Delta Posts Improved Profit, Braces for $2 Billion Fuel Cost Surge

The carrier anticipates a spike in second-quarter fuel costs and plans to cut capacity growth to protect margins.

Delta Air Lines planes at John F. Kennedy International Airport in New York City. Andrew Kelly/Reuters

Delta Air Lines reported a sharply improved first-quarter profit on April 8, but struck a cautious tone for the current quarter, as higher jet fuel costs weigh heavily on its margins.

For the first quarter of 2026, Delta reported a net loss of $289 million on revenue of $15.9 billion. Excluding gains and losses on equity investments, debt extinguishment costs, and gains on investment sales, the Atlanta-based airline posted an adjusted net profit of $423 million, about 45 percent higher than a year earlier.