Delta Air Lines Inc
delta.comWhat Do They Do?
Carries passengers on domestic and international flights and transports cargo through its global network.
10-K for FY2025, filed Feb 11, 2026
How Do They Make Money?
Passengers buy tickets before travel, and Delta earns the fare when it provides transportation; participating companies generally pay monthly for miles sold, with related revenue earned as miles are delivered or redeemed.
10-K for FY2025, filed Feb 11, 2026Passenger Tickets. We defer sales of passenger tickets to be flown by us or that we sell on behalf of other airlines in our air traffic…View ↗
Sale of Miles to Participating Companies. Customers earn miles based on their spending with participating companies, such as credit card…View ↗
We defer the amount allocated to award travel as part of loyalty program deferred revenue and recognize loyalty travel awards in passenger…View ↗
$63.4B
-
10-K for FY2025, filed Feb 11, 2026
$63.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Passenger
Sold outright
10-K for FY2025, filed Feb 11, 2026 |
82%
FY2022: 80%
|
Passenger, FY2025
$51.8B Sources
|
Sold outright |
|
Cargo
Sold outright
|
1.4%
FY2022: 2.1%
|
Cargo, FY2025
$900M Sources
|
Sold outright |
|
Other
|
17%
FY2022: 18%
|
Other, FY2025
$10.7B Sources
|
Who Are Their Customers?
Passengers travel on Delta, Delta Connection and partner airlines. Companies buy miles for their customers, and freight and aviation businesses use Delta's cargo and maintenance services.
10-K for FY2025, filed Feb 11, 2026Our SkyMiles loyalty program generates customer loyalty by rewarding customers with incentives to travel on Delta. This program allows…View ↗
Through our global network, our cargo operations are able to connect the world’s major freight gateways. We generate cargo revenues in…View ↗
In addition to providing maintenance and engineering support for our fleet of mainline and regional aircraft, our MRO operation, known as…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 9, 2026
Open tableView ↗
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Mar 17, 2026
Delta set multi-year financial targets
The presentation included targets for earnings-per-share growth, cash flow, operating margin and returns.
Sources
8-K, filed Mar 17, 2026
VALUE CREATION FRAMEWORK Three - to - five - year financial targets deliver sustained value creation EPS growth: Average annual; Free Cash…View ↗
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Mar 5, 2026
Delta appointed a new chief financial officer
Erik Snell is to take the role effective April 1, 2026.
Sources
8-K, filed Mar 5, 2026
Effective April 1, 2026, Peter W. Carter is being appointed as Delta’s President, Daniel C. Janki is being appointed as Delta’s Executive…View ↗
Growing. Revenue grew 2.1x in 4 years, from $29.9B in FY2021 to $63.4B in FY2025, about 21% a year.
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