ATLANTA, July 18, 2007 – Delta Air Lines (NYSE:DAL) reported combined1 results for the quarter ended June 30, 2007.
Key points include:
- Delta’s second quarter pre-tax income was $1.9 billion. Excluding reorganization and related items, pre-tax income was $373 million, a nearly $200 million improvement compared to the prior year period.2,3
- Delta’s operating income for the June 2007 quarter was $490 million, the company’s fifth consecutive quarterly operating profit, reflecting an operating margin of 9.8 percent. Excluding reorganization and related items, operating income was $499 million, and operating margin was 10.0 percent.
- In the June 2007 quarter Delta generated $1.1 billion in free cash flow. As of June 30, 2007, Delta had $3.7 billion in cash, cash equivalents and short-term investments, of which $3.4 billion was unrestricted. The company’s undrawn revolving credit facility provides an additional $1 billion in unrestricted liquidity.
- Delta accrued $79 million in profit sharing for the June 2007 quarter, in recognition of the achievements of all Delta employees toward meeting the company’s financial targets.