Delta Air Lines said operating income for June 2025 was $2.1 billion, a decrease of $165 million compared to June 2024. Total revenue decreased $10 million. Passenger revenue increased $26 million.

10-QQuarterly reportFiled Jul 10, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Delta Air Lines said operating income for June 2025 was $2.1 billion, a decrease of $165 million compared to June 2024. Total revenue decreased $10 million. Passenger revenue increased $26 million.
The company said total operating expense for June 2025 increased $155 million, or 1%, compared to June 2024. It cited a 4% increase in capacity and higher employee costs from increased wages as factors, with lower aircraft fuel and related taxes offsetting a substantial portion. CASM decreased 3%, while CASM-Ex increased 2.7%.
Delta said operating activities generated $1.9 billion in June 2025, investing activities used $1.2 billion, and free cash flow was $733 million. In the same quarter, the company issued $2.0 billion in aggregate principal amount of unsecured notes and had cash outflows of $2.9 billion related to repayments of debt and finance leases, using a portion of the proceeds to repay the PSP1 Loan.
Delta said that as of June 30, 2025, its liquidity was $6.4 billion, with approximately $3.1 billion undrawn and available under its revolving credit facilities. The company also approved a $1.0 billion opportunistic share repurchase program, but no shares were repurchased in the June quarter. In June 3, the quarterly dividend paid was $0.15 per share, for total cash dividends of $97 million.

Key figures

Quarter ended June 30, 2025

Revenue: $16.6B
Operating income: $2.1B
Net income: $2.1B
EPS: $3.27

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

June 2025 Operating Income and Revenue Changes

Delta Air Lines said operating income for June 2025 was $2.1 billion, a decrease of $165 million compared to June 2024. Total revenue decreased $10 million. Passenger revenue increased $26 million.

Source · Based on the MD&A text of the filing

Operating Expense and Unit Cost Changes

The company said total operating expense for June 2025 increased $155 million, or 1%, compared to June 2024. It cited a 4% increase in capacity and higher employee costs from increased wages as factors, with lower aircraft fuel and related taxes offsetting a substantial portion. CASM decreased 3%, while CASM-Ex increased 2.7%.

Source · Based on the MD&A text of the filing

Quarterly Cash Flow and Debt Repayment

Delta said operating activities generated $1.9 billion in June 2025, investing activities used $1.2 billion, and free cash flow was $733 million. In the same quarter, the company issued $2.0 billion in aggregate principal amount of unsecured notes and had cash outflows of $2.9 billion related to repayments of debt and finance leases, using a portion of the proceeds to repay the PSP1 Loan.

Source · Based on the MD&A text of the filing

Liquidity and Shareholder Returns

Delta said that as of June 30, 2025, its liquidity was $6.4 billion, with approximately $3.1 billion undrawn and available under its revolving credit facilities. The company also approved a $1.0 billion opportunistic share repurchase program, but no shares were repurchased in the June quarter. In June 3, the quarterly dividend paid was $0.15 per share, for total cash dividends of $97 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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