ATLANTA— Delta Air Lines (DL) has released its financial results for the third quarter (Q3) of 2024, showcasing robust performance and a positive outlook.
The airline reported GAAP operating revenue of $15.7 billion and operating income of $1.4 billion, with an operating margin of 8.9%.
Delta Air Lines Q3 Results
CEO Ed Bastian highlighted Delta’s industry-leading operational and financial performance, noting a double-digit operating margin and nearly $3 billion in free cash flow generation year-to-date. In recognition of employee efforts, Delta accrued almost $1 billion in profit-sharing payouts in February.
Delta’s GAAP financial results for Q3 2024 include:
- Pre-tax income of $1.6 billion (10.0% margin)
- Earnings per share of $1.97
- Operating cash flow of $1.3 billion
- Debt and finance lease obligation payments of $263 million
- Total debt and finance lease obligations of $17.7 billion at quarter-end
Bastian expressed optimism for Q4, projecting a 30% increase in pre-tax profit to $1.4 billion compared to last year, potentially marking one of Delta’s most profitable fourth quarters ever.
Delta Air Lines anticipates robust earnings growth and margin expansion in Q4 2024, with projected earnings of $1.60 to $1.85 per share and an operating margin of 11% to 13%.
CFO Dan Janki attributes this outlook to operational efficiency and consistent non-fuel unit cost growth in the low single digits for the year.
Fleet and Other Updates
Delta is the most on-time airline year-to-date, leading in on-time departures, arrivals, and completion factors. The airline has taken delivery of 27 aircraft in 2024, including nine in Q3, comprising A321neo, A330-900, and A350-900 models.
Network Expansion: Delta announced its 2025 Transatlantic summer schedule, offering over 700 weekly flights to 33 destinations, including seven new routes.
The airline signed codeshare agreements with Scandinavian Airlines System or SAS (SK) and Saudia Airlines (SV), expanding its global reach. New services include a nonstop flight from Salt Lake City to Seoul and five new routes from Austin, Texas.
Employee Relations and Recognition: Delta accrued $964 million in profit sharing year-to-date, with $320 million in Q3 alone. The airline received multiple recognitions, including Great Place To Work® Certification™ for the sixth consecutive year and top rankings in various employer lists by Forbes and Indeed.
Customer Experience Enhancements: Delta expanded its free Wi-Fi service to over 90% of its domestic mainline network for SkyMiles members. The airline opened a new Delta One Lounge at LAX, expanded its Delta Sync seatback product, and introduced Delta Premium Select on select transcontinental flights.
Corporate Initiatives: Delta launched Delta Business Traveler, a complimentary program for individual business travelers, and expanded its Global Corporate Priority benefits program to include LATAM Airlines. The airline also became the official airline of the WNBA.
Community Engagement: Delta contributed $500,000 to the American Red Cross for Hurricane Helene relief efforts and participated in volunteer activities on 9/11 to address food insecurity.
Stay tuned with us. Further, follow us on social media for the latest updates.
Join us on Telegram Group for the Latest Aviation Updates. Subsequently, follow us on Google News
