Delta Air Lines Inc reported a $4.4bn jump in jet‑fuel expenses for Q2, a 77% rise fromaq 2025 and the highest in company history. The spike stems from the Iran war, which tightened the Strait of Hormuz and pushed fuel prices to $3.93 per gallon last quarter. Delta plans to trim passenger capacity by 3.5% and expects fuel costs to ease to $3.15 per gallon this quarter.

Revenue climbed 14% to $19.8bn, yet net income fell 25% from last year to $1.6bn. Premium ticket sales grew 19% while main‑cabin revenue rose 2% domestically and 8% internationally. Delta keeps a 20% earnings‑growth outlook for the year and will maintain relatively flat capacity until the fourth quarter.

The airline shipping surplus fuel‑cost coverage of 60% underscores its pricing power, but the sustained price shock threatens margins across the U.S. transportation sector. Investors will monitor how Delta’s surcharge strategy and capacity adjustments influence its ability to preserve profitability in a volatile fuel market.

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