DAL · 10-Q · 2026Q2

DELTA AIR LINES, INC.

Filed 2026-07-10 · Other · View original filing on EDGAR

Ranked Events

• Macroeconomic Factors ImpactImportance 90 · Surprise 100
  Delta attributes a large portion of its June 2026 quarter revenue and pricing moves to a rapid increase in jet fuel costs and broad-based demand strength across premium, main, corporate and loyalty customers. Aircraft…
• Gross Margin Drivers - FuelImportance 89 · Surprise 82
  Aircraft fuel and related taxes increased $2.0 billion for the six months ended June 30, 2026 versus the prior year, driven by a 46% increase in average jet fuel purchase price with increases beginning in March 2026.…
• Loyalty Program GrowthImportance 74 · Surprise 58
  Delta's SkyMiles program remains a material revenue source: total cash sales from marketing agreements related to the loyalty program were $4.5 billion and $4.0 billion for the six months ended June 30, 2026 and 2025,…
• Income Tax Rate and NOL UtilizationImportance 71 · Surprise 60
  During 2025 Delta utilized substantially all net operating loss carryforwards generated in 2017 and earlier and, due to limitations on post‑2017 NOLs, began making federal income tax cash payments. As of December 31,…
• Equity Investments ExposureImportance 71 · Surprise 60
  Delta reports total equity investments carrying value of $4.041 billion at June 30, 2026, including significant positions in carriers and related businesses. Following financing transactions in 2026, Delta concluded…
• Aircraft Purchase CommitmentsImportance 71 · Surprise 60
  At June 30, 2026 Delta's future aircraft purchase commitments totaled approximately $27.6 billion with scheduled deliveries and timing that remain uncertain due to supply chain, manufacturing and regulatory…
• Cargo Revenue GrowthImportance 66 · Surprise 74
  Cargo revenue increased 39% year-over-year in the June 2026 quarter, driven largely by higher volumes. Growth in cargo contributed meaningfully to the $3.1 billion total revenue increase versus the prior-year quarter.…
• Capital Expenditure ProgramImportance 64 · Surprise 42
  Delta expects 2026 capital expenditures to be over $5 billion, primarily for aircraft deliveries and advance deposit payments, fleet modifications and technology enhancements. For fleet planning, in March 2026 Delta…
• Outstanding Indebtedness and FacilitiesImportance 64 · Surprise 42
  Delta had $2.1 billion of cash outflows for repayments of debt and finance lease obligations in the six months ended June 30, 2026, and reports ongoing debt reduction initiatives including $1.3 billion of early…
• Refinery Segment ImpactImportance 62 · Surprise 50
  Monroe refinery typically produces ~200,000 barrels per day and supplies jet fuel to the airline while selling non-jet products to third parties; third-party refinery sales increased materially due to higher market…
• Revenue Performance and MixImportance 60 · Surprise 40
  Total revenue increased $4.9 billion, or 16%, for the six months ended June 30, 2026 on a 1% increase in capacity, driven by passenger revenue growth of $2.6 billion year-to-date. Passenger revenue mix shifted higher…
• Non-Operating Income DeclineImportance 59 · Surprise 82
  Total non-operating income was $145 million in the June 2026 quarter, down from $472 million in the June 2025 quarter, a decline of $327 million.,The decrease was driven primarily by lower mark-to-market gains on certain equity investments in the June 2026 quarter versus the June 2025 quarter.,This lower non-operating income reduced net income and diluted the impact of operating results for the quarter.
• Operating Expense TrendsImportance 54 · Surprise 40
  Total operating expense for the six months ended June 30, 2026 was $33,246 million, an increase of $5,229 million from $28,017 million in the prior-year period. Major drivers included the $2.0 billion increase in…
• Unit Cost Trends (CASM)Importance 53 · Surprise 48
  Total operating CASM increased 21% year-over-year in the June 2026 quarter, reflecting elevated fuel costs and other operating expense increases. Non-fuel unit cost (CASM-Ex) rose 6.8%, indicating underlying cost…
• MRO Expense IncreaseImportance 48 · Surprise 40
  MRO expense relates to Delta TechOps third-party maintenance, repair and overhaul services and increased year-to-date as the mix shifted to more work on legacy engines versus next-generation engines. Aircraft…
• Cash Flow and LiquidityImportance 48 · Surprise 6
  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…
• Capital Return ProgramImportance 42 · Surprise 40
  On April 23, 2026 the Board approved a quarterly dividend of $0.1875 per share, paid June 4, 2026, representing $123 million of the dividend payments and total cash dividends of $252 million for the six months ended…
• Wheels Up Partnership FinancingImportance 40 · Surprise 42
  During the six months ended June 30, 2026, Wheels Up drew on the revolving working capital credit facility and had $36 million outstanding as of June 30, 2026. In May 2026 Wheels Up entered a new $100 million term loan…
• MRO Service Mix ChangeImportance 40 · Surprise 42
  Delta TechOps third-party MRO revenue increased versus the prior period driven by a shift in work mix toward legacy engines versus next-generation engines. Management expects this mix shift to continue through 2026,…
• Profit Sharing Expense ChangeImportance 38 · Surprise 24
  Delta paid $1.3 billion in profit sharing payments in February 2026 related to 2025 pre-tax profit under its broad-based program (10% of profit for the first $2.5 billion, 20% above $2.5 billion). The program defines…

Revenue by Product (in millions)

Revenue by Geography (in millions)