UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ Commission File Number 001-5424 DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) Delaware 58-0218548 (State or other jurisdiction of incorporation or organization) (I.R.S ...

Delta Air Lines, Inc. (NYSE:DAL) Q3 2023 Earnings Conference Call October 12, 2023 10:00 AM ET Company Participants Julie Stewart - Vice President, Investor Relations Ed Bastian - Chief Executive Officer Glen Hauenstein - President Dan Janki - Chief Financial Officer Peter Carter - Executive Vice President, External Affairs Tim Mapes - Senior Vice President and Chief Communications Officer Conference Call Participants Jamie Baker - JPMorgan Savi Syth - Raymond James Conor Cunningham - Melius Research Duane ...

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Delta Air Lines, Inc. (NYSE:DAL) Q2 2023 Earnings Conference Call July 13, 2023 10:00 AM ET Company Participants Julie Stewart - VP, IR Ed Bastian - CEO Glen Hauenstein - President Dan Janki - CFO Tim Mapes - Senior Vice President and Chief Communications Officer Peter Carter - EVP, External Affairs Conference Call Participants Helane Becker - TD Cowen Ravi Shanker - Morgan Stanley Catherine O'Brien - Goldman Sachs Michael Linenberg - Deutsche Bank Sheila Kahyaoglu - Jefferies Scott Group - Wolfe Researc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Atlanta, Georgia 30320-6001 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-5424 DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) Delaware 58-0218548 (State or other jurisdiction of incorporation or ...

Delta Air Lines, Inc. (NYSE:DAL) Q1 2023 Results Conference Call April 13, 2023 10:00 AM ET Company Participants Julie Stewart - VP, IR Ed Bastian - CEO Glen Hauenstein - President Dan Janki - CFO Peter Carter - External Affairs Trebor Banstetter - Corporate Communications Conference Call Participants Mike Linenberg - Deutsche Bank Jamie Baker - JP Morgan David Vernon - Bernstein Savi Syth - Raymond James Duane Pfennigwerth - Evercore ISI Conor Cunningham - Melius Research Catherine O’Brien - Goldman Sachs ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ Commission File Number 001-5424 DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) Delaware 58-0218548 (State or other jurisdiction of incorporation or organization) (I.R.S. Em ...

Delta Air Lines, Inc. Conference Call Summary Company Overview - **Company**: Delta Air Lines, Inc. (NYSE:DAL) - **Event**: J.P. Morgan 2023 Industrials Conference - **Date**: March 14, 2023 Key Points Industry Performance - Delta Airlines generated approximately **50% of the industry's profit** and has the largest profit-sharing payout in the industry, totaling **$550 million** in the past year, exceeding all other airlines combined [11] - The airline industry is experiencing a **strong recovery** post-pandemic, with Delta reporting the **10 highest sales days** in its history within the last 30 days [17] Financial Performance and Projections - Delta is on track with its **three-year plan** initiated in December 2021, with 2022 performance exceeding expectations and 2023 forecasts aligning positively [9][31] - Projected **2023 revenue growth** is between **15% to 20%**, with an operating margin of **10% to 12%** and EPS of **$5 to $6** per share, nearly doubling from 2022 [31] - Expected **free cash flow** for 2023 is over **$2 billion**, while investing close to **$6 billion** back into the business [18] Operational Strengths - Delta emphasizes its **people** as the key differentiator in delivering top-tier performance, with a focus on service quality and operational excellence [10] - The company has maintained a **premium pay structure** for employees, with a **5% pay increase** for all employees starting April 1, 2023 [12] Customer Experience and Innovation - Delta has invested significantly in **digital technology**, enhancing customer engagement through its app, which now offers **free Wi-Fi** across its fleet [15][23] - The **SkyMiles program** is seeing double-digit year-on-year growth, with a target contribution of **$6.5 billion** from American Express [16] Market Demand and Economic Outlook - There is an estimated **$300 billion** gap in unmet demand for air travel due to the pandemic, with expectations of overcorrection in spending relative to GDP [19] - Delta's business is positioned within the **experience economy**, with strong demand for travel experiences driving growth [21] International Operations - Delta's international partnerships are recovering, with strong performance expected in the **Pacific** and **South America**, particularly with LATAM Airlines [47][48] - The company anticipates achieving its **highest margins ever** in international operations this summer [52] Challenges and Constraints - The airline faces challenges such as **pilot shortages** and supply chain issues affecting aircraft production, particularly with Boeing and Airbus [62][65] - Delta is managing capacity constraints due to weather disruptions and is focused on maintaining operational efficiency [39] Conclusion - Delta Airlines is optimistic about its future, supported by a strong management team and a focus on delivering exceptional customer experiences. The company is well-positioned to lead the industry as it continues to recover from the pandemic [33][34]

Delta Air Lines J.P. Morgan Industrials Conference Safe Harbor Statements made in this presentation that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments or strategies for the future, should be considered “forward-looking statements” under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements are no ...

Financial Performance - In 2022, Delta Air Lines achieved strong profitability and positive free cash flow, restoring its financial foundation[30]. - Total operating revenue for 2022 was $50,582 million, a 69.2% increase from $29,899 million in 2021[385]. - Passenger revenue reached $40,218 million, up 78.6% from $22,519 million in 2021[385]. - Net income for 2022 was $1,318 million, compared to a net income of $280 million in 2021[388]. - Operating income for 2022 was $3,661 million, significantly higher than the operating income of $1,886 million in 2021[385]. - The company reported a comprehensive income of $2,647 million for 2022, compared to $2,188 million in 2021[388]. - Basic earnings per share for 2022 were $2.07, compared to $0.44 in 2021[385]. - Total current liabilities increased to $25,940 million in 2022, up from $20,966 million in 2021, reflecting a 23.5% rise[385]. - Cash and cash equivalents decreased to $3,266 million in 2022 from $7,933 million in 2021, a decline of 58.8%[385]. - Total assets remained relatively stable at $72,288 million in 2022, compared to $72,459 million in 2021[385]. - Total noncurrent liabilities decreased to $39,766 million in 2022 from $47,606 million in 2021, a reduction of 16.5%[385]. - The company recorded depreciation and amortization expenses of $2.1 billion for the year ended December 31, 2022, compared to $2.0 billion in 2021[411]. Revenue Sources - Total passenger revenue for 2022 reached $40,218 million, a significant increase from $22,519 million in 2021, representing an 78.5% growth[428]. - Passenger ticket sales contributed $35,626 million to total passenger revenue in 2022, up from $19,339 million in 2021[428]. - Loyalty travel awards revenue increased to $2,898 million in 2022, compared to $1,786 million in 2021, marking a 62.4% rise[428]. - Total cash sales from marketing agreements related to the loyalty program amounted to $5.7 billion in 2022, up from $4.1 billion in 2021, reflecting a 39% increase[442]. - Other revenue for 2022 totaled $9,314 million, a 46.5% increase from $6,348 million in 2021[451]. - Refinery revenue reached $4,977 million in 2022, compared to $3,229 million in 2021, representing a 54.2% increase[451]. Debt and Liabilities - As of December 31, 2022, Delta had $17.9 billion in fixed-rate debt and $3.6 billion in variable-rate debt, with a potential $725 million decrease in fair value from a 100 basis point increase in interest rates[362]. - The company completed a cash tender offer in 2022, repurchasing $1.5 billion of outstanding debt securities, resulting in a $100 million loss on extinguishment of debt[489]. - As of December 31, 2022, total debt was $21,381 million, down from $25,084 million in 2021, with a fair value of $20,700 million[492]. - Delta Air Lines had approximately $2.9 billion undrawn and available under revolving credit facilities as of December 31, 2022[490]. - Total lease liabilities amount to $9,229 million, with current operating lease liabilities at $714 million and noncurrent operating lease liabilities at $6,866 million[506]. Investments and Assets - Delta's flight equipment value was reported at $38,091 million in 2022, up from $33,368 million in 2021, indicating growth in operational capacity[411]. - The total carrying value of indefinite-lived intangible assets was $15,671 million, including international routes and slots valued at $2,583 million and airline alliances at $1,863 million[480]. - The company has operating lease assets of $7,036 million and finance lease assets of $1,487 million as of December 31, 2022, totaling $8,523 million[506]. - The company has made significant investments in technology, with capitalized software costs amortized totaling $307 million in 2022, consistent with prior years[412]. Loyalty Program - The company reported a deferred revenue balance of $7.9 billion for its loyalty program, recognizing $2.9 billion in revenue from loyalty travel awards in 2022[377]. - Delta's loyalty program was recognized as the top loyalty program in the Americas, highlighting its competitive advantage in customer retention[30]. - The loyalty program deferred revenue balance at the end of 2022 was $7,882 million, up from $7,559 million at the end of 2021[449]. Sustainability and Environmental Initiatives - Delta Air Lines purchased and retired $116 million of carbon offsets in 2022, up from $95 million in 2021, indicating a commitment to sustainability[407]. Pension and Employee Benefits - The company recorded defined contribution pension plan costs of approximately $1.0 billion, $875 million, and $805 million for the years ended December 31, 2022, 2021, and 2020, respectively[527]. - The benefit obligation for pension plans decreased from $22.6 billion in 2021 to $15.8 billion in 2022, reflecting a net actuarial gain of $4.6 billion due to increased discount rates[531]. - The company expects to make benefit payments of $1.28 billion for pension benefits and $450 million for other postretirement benefits in 2023[539]. Market and Economic Conditions - Delta's fuel price risk indicates that a one cent increase in jet fuel costs would result in approximately $40 million of additional annual fuel expense[360]. - Delta executed its international revenue and expense transactions in the same foreign currency to manage foreign currency exchange rate risk[364]. - The air traffic liability typically increases during winter and spring months, with demand improving in 2022 as consumers regained confidence to travel[431].