DALDelta Air Lines

Industrials · Airlines · NYSE

As a global airline based in the United States, we connect customers across our expansive global network with a commitment to ensuring that the future of travel is connected, personalized and enjoyable. 10-K, Item 1

Employees: 103,000
Headquarters: Atlanta, GA
CEO: Edward H. Bastian
Next results: around Jan 12, 2027

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RevenueFY2016–25 $63.4B+2.8% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $5.0B+44.8% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 $3.8B+33.2% Highest in 10 years 10-K FY2025 · XBRL Operating marginFY2016–25 9.2%−0.5 pts 17.6% in FY2016 10-K FY2025 · XBRL

What changed

latest 10-K

Area	What changed	Source
Risk factors	No new paragraphs, or fewer than two 10-Ks to compare	10-K Item 1A
Accounting checks	10 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	1 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

No new paragraphs in Risk Factors, or fewer than two 10-Ks to compare.

Accounting checks

latest 10-K

10 of 10 clear 0 worth a look. Checks, not verdicts.

✓
Receivables -11.6% vs revenue +2.8% (-14.4 pts)
✓
Cash from operations $8.3B vs net income $5.0B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Loyalty Program - Mileage Breakage. Same as last year: Employee Benefit Plans - Net Asset Value Per Share (NAV) Asset Valuation
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 6, 20268-K Material agreement signed, Other events 8-K items 1.01, 8.01

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Work on DAL in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/DAL/export.csv") into a cell.