DAL · 10-Q · 2026Q2 · Full report

Cash Flow and Liquidity

DELTA AIR LINES, INC. · 2026-07-10 · Importance 48 · Surprise 6 · From source text

As of June 30, 2026, Delta had $7.7 billion in cash, cash equivalents, short-term investments and aggregate undrawn principal amount available under its revolving credit facilities and approximately $3.1 billion undrawn under revolving credit facilities. Management expects to meet liquidity needs for the next twelve months with cash, cash equivalents and cash flows from operations and to meet long-term liquidity needs with cash flows from operations and financing arrangements. Operating cash flow was $4.0 billion for the six months ended June 30, 2026, and management identifies seasonality of advance ticket sales and sale of miles arrangements (notably American Express remuneration) as key drivers of operating cash flow timing. Delta also notes continued positive operating cash flows are expected for the remainder of 2026.

Key facts

• As of June 30, 2026, we had $7.7 billion in cash, cash equivalents, short-term investments and aggregate undrawn principal amount available under our revolving credit facilities. source
• Liquidity (cash, cash equivalents, short-term investments and undrawn revolving credit) as of June 30, 2026 was $7.7 billion. source
• We generated cash flows from operations of $4.0 billion and $4.2 billion in the six months ended June 30, 2026 and 2025, respectively. source
• Free cash flow reconciliation shows net cash provided by operating activities of $1,596 million for three months ended June 30, 2026 and net cash used in investing activities of $(1,512) million for that period. source
• Net cash provided by operating activities for the six months ended June 30, 2026: $4,027 million. source
• Cash and cash equivalents at June 30, 2026: $4,665 million (current assets line). source
• Free cash flow in the June 2026 quarter was $209 million (non-GAAP). source

Impact estimates