DAL · 10-Q · 2026Q2 · Full report
Unit Cost Trends (CASM)
DELTA AIR LINES, INC. · 2026-07-10 · Importance 53 · Surprise 48 · No source text
Total operating CASM increased 21% year-over-year in the June 2026 quarter, reflecting elevated fuel costs and other operating expense increases. Non-fuel unit cost (CASM-Ex) rose 6.8%, indicating underlying cost pressure beyond fuel but at a lower rate. The sharp CASM increase largely reflects pass-through and input cost inflation rather than capacity-driven unit increases. These unit cost trends pressured operating income despite revenue gains and informed pricing and capacity decisions.
Key facts
- CASM for the six months ended June 30, 2026: 22.48 cents versus 19.18 cents in prior period. source
- CASM-Ex for the six months ended June 30, 2026: 14.58 cents versus 13.68 cents in prior period. source
- Total operating cost per available seat mile (CASM) increased 21% compared to the June 2025 quarter. source
- Non-fuel unit cost (CASM-Ex) increased 6.8% compared to the June 2025 quarter. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| margin | negative | realized | — | CASM for the six months ended June 30, 2026: 22.48 cents versus 19.18 cents in prior period. |
| margin | negative | realized | — | CASM-Ex for the six months ended June 30, 2026: 14.58 cents versus 13.68 cents in prior period. |