Delta CEO braces flyers for higher fares amid surge in oil prices tied to Iran war
The CEO of Delta Air Lines, Ed Bastian, braced customers for higher fares following the surge in oil prices sparked by the US-Israel war on Iran, amid strong demand from passengers,Though rising oil prices have cost the company an extra $330m in fuel expenses, and it projected a $2bn increase in fuel costs in the current quarter, Delta forecast that revenue would grow 10% as flyers continue to book flights,It was a “healthy” time to travel, Bastian said on Wednesday,But as several carriers raise baggage fees, blaming volatility in the oil markets, Bastian hinted such moves could be permanent – increasing the cost of air travel,“At this level of fuel [pricing], it’s hard to call anything temporary,” he said.
Oil prices plunged after Iran announced the strait of Hormuz will be reopened as part of a two-week ceasefire agreement it made with the US,Brent crude, the global benchmark, dropped from $110 a barrel to under $95 a barrel, though prices are still about $20 a barrel higher than before the conflict began,Major US airlines have been rocked since the US-Israel conflict with Iran began in late February,American Airlines and United’s stock prices have jumped down 25% and 13% respectively since the start of the year,In late March, the United Airlines CEO, Scott Kirby, said that ticket prices could jump 20% if fuel prices remained high, though airlines are trying to prevent consumer demand from falling.
“Demand is the strongest it’s been,” Kirby said in March, noting that 2026 had been a record-breaking year for travel bookings.Though Delta’s share price rose 17% last year with soaring demand, its stock price has remained flat so far this year – a sign of both consumer resilience and that the conflict may have eaten into the company’s growth.Its shares rose 6% during early trading on Wednesday.Bastian said that Delta will cut some capacity, trimming midweek and overnight flights that have fewer passengers, but use up expensive fuel.United made a similar announcement of capacity cuts last month as it projected higher oil prices for the rest of the year.
But Bastian had previously said Delta had benefited from the impacts of the K-shaped economy, in which huge growth in the stock market has led to more spending from affluent Americans whose wealth is tied to markets, even as lower-income Americans pull back spending due to higher prices,Even before the conflict, he noted that most of the company’s growth came from wealthier customers buying business- and first-class seats,Now, those customers are still spending,“Our consumers, who sit at the top end of the K, are continuing to invest in travel,” Bastian told CNBC,“It’s their priority, and they want to have that experience.
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Grand National 2026: horse-by-horse guide to all the runners
I Am Maximus, the 2024 winner, heads to Aintree on Saturday as favourite to triumph again. Here is a look at the chances of all 34 contendersOne of two previous winners at the top of the weights and he backed up his 2024 success by pressing Nick Rockett all the way to the Elbow 12 months ago before finally crying enough. He had shown precious few hints of his National-winning form in two runs before that exceptional performance under top weight and has more to recommend him this year, having finished second in a Grade One in December and fifth in the Irish Gold Cup. In strict handicapping terms, he should probably find one or two too good, but Aintree aptitude is a serious weapon and another podium place is no forlorn hope.Verdict: each-way hope on Aintree form, but no top-weight winner since 70sThe strict rules on eligibility these days meant that even last year’s winner had to run in a chase this season to qualify for his attempt at a repeat success
The Spin | ‘That day was life-changing’: Miles Jupp on how Ashes climax fuelled incredible blag
Miles Jupp stares out at an empty Oval cricket ground. “This is absolutely one of my favourite places in the world,” says the actor, writer and comedian. We sit for a moment in silence, a couple of groundsmen wrestle with a hose and start watering the square. “This is almost blissful,” says Jupp in a hushed reverie. “You know, that day, 12 September 2005, was life-changing for so many of us
Racing open to more direct protests in campaign against affordability checks
The chief executive of the British Horseracing Authority, Brant Dunshea, has revealed the sport will consider more direct action protests as they continue to battle against government plans to introduce affordability tests for punters. A one-day strike last September that led to four scheduled meetings being cancelled played a pivotal role in the government abandoning the increase in tax on betting from 15% to 21%, which the BHA estimated would have cost £330m to the industry.The BHA have followed their “Axe the Racing Tax” campaign with a coordinated attempt to persuade the government to think again about affordability checks, which, if introduced, would require up to 120,000 regular gamblers to provide personal documentation in order to continue betting, according to research from the Betting and Gaming Council.Independent modelling conducted by the global accountancy firm EY has found that up to 44,000 could switch to black market operators as a result, which would cost tens of millions of pounds in racing’s betting turnover, already down £2bn since 2021.The Gambling Commission board is due to make a decision on whether to introduce the checks next month, with more than 400 racing figures including prominent trainers and MPs writing an open letter this week to the culture secretary, Lisa Nandy, urging her to intervene
‘We are almost incomparable’: England’s Emma Sing on challenging Kildunne and Six Nations hopes
Emma Sing has ambitions to become England’s starting full-back in the Six Nations, but insists there is no rivalry between her and Ellie Kildunne, the Red Roses’ breakout World Cup star.Sing is a Rugby World Cup winner, a multiple Six Nations grand slam champion and has lifted the Premiership Women’s Rugby trophy three times. Touting her achievements is not something the Gloucester-Hartpury back is comfortable with, but the silverware, along with her consistent club performances, are the reason why the 25-year-old is pushing for a starting place.The No 15 jersey is synonymous with Kildunne, the Harlequins player who is the face of the England team and came second in the BBC Sports Personality of the Year after her electric performances at the 2025 World Cup. The players will be angling for the same position in the Women’s Six Nations, which begins on Saturday
From the Pocket: Music works for a showman like Charlie Cameron but fans need space between the notes
The quote “music is the space between the notes” is usually attributed to the French composer Claude Debussy. Or maybe it was Richard Strauss. Hell, maybe it was Richard Champion. Whoever it was, they were talking about savouring silence, about embracing emptiness, about avoiding anything that insists itself upon you.You don’t get a lot of Debussy at football games
Bryson DeChambeau making his own golf clubs in quest for Masters title
Bryson DeChambeau has revealed the latest strand to his career: golf club manufacturing. The two-time major winner used pre-tournament media duties at the Masters to explain he is making his own clubs, in what marks a stark departure from elite golfers working in tandem with equipment companies.“I think it’s the willingness to always try to improve,” DeChambeau said. “There’s this nature that I have about myself where innovation is a habit of mine and I really find and take pride in that ability to learn, even through failure, even through making a bad decision or a good decision.“South Africa [at the recent LIV event] I was trying wedges
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