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Delta Air Lines Inc. (DAL-5.97%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Delta's financial performance, highlighting an operating income of $6.0 billion, an improvement of $474 million compared to 2023. The company reported a net income of $3.457 billion, down from $4.609 billion in the previous year.
Delta's total operating revenue increased by 6% to $61.643 billion, driven by a 6% increase in capacity and continued demand for domestic and international travel. Passenger revenue was $50.894 billion, with loyalty travel awards contributing $3.841 billion.
The airline's operating expenses rose by 6% to $55.648 billion, primarily due to higher employee-related costs and increased capacity. Fuel expenses decreased by 5% due to a 12% reduction in the market price of jet fuel.
Delta's refinery segment, operated by Monroe Energy, reported an operating income of $38 million, a decrease from $385 million in 2023, largely due to lower industry refining margins.
The company maintained a strong liquidity position with $6.1 billion in cash, cash equivalents, short-term investments, and available credit facilities as of December 31, 2024.
Delta's capital expenditures amounted to $5.1 billion, primarily for aircraft purchases and fleet modifications. The company has committed to future aircraft purchases totaling approximately $18.3 billion.
The filing also discusses Delta's environmental sustainability initiatives, including efforts to achieve net-zero greenhouse gas emissions by 2050, with a focus on fleet renewal and sustainable aviation fuel.
Delta's Board of Directors reinstated a quarterly dividend program in 2023, with dividend payments continuing through 2024. The company paid $321 million in dividends during the year.
The report includes details on Delta's joint venture and cooperation agreements with international carriers, highlighting strategic alliances with Aeroméxico, Air France-KLM, LATAM, and Korean Air.
Delta's management identified cybersecurity as a key focus area, with ongoing investments in technology to enhance customer experience and operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Delta Air Lines Inc. annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.