DAL on NYSE

Delta Air Lines

Logo: Delta Air Lines, Public domain, via Wikimedia Commons5

Airline of the United States

Delta Air Lines, Inc. is a major airline in the United States headquartered in Atlanta, Georgia, operating nine hubs, with Hartsfield–Jackson Atlanta International Airport being its largest in terms of total passengers and number of departures.3 From Wikipedia, CC BY-SA 4.0

$78.00 up 1.35 (1.76%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

Mar 2, 1925Founded1

Compare with United Airlines, American Airlines Group or Southwest Airlines, or pick any stock.

  • TickerDAL on NYSE1
  • Industryair transport, aviation1
  • HeadquartersAtlanta1
  • Founded inMacon1
  • Websitede.delta.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business addressHartsfield-Jackson Atlanta Intl Airport, 1030 Delta Boulevard, Atlanta, Ga 30354-19896
  • Filer categoryLarge accelerated filer6
N508DN, a350 (39758160940)
Photo: Jeroen Stroes Aviation Photography from Netherlands, CC BY 2.0, via Wikimedia Commons8

Delta Air Lines, Inc. is a major airline in the United States headquartered in Atlanta, Georgia, operating nine hubs, with Hartsfield–Jackson Atlanta International Airport being its largest in terms of total passengers and number of departures. With its regional subsidiaries and contractors operating under the brand name Delta Connection, Delta has over 5,400 flights daily and serves 325 destinations in 52 countries on six continents.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.2%Operating margin9
7.9%Net margin9
2.8%Revenue growth, 20259
24.0%Return on equity9
0.57×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Passenger, Air Traffic brought in 71% of the revenue Delta Air Lines broke down this way in fiscal 2025.

  1. Passenger, Air Traffic$45.5B971%up 1% from 2024
  2. Product And Service, Other, Refinery$5.1B98%up 9% from 2024
  3. Passenger, Loyalty Travel Awards$4.2B97%up 10% from 2024
  4. Product And Service, Other, Loyalty Program$3.4B95%up 2% from 2024
  5. Passenger, Travel Related Services$2.0B93%up 4% from 2024
  6. Product And Service, Other, Miscellaneous$1.3B92%up 9% from 2024
  7. Product And Service, Other, Ancillary Businesses$937.0M91%up 21% from 2024
  8. Cargo and Freight$900.0M91%up 9% from 2024
  9. Product And Service, Other, MRO Business$822.0M91%up 25% from 2024
Products and services by year
Products and services202320242025
Passenger, Air Traffic$43.6B$45.1B$45.5B
Product And Service, Other, Refinery$3.4B$4.6B$5.1B
Passenger, Loyalty Travel Awards$3.5B$3.8B$4.2B
Product And Service, Other, Loyalty Program$3.1B$3.3B$3.4B
Passenger, Travel Related Services$1.9B$2.0B$2.0B
Product And Service, Other, Miscellaneous$1.1B$1.2B$1.3B
Product And Service, Other, Ancillary Businesses$840.0M$772.0M$937.0M
Cargo and Freight$723.0M$822.0M$900.0M
Product And Service, Other, MRO Business$658.0M$822.0M

Business segments

Airline brought in 89% of the revenue Delta Air Lines broke down this way in fiscal 2025.

  1. Airline$58.3B989%up 2% from 2024
  2. Refinery$7.0B911%down 10% from 2024
Business segments by year
Business segments202320242025
Airline$54.7B$57.0B$58.3B
Refinery$7.6B$7.8B$7.0B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs90¢$57.2B
  • Income tax2¢$1.2B
  • Profit8¢$5.0B

Out of $63.4B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid5¢$440.0M
  • Kept or used elsewhere95¢$7.9B

Out of $8.3B of cash from operations.9

Financial statements

Revenue101112139$63.4B in 2025+35% since 2019
0$20.0B$40.0B$60.0B$80.0B2019: $47.0B$47.0B20192020: $17.1B$17.1B2020−64%2021: $29.9B$29.9B2021+75%2022: $50.6B$50.6B2022+69%2023: $58.0B$58.0B2023+15%2024: $61.6B$61.6B2024+6%2025: $63.4B$63.4B2025+3%
Operating income101112139$5.8B in 2025−12% since 2019
-$15.0B-$10.0B-$5.0B0$5.0B$10.0B2019: $6.6B$6.6B20192020: -$12.5B-$12.5B20202021: $1.9B$1.9B20212022: $3.7B$3.7B2022+94%2023: $5.5B$5.5B2023+51%2024: $6.0B$6.0B2024+9%2025: $5.8B$5.8B2025−3%
Net income101112139$5.0B in 2025+5% since 2019
-$15.0B-$10.0B-$5.0B0$5.0B$10.0B2019: $4.8B$4.8B20192020: -$12.4B-$12.4B20202021: $280.0M$280.0M20212022: $1.3B$1.3B2022+371%2023: $4.6B$4.6B2023+250%2024: $3.5B$3.5B2024−25%2025: $5.0B$5.0B2025+45%

Every line of the income statement in the latest annual report, as filed.9

Period ending2025-12-312024-12-312023-12-31
Total operating revenue$63.4B$61.6B$58.0B
Salaries and related costs$17.5B$16.2B$14.6B
Aircraft fuel and related taxes$9.8B$10.6B$11.1B
Ancillary businesses and refinery$6.0B$5.4B$4.2B
Contracted services$4.6B$4.2B$4.0B
Landing fees and other rents$3.6B$3.1B$2.6B
Regional carrier expense$2.6B$2.3B$2.2B
Passenger commissions and other selling expenses$2.5B$2.5B$2.3B
Depreciation and amortization$2.4B$2.5B$2.3B
Aircraft maintenance materials and outside repairs$2.4B$2.6B$2.4B
Passenger service$1.9B$1.8B$1.8B
Profit sharing$1.3B$1.4B$1.4B
Aircraft rent$542.0M$548.0M$532.0M
Pilot agreement and related expenses$0$0$864.0M
Other$2.4B$2.5B$2.2B
Total operating expense$57.5B$55.6B$52.5B
Operating Income$5.8B$6.0B$5.5B
Interest expense, net-$679.0M-$747.0M-$834.0M
Gain/(loss) on investments, net$1.2B-$319.0M$1.3B
Loss on extinguishment of debt-$26.0M-$39.0M-$63.0M
Miscellaneous, net-$144.0M-$232.0M-$279.0M
Total non-operating income/(expense), net$363.0M-$1.3B$87.0M
Income Before Income Taxes$6.2B$4.7B$5.6B
Income Tax Provision-$1.2B-$1.2B-$999.0M
Net Income$5.0B$3.5B$4.6B
Basic Earnings Per Share (USD per share)$7.72$5.39$7.21
Diluted Earnings Per Share (USD per share)$7.66$5.33$7.17

Compare Delta Air Lines with another company

The story

Early history

The history of the predecessor companies of Delta Air Lines begins with the world's first aerial crop dusting operation called Huff Daland Dusters, Inc. The company was founded on March 2, 1925, in Macon, Georgia, before moving to Monroe, Louisiana, in the summer of 1925. It flew a Huff-Daland Duster, the first true crop duster, designed to combat the boll weevil infestation of cotton crops. The first flight operated by Huff Daland Dusters departed from the airfield at Camp Wheeler, now Macon Downtown Airport, on March 23, 1925 to dust a peach orchard in Montezuma, Georgia. C.E. Woolman, general manager and later Delta's first CEO, led a group of local investors to acquire the company's assets. Delta Air Service was incorporated on December 3, 1928, and was named after the Mississippi Delta region.

Passenger operations began on June 17, 1929, from Dallas, Texas, to Jackson, Mississippi, with stops at Shreveport and Monroe, Louisiana. By June 1930, service had extended east to Atlanta and west to Fort Worth, Texas. Passenger service ceased in October 1930 when the airmail contract for the route Delta had pioneered was awarded to another airline, which purchased the assets of Delta Air Service. Local banker Travis Oliver, acting as a trustee, C.E. Woolman, and other local investors purchased back the crop-dusting assets of Delta Air Service and incorporated as Delta Air Corporation on December 31, 1930.

Delta Air Corporation secured an airmail contract in 1934, and began doing business as Delta Air Lines over Mail Route 24, stretching from Fort Worth, Texas, to Charleston, South Carolina. Delta moved its headquarters from Monroe, Louisiana, to its current location in Atlanta in 1941. The company name officially became Delta Air Lines in 1945. In 1946, the company commenced regularly scheduled freight transport. In 1949, the company launched the first discounted fares between Chicago and Miami. In 1953, the company launched its first international routes after the acquisition of Chicago and Southern Air Lines. In 1959, it was the first airline to fly the Douglas DC-8. In 1960, it was the first airline to fly Convair 880 jets. In 1964, it launched the Deltamatic reservation systems using computers in the IBM 7070 series. In 1965, Delta was the first airline to fly the McDonnell Douglas DC-9.

Growth and acquisitions

By 1970, Delta had an all-jet fleet, and in 1972 it acquired Northeast Airlines. Trans-Atlantic service began in 1978 with the first nonstop flights from Atlanta to London. In 1981, Delta launched a frequent-flyer program. In 1987, it acquired Western Airlines, and that same year Delta began trans-Pacific service (Atlanta to Portland, Oregon, to Tokyo). In 1990, Delta was the first airline in the United States to fly McDonnell Douglas MD-11 jets. In 1991, it acquired substantially all of Pan Am's trans-Atlantic routes and the Pan Am Shuttle, rebranded as the Delta Shuttle. Delta was now the leading airline across the Atlantic.

In 1997, Delta was the first airline to board more than 100 million passengers in a calendar year. Also that year, Delta began an expansion of its international routes into Latin America. In 2003, the company launched Song, a low-cost carrier.

Bankruptcy and restructuring (2005–2007)

On September 14, 2005, the company filed for bankruptcy, citing rising fuel costs. It emerged from bankruptcy in April 2007 after fending off a hostile takeover from US Airways and its shares were re-listed on the New York Stock Exchange.

Acquisition of Northwest Airlines (2008–2010)

The acquisition of Northwest Airlines was announced on April 14, 2008. It was approved and consummated on October 29, 2008. Northwest continued to operate as a wholly owned subsidiary of Delta until December 31, 2009, when the Northwest Airlines operating certificate was merged into that of Delta. Delta completed integration with Northwest on January 31, 2010, when their computer reservations system and websites were combined, and the Northwest Airlines brand was officially retired.

From Wikipedia’s article on Delta Air Lines, shared under CC BY-SA 4.0.7

Leadership

Who has led Delta Air Lines, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (65)

Products and brands

As of April 2026 Delta flies to 64 countries on over 1,000 routes serving the Americas, Europe, Africa, West Asia, East Asia and Oceania. Delta operated 893 daily flights out of its Atlanta main hub in the summer of 2024.

Hubs

Delta has nine hubs as of January 2018:

Atlanta: The airline's largest hub serving the Southern and Eastern United States and as its main gateway to Latin America and the Caribbean.

Boston: Delta's secondary transatlantic hub. It offers service to destinations in Europe and North America.

Read the full text

Detroit: One of Delta's two Midwest hubs. It is the primary Asian gateway for the Eastern United States and it also provides service to many destinations in the Americas and Europe.

Los Angeles: Delta's secondary hub for the West Coast. It offers service to cities in Latin America, Asia, Australia, Europe, and major domestic cities and West Coast regional destinations.

Minneapolis/St. Paul: One of Delta's two Midwest hubs. It is the primary Canadian gateway for the airline and also serves many American metropolitan destinations, many regional destinations in the upper Midwest, and some select destinations in Europe and Asia.

New York–JFK: Delta's primary transatlantic hub. The hub also offers service on transcontinental "prestige routes" to Los Angeles and San Francisco.

New York–LaGuardia: Delta's second New York hub. Delta's service at LaGuardia covers numerous East Coast U.S. cities and several regional destinations in the U.S. and Canada.

Salt Lake City: Delta's hub for the Rocky Mountain region of the United States. Delta's service covers most major U.S. destinations and several regional destinations in the U.S., emphasizing the Rocky Mountains and select destinations in Canada and Mexico, and select cities in Europe, Hawaii and Asia.

Seattle/Tacoma: Delta's primary West Coast hub. The hub serves as an international gateway to Asia for the Western United States. Delta service also includes many major U.S. destinations as well as regional destinations in the Pacific Northwest.

Alliance and codeshare agreements

Delta is a member of the SkyTeam alliance and has codeshare agreements with the following airlines:

From Wikipedia’s article on Delta Air Lines, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries

  • Comair
  • Delta (Denmark)
  • Delta Sky Club
  • Endeavor Air
  • Freedom Airlines
  • Northeast Airlines

Divisions

  • Delta Private Jets

Also owns

From Wikidata.1

Acquisitions

  1. 2013Acquired Endeavor Air1
  2. 2008Acquired Northwest Airlines1
  3. 1999Atlantic Southeast Airlines became a subsidiary1
  4. Succeeded Chicago and Southern Air Lines1
  5. Succeeded Northeast Airlines1
  6. Succeeded Western Airlines1
  7. Succeeded Comair1
  8. Succeeded Northwest Airlines1

Former names

  • DELTA AIR LINES INC /DE/Feb 14, 1994 to Aug 8, 20196

Timeline

  1. 2016New chief executive Ed Bastian becomes CEO1
  2. 2007New chief executive Richard H. Anderson becomes CEO1
  3. 2004New chief executive Gerald Grinstein becomes CEO1
  4. 1997New chief executive Leo F. Mullin becomes CEO1
  5. 1987New chief executive Ronald W. Allen becomes CEO1
  6. 1978New chief executive David C. Garrett, Jr. becomes CEO1
  7. 1971New chief executive W.T. Beebe becomes CEO1
  8. 1970New chief executive Charles H. Dolson becomes CEO1
  9. 1965New chief executive Collett E. Woolman becomes CEO1
  10. Mar 2, 1925Founded Founded in Macon1

Recent filings

  1. Oct 9, 20268-K
  2. Oct 9, 202610-Q
  3. Aug 28, 2026N-PX
  4. Aug 14, 202613F-HR
  5. Aug 6, 2026SCHEDULE 13G
  6. Aug 6, 20264
  7. Aug 6, 20264/A
  8. Aug 6, 20264
  9. Aug 5, 2026144
  10. Aug 5, 2026144
  11. Aug 5, 20264
  12. Aug 5, 20264
  13. Aug 5, 20264
  14. Aug 5, 20264
  15. Aug 4, 2026144

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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