How did fuel costs squeeze Delta's Q2 margins?

Delta Air Lines posted $19.8 billion in Q2 gross revenue, up 19% year-over-year. Net income fell roughly a quarter to $1.6 billion from $2.1 billion. Fuel expenses drove the divergence: the carrier paid $3.66 per gallon, a 66% jump from $2.21 a year earlier. Industry prices remain 32% higher year-over-year.

What does Delta's unit-cost gap signal?

Unit revenue climbed 17% while unit costs rose 21%. Premium cabin sales of $6.92 billion narrowly exceeded main cabin revenue at $6.85 billion, a structural milestone. Delta forecast an 11–13% Q3 operating margin with EPS of $2.00–$2.50, and full-year EPS of $6.50–$7.50 on $3–4 billion in projected free cash flow.

What does Delta's Basic Premium fare include?

Three months after United launched unbundled business fares, Delta rolled out its version, dubbed "Delta None" by industry analysts. Basic First Class is on sale now on select domestic, Canada, Caribbean, and Latin America routes. Basic Business follows this fall.

Passengers keep the seat, meal, and first checked bag. They lose lounge access, full mileage earning, advance seat assignments, and additional checked bags. Basic Business travelers retain Delta One and Sky Club access through January 18 as a transition window. United still permits United Club entry on Basic Business.

Why is Air Canada replacing its CEO?

Air Canada named SAS executive Anko van der Werff as its next president and CEO. He succeeds Michael Rousseau, whose retirement becomes effective August 31 after 19 years at the carrier. Rousseau faced public pressure to step down following criticism of his French-language skills after a New York aircraft collision earlier this year.

Van der Werff brings 25 years of industry experience across Avianca, Aeromexico, KLM, Qatar Airways, and SAS, where he led the carrier through bankruptcy and its SkyTeam entry. He speaks French, addressing the language concern that defined Rousseau's final year.

How did Apollo disrupt the easyJet takeover?

Castlelake's £6.90-per-share bid for Europe's second-largest ULCC won easyJet board approval earlier this month, marking the investment firm's fifth takeover attempt. Castlelake, which took a one-third stake in SAS alongside Air France-KLM in 2023, cannot hold a majority stake alone as a non-EU entity.

On July 10, Apollo Global Management countered with £7.15 per share, about 3.5% above Castlelake, and offered existing easyJet shareholders a rollover option into the acquisition vehicle. The easyJet board reportedly shifted its recommendation. Apollo has until August 8 to file a binding bid.

Where is JetBlue adding Fort Lauderdale capacity?

JetBlue launched the first wave of its largest-ever FLL schedule this week, adding Baltimore and Charlotte at three daily flights each from July 9. Cleveland, Nashville, Detroit, Houston Intercontinental, Chicago O'Hare, and Ponce also began service in the same window.

By November, JetBlue adds Barranquilla (October 1), Cali (October 15), Columbus (November 2), Indianapolis (November 2), and Caracas (date TBA). A Mint-equipped Fort Lauderdale-San Diego service begins November 19. The expansion follows Spirit Airlines' collapse and reinforces FLL as JetBlue's Southeast anchor.

What fleet and route moves surfaced elsewhere?

Frontier agreed to sell 11 A321neos on order to Irish lessor Avolon. Etihad is nearing a deal for 10 Boeing 787s. Riyadh Air added Mumbai service, and Mandarin Airlines wet-leased a high-density A321neo. Air Premia became Southwest's newest interline partner; Azul debuted on the NYSE; and Wizz Air plans a major Spain expansion this winter.

Saudia ordered four freighters, Philippine Airlines raised $300 million through its first international bond offering, and TAROM prepares to take delivery of its first A320 later this summer.