UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 2, 2015
DELTA AIR LINES, INC.
(Exact name
of registrant as specified in its charter)
| Delaware | |
001-05424 | |
58-0218548 |
(State or other jurisdiction
of incorporation) | |
(Commission
File Number) | |
(IRS Employer
Identification No.) |
P.O. Box 20706, Atlanta, Georgia 30320-6001
(Address of principal executive offices)
Registrant’s telephone number, including
area code: (404) 715-2600
Registrant’s Web site address: www.delta.com
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
[_] Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
Delta Air Lines, Inc. (“Delta”)
issued today an Investor Update which is furnished as Exhibit 99.1 to this Form 8-K.
Delta also issued today a press release
reporting September 2015 financial and operating results. The press release is attached as Exhibit 99.2 to this Form 8-K.
In accordance with general instruction
B.2 of Form 8−K, the information in this report (including the exhibits) that is being furnished pursuant to Item 7.01 of
Form 8−K shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act, as
amended, or otherwise subject to liabilities of that section, nor shall they be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, except as expressly set forth in such filing. This report will not be deemed an admission
as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.
Statements in this Form 8-K and the
attached exhibits that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions,
projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities
Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could
cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected
in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the cost
of aircraft fuel; the availability of aircraft fuel; the impact of rebalancing our hedge portfolio, recording mark-to-market adjustments
or posting collateral in connection with our fuel hedge contracts; the possible effects of accidents involving our aircraft; the
restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues;
interruptions or disruptions in service at one of our hub or gateway airports; disruptions or security breaches of our information
technology infrastructure; our dependence on technology in our operations; the effects of weather, natural disasters and seasonality
on our business; the effects of an extended disruption in services provided by third party regional carriers; failure or inability
of insurance to cover a significant liability at Monroe’s Trainer refinery; the impact of environmental regulation on the
Trainer refinery, including costs related to renewable fuel standard regulations; our ability to retain management and key employees;
competitive conditions in the airline industry; the effects of extensive government regulation on our business; the sensitivity
of the airline industry to prolonged periods of stagnant or weak economic conditions; the effects of terrorist attacks or geopolitical
conflict; and the effects of the rapid spread of contagious illnesses.
Additional information concerning risks
and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities
and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2014. Caution
should be taken not to place undue reliance on our forward-looking statements, which represent our views only as of October 2,
2015, and which we have no current intention to update.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits.
| |
Exhibit 99.1 |
Investor Update |
| |
|
|
| |
Exhibit 99.2 |
Press Release dated October 2, 2015 titled “Delta Reports Financial and Operating Performance for September 2015” |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
| |
DELTA AIR LINES, INC. |
| |
|
| |
By: |
/s/ Paul A. Jacobson |
| |
|
Paul A. Jacobson
Executive Vice President and Chief Financial Officer |
Date: October
2, 2015
EXHIBIT INDEX
| Exhibit Number |
Description |
| |
|
| Exhibit 99.1 |
Investor Update |
| |
|
| Exhibit 99.2 |
Press Release dated October 2, 2015 titled “Delta Reports Financial and Operating Performance for September 2015” |
Exhibit 99.1
Note: Guidance for the September quarter 2015 in this investor
update is adjusted for special items and mark-to-market (MTM) adjustments and settlements unless noted.
Overall Commentary
| · | Delta expects a September quarter operating margin of 20% –
21%, a 5 point improvement over the September 2014 quarter. |
| · | Consolidated passenger unit revenue (PRASM) for the month of September
declined 5.0% year over year, consistent with recent trends of pressure from foreign exchange, lower surcharges in international
markets, and domestic yields. |
| · | For the September quarter, unit revenues declined 4.5% - 5.5% as a
result of the same factors that drove the September month's performance. |
| · | Non-fuel unit costs for the quarter are expected to increase 1% versus
prior year driven by foreign currency and the continued benefits from Delta’s domestic refleeting and cost reduction initiatives.
Results include approximately 1 point of pressure from benefit accruals related to recently announced pay increases for Delta employees. |
| · | Delta’s strong cash generation in the September 2015 quarter
allowed the company to return $530 million to shareholders through dividends and share repurchases. |
Guidance
| |
|
September Quarter 2015 |
| Operating margin |
|
20% – 21% |
| Cargo and other revenue |
|
$1.5 billion |
| Average fuel price per gallon |
|
$1.80 - $1.85 |
| Profit sharing expense |
|
$560 million |
| Non-operating expense |
|
$110-$130 million |
| |
|
|
| |
|
September Quarter 2015
vs.
September Quarter 2014 |
| Passenger unit revenue |
|
Down 4.5%-5.5% |
| CASM-Ex |
|
Up ~1% |
| System capacity |
|
Up ~3.0% |
Fuel
| · | | Delta’s expected fuel
price of $1.80 - $1.85 includes taxes, transportation, settled hedges, hedge premiums and refinery contribution and is adjusted
for MTM adjustments and settlements. |
CASM-Ex
| · | | Delta excludes fuel, profit
sharing and certain other expenses from its unit cost guidance. Other expenses include the costs associated with third-party
Maintenance Repair and Overhaul, Delta Global Services, MLT Vacations, Delta Private Jets, and refinery cost of sales to third
parties. Delta expects to record $295 million of other expenses in the September quarter. The revenue associated with
these expenses is included in Delta's guidance for cargo and other revenue. |
Profit Sharing
| · | | Delta’s broad based
employee profit sharing program currently pays 10% of the company’s adjusted annual profit up to $2.5 billion and 20% above
that amount. Adjusted annual profit is calculated as the company’s annual pre-tax income before profit sharing expense,
special items and certain other items. Profit sharing expense is accrued at a blended rate based on the company’s estimated
profitability for the full year. |
Taxes
| · | | Our September 2015 quarter
results will reflect a 37% tax rate. There will be no material impact to cash as Delta’s net operating loss carryforwards
of approximately $10 billion will largely offset cash taxes during the next few years. |
Share count
| · | | Delta expects approximately
795 million diluted and approximately 788 million basic weighted average shares outstanding. |
Forward Looking Statements
Statements in this investor update that are not historical facts,
including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may
be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking
statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates,
expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to, the cost of aircraft fuel; the availability of aircraft fuel; the impact
of rebalancing our hedge portfolio, recording mark-to-market adjustments or posting collateral in connection with our fuel hedge
contracts; the possible effects of accidents involving our aircraft; the restrictions that financial covenants in our financing
agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of
our hub or gateway airports; disruptions or security breaches of our information technology infrastructure; our dependence on technology
in our operations; the effects of weather, natural disasters and seasonality on our business; the effects of an extended disruption
in services provided by third party regional carriers; failure or inability of insurance to cover a significant liability at Monroe’s
Trainer refinery; the impact of environmental regulation on the Trainer refinery, including costs related to renewable fuel standard
regulations; our ability to retain management and key employees; competitive conditions in the airline industry; the effects of
extensive government regulation on our business; the sensitivity of the airline industry to prolonged periods of stagnant or weak
economic conditions; the effects of terrorist attacks or geopolitical conflict; and the effects of the rapid spread of contagious
illnesses.
Additional information concerning risks and uncertainties that could
cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission
filings, including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2014. Caution should be taken not to
place undue reliance on our forward-looking statements, which represent our views only as of October 2, 2015, and which we have
no current intention to update.
Non-GAAP Financial Measures
Delta sometimes uses information ("non-GAAP
financial measures") that is derived from the Consolidated Financial Statements, but that is not presented in accordance with
accounting principles generally accepted in the U.S. (“GAAP”). Under the U.S. Securities and Exchange Commission rules,
non-GAAP financial measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered
a substitute for or superior to GAAP results. The tables below show reconciliations of non-GAAP financial measures used in this
release to the most directly comparable GAAP financial measures.
Forward Looking Projections. Delta is
unable to reconcile certain forward-looking projections to GAAP as the nature or amount of special items cannot be estimated at
this time.
Operating Margin, adjusted for special items
Delta adjusts for the following items to determine
operating margin, adjusted for special items, for the reasons described below:
| · | | MTM adjustments and settlements.
MTM adjustments and settlements. MTM adjustments are defined as fair value changes recorded in periods other than the settlement
period. Such fair value changes are not necessarily indicative of the actual settlement value of the underlying hedge in the contract
settlement period. Settlements represent cash received or paid on hedge contracts settling during the period. These items adjust
fuel expense to show the economic impact of hedging, including cash received or paid on hedge contracts during the period. Adjusting
for these items allows investors to better understand and analyze the company's core operational performance in the periods shown. |
| · | | Restructuring and other.
Because of the variability in restructuring and other, the adjustment for this item is helpful to investors to analyze the
company’s recurring core operational performance in the periods shown. |
| · | | Refinery Sales. Delta's
refinery segment provides jet fuel to the airline segment from its own production and from jet fuel obtained through agreements
with third parties. Activities of the refinery segment are primarily for the benefit of the airline. However, from time to time,
the refinery sells fuel by-products to third parties. These sales are recorded gross within other revenue and other operating
expense. We believe adjusting for refinery sales allows investors to better understand and analyze the impact of fuel cost on
our results in the periods shown. |
| |
|
|
|
Three Months Ended |
| |
|
|
|
(Projected) |
|
|
| |
|
|
|
September 30, 2015 |
|
September 30, 2014 |
| Operating margin |
|
|
18.7% to 20.1% |
|
7.5% |
| Adjusted for: |
|
|
|
|
|
| MTM adjustments and settlements |
|
1.1% to 0.7% |
|
3.1% |
| Restructuring and other |
|
|
- |
|
5.1% |
| Refinery sales |
|
|
0.2% |
|
0.1% |
| Operating margin, adjusted |
|
|
20% to 21% |
|
15.8% |
Non-Fuel Unit Cost or Cost Per Available
Seat Mile ("CASM-Ex")
We adjust CASM for the following items to determine CASM-Ex for
the reasons described below:
| · | | Aircraft fuel and related
taxes. The volatility in fuel prices impacts the comparability of year-over-year non-fuel financial performance. The adjustment
for aircraft fuel and related taxes (including our regional carriers) allows investors to better understand and analyze our non-fuel
costs and our year-over-year financial performance. |
| · | | Profit sharing. We
adjust for profit sharing because this adjustment allows investors to better understand and analyze our recurring cost performance
and provides a more meaningful comparison of our core operating costs to the airline industry. |
| · | | Restructuring and other.
We adjust for restructuring and other for the same reasons described above under the heading Operating Margin, adjusted for
special items. |
| · | | Other expenses. Other
expenses include aircraft maintenance and staffing services we provide to third parties, our vacation wholesale operations, and
refinery cost of sales to third parties. Because these businesses are not related to the generation of a seat mile, we adjust
for the costs related to these sales to provide a more meaningful comparison of the costs of our airline operations to the rest
of the airline industry. |
| |
|
|
|
(Projected) |
| |
|
|
|
Percentage Change |
| |
|
|
|
Three Months Ended |
| |
|
|
|
September 30, 2015 vs. 2014 |
| CASM (cents) |
|
|
(28)% to (32)% |
| Adjusted for: |
|
|
|
| Aircraft fuel and related taxes |
|
|
24% to 25% |
| Profit sharing |
|
(3)% to (2)% |
| Restructuring and other |
|
9% to 10% |
| Other expenses |
|
(1)% to 0% |
| CASM-Ex |
|
|
~1% |
Average Fuel Price Per Gallon, adjusted
Delta adjusts for MTM adjustments and settlements
to determine average fuel price per gallon, adjusted for the same reason described above under the heading Operating Margin, adjusted
for special items.
| |
|
|
(Projected) |
| |
|
|
Three Months Ended |
| |
|
|
September 30, 2015 |
| Average fuel price per gallon |
$1.95 to $1.90 |
| MTM adjustments and settlements |
(0.15) to (0.05) |
| Average fuel price per gallon, adjusted |
$1.80 to $1.85 |
Exhibit 99.2
| CONTACT: |
Corporate Communications |
| |
404-715-2554 |
| |
news archive at news.delta.com |
| |
|
| |
Investor Relations |
| |
404-715-2170 |
Delta Reports Financial and Operating Performance
for September 2015
ATLANTA, October 2,
2015 – Delta Air Lines (NYSE: DAL) today reported financial and operating performance for September 2015.
Consolidated passenger unit revenue (PRASM) for the month of September
declined 5.0% year over year, consistent with recent trends of pressure from foreign exchange, lower surcharges in international
markets, and domestic yields.
In an Investor Update issued this morning, Delta announced that
it expects its operating margin to be 20% - 21% and its unit revenue to decline 4.5% - 5.5% for the September quarter. Both of
these results are on the favorable end of initial guidance ranges provided by the company in July.
The company’s financial and operating performance is detailed
below.
|
Preliminary Financial and Operating Results
|
| September consolidated PRASM change year over year |
(5.0%) |
| Projected September quarter fuel price per gallon, adjusted |
$1.80 - $1.85 |
| September mainline completion factor |
100.0% |
| September on-time performance (preliminary DOT A14) |
90.5% |
| • | Note:
Projected fuel price of $1.80 - $1.85 includes taxes, transportation, settled hedges,
hedge premiums and refinery contribution and is adjusted for MTM adjustments and settlements. |
Delta Air Lines serves more than 170 million customers each year.
Delta was named to FORTUNE magazine’s top 50 World’s Most Admired Companies in addition to being named the most admired
airline for the fourth time in five years. Additionally, Delta has ranked No.1 in the Business Travel News Annual Airline survey
for four consecutive years, a first for any airline. With an industry-leading global network, Delta and the Delta Connection carriers
offer service to 318 destinations in 58 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees
worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance
and participates in the industry’s leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a joint
venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights,
with key hubs and markets including Amsterdam, Atlanta, Boston, Detroit, Los Angeles, Minneapolis/St. Paul, New York-JFK, New
York-LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita. Delta has invested billions of dollars in airport
facilities, global products and services, and technology to enhance the customer experience in the air and on the ground. Additional
information is available on the Delta News Hub, as well as delta.com, Twitter @DeltaNewsHub, Google.com/+Delta, Facebook.com/delta
and Delta’s blog takingoff.delta.com..
Forward Looking Statements
Statements in this press release that are not historical facts,
including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may
be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking
statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates,
expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These
risks and uncertainties include, but are not limited to, the cost of aircraft fuel; the availability of aircraft fuel; the impact
of rebalancing our hedge portfolio, recording mark-to-market adjustments or posting collateral in connection with our fuel hedge
contracts; the possible effects of accidents involving our aircraft; the restrictions that financial covenants in our financing
agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of
our hub or gateway airports; disruptions or security breaches of our information technology infrastructure; our dependence on technology
in our operations; the effects of weather, natural disasters and seasonality on our business; the effects of an extended disruption
in services provided by third party regional carriers; failure or inability of insurance to cover a significant liability at Monroe’s
Trainer refinery; the impact of environmental regulation on the Trainer refinery, including costs related to renewable fuel standard
regulations; our ability to retain management and key employees; competitive conditions in the airline industry; the effects of
extensive government regulation on our business; the sensitivity of the airline industry to prolonged periods of stagnant or weak
economic conditions; the effects of terrorist attacks or geopolitical conflict; and the effects of the rapid spread of contagious
illnesses.
Additional information concerning risks and uncertainties that could
cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission
filings, including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2014. Caution should be taken not to place
undue reliance on our forward-looking statements, which represent our views only as of October 2, 2015, and which we have no current
intention to update.
Non-GAAP Financial Measures
Delta sometimes uses information ("non-GAAP
financial measures") that is derived from the Consolidated Financial Statements, but that is not presented in accordance with
accounting principles generally accepted in the U.S. (“GAAP”). Under the U.S. Securities and Exchange Commission rules,
non-GAAP financial measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered
a substitute for or superior to GAAP results. The tables below show reconciliations of non-GAAP financial measures used in this
release to the most directly comparable GAAP financial measures.
Operating Margin, adjusted for special items
Delta adjusts for the following items to determine
operating margin, adjusted for special items, for the reasons described below:
| · | MTM adjustments and settlements. MTM
adjustments and settlements. MTM adjustments are defined as fair value changes recorded in periods other than the settlement period.
Such fair value changes are not necessarily indicative of the actual settlement value of the underlying hedge in the contract settlement
period. Settlements represent cash received or paid on hedge contracts settling during the period. These items adjust fuel expense
to show the economic impact of hedging, including cash received or paid on hedge contracts during the period. Adjusting for these
items allows investors to better understand and analyze the company's core operational performance in the periods shown. |
| · | Refinery Sales. Delta's refinery
segment provides jet fuel to the airline segment from its own production and from jet fuel obtained through agreements with third
parties. Activities of the refinery segment are primarily for the benefit of the airline. However, from time to time, the refinery
sells fuel by-products to third parties. These sales are recorded gross within other revenue and other operating expense. We believe
adjusting for refinery sales allows investors to better understand and analyze the impact of fuel cost on our results in the periods
shown. |
| |
|
|
|
(Projected) |
| |
|
|
|
Three Months Ended |
| |
|
|
|
September 30, 2015 |
| Operating margin |
|
|
18.7% to 20.1% |
| Adjusted for: |
|
|
|
| MTM adjustments and settlements |
|
1.1% to 0.7% |
| Refinery sales |
|
|
0.2% |
| Operating margin, adjusted |
|
|
20% to 21% |
Average Fuel Price Per Gallon, Adjusted
Delta adjusts for mark-to-market adjustments
and settlements to determine average price per fuel gallon, adjusted. MTM adjustments are defined as fair value changes recorded
in periods other than the settlement period. Such fair value changes are not necessarily indicative of the actual settlement value
of the underlying hedge in the contract settlement period. Settlements represent cash received or paid on hedge contracts settling
during the period. These items adjust fuel expense to show the economic impact of hedging, including cash received or paid on hedge
contracts during the period. Adjusting for these items allows investors to better understand and analyze the company's core operational
performance in the period shown.
| |
|
|
(Projected) |
| |
|
|
Three Months Ended |
| |
|
|
September 30, 2015 |
| Average fuel price per gallon |
$1.95 to $1.90 |
| MTM adjustments and settlements |
(0.15) to (0.05) |
| Average fuel price per gallon, adjusted |
$1.80 to $1.85 |
| |
Monthly Traffic Results (a) | |
| |
Year to Date Traffic Results (a) | |
| |
| |
Sep 2015 | |
Sep 2014 | |
Change | |
| |
Sep 2015 | |
Sep 2014 | |
Change | |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| RPMs (000): |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Domestic |
| 10,035,472 | |
| 9,601,070 | |
| 4.5% | |
| | |
| 95,101,878 | |
| 90,875,786 | |
| 4.7% | |
| | |
| Delta Mainline |
| 8,385,924 | |
| 7,909,592 | |
| 6.0% | |
| | |
| 79,479,519 | |
| 74,724,454 | |
| 6.4% | |
| | |
| Regional |
| 1,649,548 | |
| 1,691,478 | |
| (2.5% | ) |
| | |
| 15,622,359 | |
| 16,151,332 | |
| (3.3% | ) |
| | |
| International |
| 7,321,450 | |
| 7,351,110 | |
| (0.4% | ) |
| | |
| 64,946,334 | |
| 64,021,155 | |
| 1.4% | |
| | |
| Latin America |
| 1,195,127 | |
| 1,215,692 | |
| (1.7% | ) |
| | |
| 14,704,012 | |
| 13,826,477 | |
| 6.3% | |
| | |
| Delta Mainline |
| 1,159,518 | |
| 1,192,420 | |
| (2.8% | ) |
| | |
| 14,409,358 | |
| 13,553,224 | |
| 6.3% | |
| | |
| Regional |
| 35,609 | |
| 23,272 | |
| 53.0% | |
| | |
| 294,654 | |
| 273,253 | |
| 7.8% | |
| | |
| Atlantic |
| 4,046,855 | |
| 4,040,995 | |
| 0.1% | |
| | |
| 31,679,123 | |
| 31,428,637 | |
| 0.8% | |
| | |
| Pacific |
| 2,079,467 | |
| 2,094,423 | |
| (0.7% | ) |
| | |
| 18,563,199 | |
| 18,766,041 | |
| (1.1% | ) |
| | |
| Total System |
| 17,356,922 | |
| 16,952,180 | |
| 2.4% | |
| | |
| 160,048,212 | |
| 154,896,941 | |
| 3.3% | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| ASMs (000): |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Domestic |
| 11,827,294 | |
| 11,581,895 | |
| 2.1% | |
| | |
| 110,717,052 | |
| 106,059,831 | |
| 4.4% | |
| | |
| Delta Mainline |
| 9,759,428 | |
| 9,390,616 | |
| 3.9% | |
| | |
| 91,310,199 | |
| 85,816,029 | |
| 6.4% | |
| | |
| Regional |
| 2,067,866 | |
| 2,191,279 | |
| (5.6% | ) |
| | |
| 19,406,853 | |
| 20,243,802 | |
| (4.1% | ) |
| | |
| International |
| 8,602,308 | |
| 8,661,089 | |
| (0.7% | ) |
| | |
| 77,846,819 | |
| 75,586,862 | |
| 3.0% | |
| | |
| Latin America |
| 1,471,681 | |
| 1,510,604 | |
| (2.6% | ) |
| | |
| 17,742,888 | |
| 16,509,861 | |
| 7.5% | |
| | |
| Delta Mainline |
| 1,426,257 | |
| 1,477,645 | |
| (3.5% | ) |
| | |
| 17,368,145 | |
| 16,148,605 | |
| 7.6% | |
| | |
| Regional |
| 45,424 | |
| 32,959 | |
| 37.8% | |
| | |
| 374,743 | |
| 361,256 | |
| 3.7% | |
| | |
| Atlantic |
| 4,681,526 | |
| 4,541,229 | |
| 3.1% | |
| | |
| 38,490,318 | |
| 36,803,262 | |
| 4.6% | |
| | |
| Pacific |
| 2,449,102 | |
| 2,609,256 | |
| (6.1% | ) |
| | |
| 21,613,613 | |
| 22,273,739 | |
| (3.0% | ) |
| | |
| Total System |
| 20,429,603 | |
| 20,242,984 | |
| 0.9% | |
| | |
| 188,563,871 | |
| 181,646,693 | |
| 3.8% | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Load Factor: |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Domestic |
| 84.9% | |
| 82.9% | |
| 2.0 | |
| pts | |
| 85.9% | |
| 85.7% | |
| 0.2 | |
| pts | |
| Delta Mainline |
| 85.9% | |
| 84.2% | |
| 1.7 | |
| pts | |
| 87.0% | |
| 87.1% | |
| (0.1 | ) |
| pts | |
| Regional |
| 79.8% | |
| 77.2% | |
| 2.6 | |
| pts | |
| 80.5% | |
| 79.8% | |
| 0.7 | |
| pts | |
| International |
| 85.1% | |
| 84.9% | |
| 0.2 | |
| pts | |
| 83.4% | |
| 84.7% | |
| (1.3 | ) |
| pts | |
| Latin America |
| 81.2% | |
| 80.5% | |
| 0.7 | |
| pts | |
| 82.9% | |
| 83.7% | |
| (0.8 | ) |
| pts | |
| Delta Mainline |
| 81.3% | |
| 80.7% | |
| 0.6 | |
| pts | |
| 83.0% | |
| 83.9% | |
| (0.9 | ) |
| pts | |
| Regional |
| 78.4% | |
| 70.6% | |
| 7.8 | |
| pts | |
| 78.6% | |
| 75.6% | |
| 3.0 | |
| pts | |
| Atlantic |
| 86.4% | |
| 89.0% | |
| (2.6 | ) |
| pts | |
| 82.3% | |
| 85.4% | |
| (3.1 | ) |
| pts | |
| Pacific |
| 84.9% | |
| 80.3% | |
| 4.6 | |
| pts | |
| 85.9% | |
| 84.3% | |
| 1.6 | |
| pts | |
| Total System |
| 85.0% | |
| 83.7% | |
| 1.3 | |
| pts | |
| 84.9% | |
| 85.3% | |
| (0.4 | ) |
| pts | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Mainline Completion Factor |
| 100.0% | |
| 99.8% | |
| 0.2 | |
| pts | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Passengers Boarded |
| 14,549,282 | |
| 13,931,141 | |
| 4.4% | |
| | |
| 135,158,780 | |
| 129,554,616 | |
| 4.3% | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Cargo Ton Miles (000): |
| 182,219 | |
| 207,969 | |
| (12.4% | ) |
| | |
| 1,655,023 | |
| 1,759,128 | |
| (5.9% | ) |
| | |
a
Results include flights operated under contract carrier arrangements
Delta Air Lines (NYSE:DAL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Delta Air Lines (NYSE:DAL)
Historical Stock Chart
From Apr 2023 to Apr 2024
