Delta(US:DAL)2026-02-10 22:48Financial Performance - Operating income for 2025 was $5.8 billion, a decrease of $173 million compared to 2024[207]. - Operating revenue increased by $1.7 billion, or 3%, in 2025, driven by a 3% increase in capacity and strong demand for premium products[208]. - Total operating expense rose by $1.9 billion, or 3%, primarily due to higher employee costs and increased capacity-related expenses[209]. - Total non-operating income was $363 million in 2025, a significant improvement from a non-operating expense of $1.3 billion in 2024[211]. - The company recorded a net gain of $1.2 billion related to equity investments in 2025, compared to a net loss of $319 million in 2024[333]. Cash Flow and Liquidity - Operating activities generated $8.3 billion in cash flow, with $8.2 billion from the SkyMiles program, marking an 11% increase compared to 2024[212]. - Cash, cash equivalents, and available liquidity totaled $7.4 billion as of December 31, 2025[213]. Revenue Breakdown - Total other revenue reached $10.7 billion, an increase of $769 million, or 8%, driven by growth in refinery sales and ancillary businesses[222]. - Domestic passenger revenue increased by 1% on a 3% increase in capacity, with strong demand for premium products[218]. - International passenger revenue rose by 2% on a 4% increase in capacity, with notable growth in the Atlantic and Pacific regions[219].