Delta Air Lines Inc.'s (DAL) stock briefly fell below $1 Friday amid the havoc of Hurricane Katrina (search) and the bleak financial picture for the nation's third biggest carrier.

Shares of Atlanta-based Delta fell 6 cents to 98 cents before rebounding slightly on the New York Stock Exchange (search). In midmorning trading, its shares were at $1.01, down 3 cents from Thursday's close.

Prior to the drop, Delta's stock was already trading at its lowest point in more than four decades.

Before Katrina, Delta had said it was trying hard to avoid bankruptcy, but may not be able to. Following the devastating hurricane, some analysts have speculated that rising fuel prices and service disruptions may force Delta over the edge.

Delta has not commented on its financial situation since the storm hit.