Core Insights - Delta Air Lines reported solid profitability for the March quarter, with revenue of 13billion,a3.31.70 and 2.30[5][6]−Deltaisreducingplannedcapacitygrowthinthesecondhalfoftheyeartoalignsupplywithdemand,expectingprofitabilityof1.5 to 2billionfortheJunequarter[3][5]FinancialPerformance−TotaloperatingrevenuefortheMarchquarterwas14.0 billion, up 2% from the previous year, with operating income of 569million[21][32]−Adjustedoperatingincomewas591 million, with a margin of 4.6%, while pre-tax income increased to 382million[21][32]−Theairline′snetincomeforthequarterwas240 million, resulting in diluted earnings per share of 0.37,comparedto0.06 in the prior year [21][32] Revenue Breakdown - Passenger revenue increased to 11.48billion,a313.5 billion, with non-fuel costs at 9.9billion,reflectinga2.62.4 billion, with the average fuel price per gallon down 11% to 2.45[13][21]−Thecompanyexpectsnon−fuelunitcostgrowthtoremaininthelow−singledigitsforthesecondquarterandtherestoftheyear[9][10]BalanceSheetandLiquidity−Deltaendedthequarterwithtotaldebtandfinanceleaseobligationsof15.8 billion, down 18% from the previous year [10][14] - The company achieved its highest credit rating in decades, reflecting a focus on debt reduction and a gross leverage target of 1x [10][14] - Liquidity at the end of the quarter was 6.8billion,including3.1 billion in undrawn revolving credit facilities [14][38] Operational Highlights - Delta operated the most on-time airline year-to-date, leading its competitive set in on-time departures and arrivals [11][19] - The airline took delivery of nine new aircraft during the quarter and announced new international routes [19][19] - Delta celebrated its employees with $1.4 billion in profit sharing, recognizing their performance in 2024 [19][19]
Delta(DAL) Prnewswire·2025-04-09 10:30