DELTA AIR LINES, INC. recently released its Form 10-Q for the June 2026 quarter. The company provides scheduled passenger and cargo air transportation in the United States and abroad, along with aircraft maintenance and engineering services, repair and overhaul work, and vacation packages. Its operations are organized into Airline and Refinery segments, and its network is built around hubs in Atlanta, Detroit, Minneapolis-St. Paul, Salt Lake City, and several coastal and international markets.
In the June 2026 quarter, Delta reported operating income of $1.9 billion, down $238 million from the June 2025 quarter. Total operating revenue rose $3.1 billion to $19.8 billion, while operating expense climbed $3.3 billion to $17.9 billion.
Passenger revenue increased $1.7 billion, or 13%, to $15.6 billion, led by a 17% increase in premium ticket revenue to $6.9 billion and an 8% rise in main cabin ticket revenue to $6.9 billion. Loyalty travel awards contributed $1.2 billion, up 14%, and travel-related services added $589 million, up 11%.
Other revenue rose 50% to $3.9 billion. Refinery revenue increased $950 million to $2.1 billion, loyalty and related revenue rose $217 million to $1.3 billion, and MRO revenue increased $76 million to $315 million. Cargo revenue climbed 39% to $294 million.
On the cost side, aircraft fuel and related taxes jumped $1.7 billion to $4.1 billion, reflecting an 80% increase in average jet fuel purchase price and higher consumption. Salaries and related costs rose $360 million to $4.8 billion, refinery expense increased $950 million to $2.1 billion, and landing fees and other rents increased $100 million to $978 million. Profit sharing fell $142 million to $328 million.
Delta’s total operating cost per available seat mile increased 21%, and non-fuel unit cost rose 6.8%. Adjusted total revenue increased 14% to $17.1 billion, and adjusted operating expense increased 20% to $15.2 billion.
Non-operating income fell to $145 million from $472 million a year earlier, mainly because mark-to-market gains on equity investments were lower. Interest expense, net improved to a $144 million expense from $172 million, helped by debt reduction. Gain on investments, net dropped to $349 million from $735 million.
For the first six months of 2026, Delta reported operating revenue of $35.6 billion, up $4.9 billion, and operating expense of $33.2 billion, up $5.2 billion. Operating income for the period was $2.4 billion. Passenger revenue reached $27.9 billion, refinery revenue was $3.7 billion, and MRO revenue was $695 million.
Delta generated $1.6 billion of cash from operating activities in the quarter, spent $1.5 billion on investing activities, and reported free cash flow of $209 million. It also used $536 million for debt and finance lease repayments. Liquidity at June 30, 2026 was $7.7 billion. Following these announcements, the company's shares moved -1.81%, and are now trading at a price of $87.39. For the full picture, make sure to review DELTA AIR LINES, INC.'s 10-Q report.
