“Utterly Impossible”: Musk’s Delta Joke Drew 91,000 Likes. Then Delta Slashed Its Profit Forecast As Fuel Costs Jumped $6 Billion.
Elon Musk mocked Delta's Wi-Fi to 91,000 cheering fans, but the airline's next earnings report quietly revealed a crisis that had nothing to do with the joke and everything to do with a war few investors saw coming.
At 6:18 p.m. ET on October 8, 2026, Elon Musk posted on X: “Excited to announce that all super intelligence organizations have now jointly agreed to the ultimate in AI/SI safety: Moving all testing to Delta Airlines flights, where accessing the Internet is utterly impossible!” The post drew 91,350 likes. It is a joke aimed at the airline’s Wi-Fi.
The next morning, Delta Air Lines (NYSE:DAL | DAL Price Prediction) cut its outlook. The new full-year adjusted EPS forecast is between $5.10 and $5.60, down from $6.50 to $7.50 in July, according to CNBC. Free cash flow guidance fell to $2.5 billion from $4 billion, CNBC reported. The forecast cut comes from jet fuel costs.
What Delta Committed To in Its October 9 Filing
The guidance is disclosed in an 8-K filed at 06:30 ET. Gulf region jet fuel cost $4.34 a gallon on Thursday, versus $2.19 a year earlier, CNBC reported. Delta’s added fuel cost for the year is $6 billion, linked to the Iran war that began in February, according to CNBC.
Ed Bastian said demand remains strong: “The consumer response continues to be quite strong. We’re seeing it across all channels, all cabins of service, all geographies, business, leisure.” CNBC reported that Delta expects fourth-quarter revenue to grow 20%, up from 16% in the third quarter. Delta’s long-term goals, such as mid-teens margins, are still only goals.
What Shareholders Should Take From the Numbers
CNBC reported net income of $756 million, or $1.15 a share, down 47% from $1.42 billion, or $2.17 per share, a year earlier.
Adjusted EPS was $1.72 against $1.75 expected, marking the first miss in two years, according to CNBC. A correction later raised adjusted EPS to $1.76, according to CNBC. The guidance cut has larger impact for the full year.
Musk Feud Sits in the Background
Delta chose Amazon (NASDAQ:AMZN) for satellite internet over SpaceX. Elon Musk wrote on X that Delta’s chief executive would “lose his job over this.” Bastian told staff at an internal event, “We do not want to be with Elon Musk. Trust me.” United Airlines (NASDAQ:UAL) uses Starlink on more than 600 jets, according to CNBC.
Bastian said “everyone’s entitled to their opinion” and “There’s no tit-for-tat as far as I’m concerned.” Delta held talks with SpaceX six years ago, but SpaceX “weren’t ready to scale.”
The stock was at $79.57 at 9:42 a.m. ET, down 3.13%. It has lost 5.42% over the past week but is up 15.54% year to date.
Higher fares need to cover the fuel bill. Delta’s December-quarter filing should land inside its fourth-quarter EPS range of $1.15 to $1.65. Keep an eye on whether the stock holds above $79.16. Jet fuel prices remain the largest driver factor in Delta’s profit forecast.
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AJ spent 10 years writing about financial markets at The Motley Fool. His coverage centers on technology stocks and the broader macroeconomic trends, from interest rates to geopolitics, that shape where markets are headed next. AJ is drawn to the stories where big-picture economics and individual companies collide.
