.60, below the previous forecast of $6.50 to $7.50; Chief Financial Officer Erik Snell said the adjustment stems from high jet fuel costs, with the average price at $4.50 on Thursday evening, and the company will bear an additional $6 billion in fuel expenses this year. An October 10 report said Delta Air Lines CEO Ed Bastian stated on an analyst call that although fares have risen about 20% cumulatively this year, customers are still continuing to buy tickets, and the company has seen limited resistance; he attributed this to the industry securing higher value for its product, and mentioned that a short-term spike in fuel prices drove this change.