Delta Air Lines reported its financial performance for the quarter ended September 30, 2024, with operating revenue reaching $15.677 billion, a slight increase from $15.488 billion in the same quarter of 2023. The airline's operating income, however, decreased to $1.397 billion from $1.984 billion year-over-year. Net income for the quarter was $1.272 billion, up from $1.108 billion in the previous year, with diluted earnings per share at $1.97 compared to $1.72. The company's total assets at the end of the period were $75.368 billion. Delta's refinery segment saw an increase in third-party sales, contributing to the revenue growth. However, the quarter was marked by a significant disruption due to a CrowdStrike-caused outage, leading to approximately 7,000 flight cancellations and an estimated direct revenue impact of $380 million...Show More

Delta Air Lines reported its financial performance for the quarter ended September 30, 2024, with operating revenue reaching $15.677 billion, a slight increase from $15.488 billion in the same quarter of 2023. The airline's operating income, however, decreased to $1.397 billion from $1.984 billion year-over-year. Net income for the quarter was $1.272 billion, up from $1.108 billion in the previous year, with diluted earnings per share at $1.97 compared to $1.72. The company's total assets at the end of the period were $75.368 billion. Delta's refinery segment saw an increase in third-party sales, contributing to the revenue growth. However, the quarter was marked by a significant disruption due to a CrowdStrike-caused outage, leading to approximately 7,000 flight cancellations and an estimated direct revenue impact of $380 million. Operating expenses rose by 6% due to increased capacity and higher employee costs, among other factors. The company's liquidity remained strong with $6.9 billion in cash, cash equivalents, and short-term investments. Delta's future plans include continued investment in fleet modernization and technology enhancements, with a projected capital spend of approximately $5.0 billion for 2024, excluding the New York-LaGuardia airport project.