Delta Air Lines (DAL) 10-K 11 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-5424
Entity Registrant Name	DELTA AIR LINES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-0218548
Entity Address, Address Line One	Post Office Box 20706
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30320-6001
City Area Code	404
Local Phone Number	715-2600
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	DAL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 30.6
Entity Common Stock, Shares Outstanding		645,962,006
Documents Incorporated by Reference	Part III of this Form 10-K incorporates by reference certain information from the registrant's definitive Proxy Statement for its 2025 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission.
Entity Central Index Key	0000027904
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 3,069	$ 2,741
Short-term investments	0	1,127
Accounts receivable, net of an allowance for uncollectible accounts of $18 and $17	3,224	3,130
Fuel, expendable parts and supplies inventories, net of an allowance for obsolescence of $120 and $123	1,428	1,314
Prepaid expenses and other	2,123	1,957
Total current assets	9,844	10,269
Noncurrent Assets:
Property and equipment, net of accumulated depreciation and amortization of $23,228 and $21,707	37,595	35,486
Operating lease right-of-use assets	6,644	7,004
Goodwill	9,753	9,753
Identifiable intangibles, net of accumulated amortization of $919 and $911	5,975	5,983
Equity investments	2,846	3,457
Other noncurrent assets	2,715	1,692
Total noncurrent assets	65,528	63,375
Total assets	75,372	73,644
Current Liabilities:
Current maturities of debt and finance leases	2,175	2,983
Current maturities of operating leases	763	759
Accounts payable	4,650	4,446
Accrued salaries and related benefits	4,762	4,561
Fuel card obligation	1,100	1,100
Other accrued liabilities	1,812	1,617
Total current liabilities	26,670	26,418
Noncurrent Liabilities:
Debt and finance leases	14,019	17,071
Pension, postretirement and related benefits	3,144	3,601
Noncurrent operating leases	5,814	6,468
Deferred income taxes, net	2,176	908
Other noncurrent liabilities	3,744	3,561
Total noncurrent liabilities	33,409	36,121
Commitments and Contingencies
Stockholders' Equity:
Common stock at $0.0001 par value; 1,500,000,000 shares authorized, 654,571,606 and 654,671,194 shares issued	0	0
Additional paid-in capital	11,740	11,641
Retained earnings	8,783	5,650
Accumulated other comprehensive loss	(4,979)	(5,845)
Treasury stock, at cost, 8,098,971 and 11,224,246 shares	(251)	(341)
Total stockholders' equity	15,293	11,105
Total liabilities and stockholders' equity	75,372	73,644
Air traffic liability
Current Liabilities:
Deferred revenue liability, current	7,094	7,044
Loyalty program deferred revenue
Current Liabilities:
Deferred revenue liability, current	4,314	3,908
Noncurrent Liabilities:
Loyalty program deferred revenue	$ 4,512	$ 4,512

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Allowance for uncollectible accounts	$ 18	$ 17
Allowance for obsolescence	120	123
Noncurrent Assets:
Accumulated depreciation and amortization	23,228	21,707
Accumulated amortization	$ 919	$ 911
Stockholders' Equity:
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock, authorized (shares)	1,500,000,000	1,500,000,000
Common stock, issued (shares)	654,571,606	654,671,194
Treasury stock, at cost (shares)	8,098,971	11,224,246

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Revenue:
Total operating revenue	$ 61,643	$ 58,048	$ 50,582
Operating Expense:
Salaries and related costs	16,161	14,607	11,902
Aircraft fuel and related taxes	10,566	11,069	11,482
Ancillary businesses and refinery	5,416	4,172	5,756
Contracted services	4,228	4,041	3,345
Landing fees and other rents	3,150	2,563	2,181
Aircraft maintenance materials and outside repairs	2,616	2,432	1,982
Depreciation and amortization	2,513	2,341	2,107
Passenger commissions and other selling expenses	2,485	2,334	1,891
Regional carrier expense	2,328	2,200	2,051
Passenger service	1,788	1,750	1,453
Profit sharing	1,389	1,383	563
Aircraft rent	548	532	508
Pilot agreement and related expenses	0	864	0
Other	2,460	2,239	1,700
Total operating expense	55,648	52,527	46,921
Operating Income	5,995	5,521	3,661
Non-Operating (Expense)/Income:
Interest expense, net	(747)	(834)	(1,029)
Gain/(loss) on investments, net	(319)	1,263	(783)
Loss on extinguishment of debt	(39)	(63)	(100)
Miscellaneous, net	(232)	(279)	165
Total non-operating (expense)/income, net	(1,337)	87	(1,747)
Income Before Income Taxes	4,658	5,608	1,914
Income Tax Provision	(1,201)	(999)	(596)
Net Income	$ 3,457	$ 4,609	$ 1,318
Basic Earnings Per Share (USD per share)	$ 5.39	$ 7.21	$ 2.07
Diluted Earnings Per Share (USD per share)	$ 5.33	$ 7.17	$ 2.06
Passenger
Operating Revenue:
Total operating revenue	$ 50,894	$ 48,909	$ 40,218
Cargo
Operating Revenue:
Total operating revenue	822	723	1,050
Other
Operating Revenue:
Total operating revenue	$ 9,927	$ 8,416	$ 9,314

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,457	$ 4,609	$ 1,318
Other comprehensive income:
Net change in pension and other benefits	864	(44)	1,329
Net change in other	2	0	0
Total Other Comprehensive Income/(Loss)	866	(44)	1,329
Comprehensive Income	$ 4,323	$ 4,565	$ 2,647

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities:
Net income	$ 3,457	$ 4,609	$ 1,318
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,513	2,341	2,107
Deferred income taxes	1,155	980	591
(Gain)/loss on fair value investments	323	(1,283)	874
Pension, postretirement and postemployment payments greater than expense	(296)	(121)	(453)
Changes in certain assets and liabilities:
Receivables	(126)	(7)	(728)
Prepaids and other current assets	(241)	137	(1,026)
Profit sharing	6	821	455
Other payables, deferred revenue and accrued liabilities	614	(285)	1,226
Other, net	163	(50)	(227)
Net cash provided by operating activities	8,025	6,464	6,363
Property and equipment additions:
Flight equipment, including advance payments	(3,914)	(3,645)	(4,495)
Ground property and equipment, including technology	(1,226)	(1,678)	(1,871)
Purchase of equity investments	0	(152)	(870)
Purchase of short-term investments	0	(2,312)	(2,704)
Redemption of short-term investments	1,137	4,547	2,804
Other, net	264	92	212
Net cash used in investing activities	(3,739)	(3,148)	(6,924)
Cash Flows From Financing Activities:
Proceeds from long-term obligations	0	878	0
Payments on debt and finance lease obligations	(3,953)	(4,071)	(4,475)
Cash dividends	(321)	(128)	0
Other, net	14	(73)	(60)
Net cash used in financing activities	(4,260)	(3,394)	(4,535)
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash	26	(78)	(5,096)
Cash, cash equivalents and restricted cash at beginning of period	3,395	3,473	8,569
Cash, cash equivalents and restricted cash at end of period	3,421	3,395	3,473
Supplemental Disclosure of Cash Paid for Interest	1,001	1,164	1,261
Non-Cash Transactions:
Right-of-use assets acquired or modified under operating leases	327	661	531
Flight and ground equipment acquired or modified under finance leases	(17)	31	91
Operating leases converted to finance leases	25	84	342
Equity investments and other financings	0	0	330
Air traffic liability
Changes in certain assets and liabilities:
Liabilities and deferred revenue	50	(1,216)	1,902
Loyalty program deferred revenue
Changes in certain assets and liabilities:
Liabilities and deferred revenue	$ 407	$ 538	$ 324

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions		Total	Common Stock	Additional Paid-In Capital	Retained Earnings / (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (shares) at Dec. 31, 2021			650,000,000
Beginning balance at Dec. 31, 2021		$ 3,887	$ 0	$ 11,447	$ (148)	$ (7,130)	$ (282)
Beginning balance, treasury (shares) at Dec. 31, 2021							10,000,000
Consolidated Statements of Stockholders' Equity
Net income		1,318			1,318
Other comprehensive income (loss)		1,329				1,329
Common stock issued for employee equity awards (shares)	[1]		2,000,000				1,000,000
Common stock issued for employee equity awards	[1]	$ 48		79			$ (31)
Stock options exercised (in shares)		0
Ending balance (shares) at Dec. 31, 2022			652,000,000
Ending balance at Dec. 31, 2022		$ 6,582	$ 0	11,526	1,170	(5,801)	$ (313)
Ending balance, treasury (shares) at Dec. 31, 2022							11,000,000
Consolidated Statements of Stockholders' Equity
Net income		4,609			4,609
Dividends declared		(129)			(129)
Other comprehensive income (loss)		(44)				(44)
Common stock issued for employee equity awards (shares)	[1]		3,000,000
Common stock issued for employee equity awards	[1]	$ 87		115			$ (28)
Stock options exercised (in shares)		0
Ending balance (shares) at Dec. 31, 2023			655,000,000
Ending balance at Dec. 31, 2023		$ 11,105	$ 0	11,641	5,650	(5,845)	$ (341)
Ending balance, treasury (shares) at Dec. 31, 2023		11,224,246					11,000,000
Consolidated Statements of Stockholders' Equity
Net income		$ 3,457			3,457
Dividends declared		(324)			(324)
Other comprehensive income (loss)		866				866
Common stock issued for employee equity awards (shares)	[1]		(1,000,000)				(3,000,000)
Common stock issued for employee equity awards	[1]	$ 121		31			$ 90
Stock options exercised (in shares)		1,400,000	1,000,000
Stock options exercised		$ 68		68
Ending balance (shares) at Dec. 31, 2024			655,000,000
Ending balance at Dec. 31, 2024		$ 15,293	$ 0	$ 11,740	$ 8,783	$ (4,979)	$ (251)
Ending balance, treasury (shares) at Dec. 31, 2024		8,098,971					8,000,000
[1] Treasury shares were withheld for payment of taxes, at a weighted average price per share of $40.84, $40.08 and $40.52 in 2024, 2023 and 2022, respectively.

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share (USD per share)	$ 0.50	$ 0.2
Treasury shares withheld for payment of taxes, weighted average price per share (USD per share)	$ 40.84	$ 40.08	$ 40.52

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Delta Air Lines, Inc., a Delaware corporation, provides scheduled air transportation for passengers and cargo throughout the United States ("U.S.") and around the world. Our Consolidated Financial Statements include the accounts of Delta Air Lines, Inc. and our consolidated subsidiaries and have been prepared in accordance with generally accepted accounting principles in the U.S. ("GAAP"). We are not the primary beneficiary of, nor do we have a controlling financial interest in, any variable interest entity. Accordingly, we have not consolidated any variable interest entity. We have marketing alliances with other airlines to enhance our access to domestic and international markets. These arrangements may include codesharing, reciprocal loyalty program benefits, shared or reciprocal access to passenger lounges, joint promotions, common use of airport gates and ticket counters, office co-location and other marketing agreements. We have received antitrust immunity for certain marketing arrangements, which enables us to offer a more integrated route network and develop common sales, marketing and discount programs for customers. Some of our marketing arrangements provide for the sharing of revenues and expenses. Revenues and expenses associated with the flights we operate under collaborative arrangements are presented on a gross basis in the applicable line items on our Consolidated Statements of Operations ("income statement"). We have reclassified certain prior period amounts to conform to the current period presentation. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes. Use of Estimates We are required to make estimates and assumptions when preparing our Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates. Recent Accounting Standards Recently Adopted Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This standard requires disclosure of significant segment expenses and other segment items by reportable segment. We adopted this standard effective January 1, 2024. See Note 14, "Segments," for further information regarding our segment reporting. Standards Effective in Future Years Income Taxes. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This standard enhances disclosures related to income taxes, including the rate reconciliation and information on income taxes paid. This ASU is effective beginning January 1, 2025. Upon adoption of this ASU we expect to include certain additional disclosures in the effective income tax rate reconciliation in the footnotes to our Consolidated Financial Statements. Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." This standard requires disclosure of specific information about costs and expenses and becomes effective January 1, 2027. We are assessing the impact of this ASU and, upon adoption, may be required to include certain additional disclosures in the footnotes to our Consolidated Financial Statements. Significant Accounting Policies Our significant accounting policies are disclosed below or included within the topic-specific notes included herein. Cash and Cash Equivalents and Short-Term Investments Short-term, highly liquid investments with maturities of three months or less when purchased are classified as cash and cash equivalents. Investments with maturities of greater than three months, but not in excess of one year, when purchased were classified as short-term investments and stated at fair value. Investments with maturities beyond one year when purchased may be classified as short-term investments if they are expected to be available to support our short-term liquidity needs. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets ("balance sheets") that sum to the total of the same such amounts shown within the Consolidated Statements of Cash Flows ("cash flows statement"). Reconciliation of cash, cash equivalents and restricted cash December 31, (in millions) 2024 2023 2022 Current assets: Cash and cash equivalents $ 3,069 $ 2,741 $ 3,266 Restricted cash included in prepaid expenses and other 168 199 138 Noncurrent assets: Restricted cash included in other noncurrent assets 184 455 69 Total cash, cash equivalents and restricted cash $ 3,421 $ 3,395 $ 3,473 Inventories Fuel. As part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel, our wholly owned subsidiary, Monroe Energy, LLC ("Monroe"), operates the Trainer oil refinery. Refined products (finished goods) and feedstock and blendstock inventories (work-in-process) are carried at the lower of cost and net realizable value. We use jet fuel in our airline operations that is produced by the refinery, procured through the exchanges with third parties of gasoline, diesel and other refined products ("non-jet fuel products") the refinery produces and purchased directly from third parties. Cost is determined using the first-in, first-out method. Costs include the raw material consumed plus direct manufacturing costs (such as labor, utilities and supplies) as incurred and an applicable portion of manufacturing overhead. Expendables Parts and Supplies. Inventories of expendable parts related to flight equipment, which cannot be economically repaired, reconditioned or reused after removal from the aircraft, are carried at moving average cost and charged to aircraft maintenance materials and outside repairs as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet. We also provide allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are estimated to have residual value of 5% of the original cost. Accounting for Refinery Related Buy/Sell Agreements To the extent that we receive jet fuel for non-jet fuel products exchanged under buy/sell agreements, we account for these transactions as nonmonetary exchanges. We have recorded these nonmonetary exchanges at the carrying amount of the non-jet fuel products transferred within aircraft fuel and related taxes on the income statement. Derivatives Changes in fuel prices, interest rates and foreign currency exchange rates impact our results of operations. In an effort to manage our exposure to these risks, we may enter into derivative contracts and adjust our derivative portfolio as market conditions change. Our derivative contracts are recognized at fair value on our balance sheets and had net balances of $17 million and $5 million at December 31, 2024 and 2023, respectively. See Note 3, "Fair Value Measurements," for further information regarding our derivative contracts. Long-Lived Assets Our long-lived lived assets include property and equipment, net and operating lease right-of-use ("ROU") assets on our balance sheets. Our tangible assets consist primarily of flight equipment, which is mobile across geographic markets. Accordingly, assets are not allocated to specific geographic regions. See Note 7, "Leases," for further information regarding our leases. The following table summarizes our property and equipment: Property and equipment by classification December 31, (in millions, except for estimated useful life) Estimated Useful Life 2024 2023 Flight equipment (1) 25-34 years $ 44,722 $ 40,976 Ground property and equipment 3-40 years 10,695 9,986 Information technology-related assets 3-15 years 3,135 3,307 Flight and ground equipment under finance leases Lease term or estimated useful life 1,196 1,862 Advance payments for equipment 1,075 1,062 Less: accumulated depreciation and amortization (2) (23,228) (21,707) Total property and equipment, net $ 37,595 $ 35,486 (1) Includes aircraft and associated engines and parts. (2) Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $371 million and $525 million at December 31, 2024 and 2023, respectively. We record property and equipment at cost and depreciate or amortize these assets on a straight-line basis to their estimated residual values over their estimated useful lives. The estimated useful life for leasehold improvements is the shorter of lease term or estimated useful life. Depreciation and amortization expense related to our property and equipment was $2.5 billion, $2.3 billion and $2.1 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Residual values for owned aircraft, engines, spare parts and simulators are generally 5% to 10% of cost. We capitalize certain internal and external costs incurred to develop and implement software and amortize those costs over an estimated useful life of three We review flight equipment, ROU assets and other long-lived assets used in operations for impairment losses when events and circumstances indicate the assets may be impaired. Factors which could be indicators of impairment include, but are not limited to (1) a decision to permanently remove flight equipment or other long-lived assets from operations, (2) significant changes in the estimated useful life, (3) significant changes in projected cash flows, (4) permanent and significant declines in fleet fair values and (5) changes to the regulatory environment. For long-lived assets held for sale, we discontinue depreciation and record impairment losses when the carrying amount of these assets is greater than the fair value less the cost to sell. To determine whether impairments exist for aircraft used in operations, we group assets at the fleet type level or at the contract level for aircraft operated by third-party regional carriers (i.e., the lowest level for which there are identifiable cash flows) and then estimate future cash flows based on projections of capacity, passenger mile yield, fuel and labor costs and other relevant factors. If an asset group is impaired, the impairment loss recognized is the amount by which the asset group's carrying amount exceeds its estimated fair value. We estimate aircraft fair values using published sources, appraisals and bids received from third parties, as available. Fuel Card Obligation We have a purchasing card with American Express for the purpose of buying jet fuel and crude oil. The card carried a maximum credit limit of $1.1 billion as of December 31, 2024 and must be paid monthly. At both December 31, 2024 and 2023, we had $1.1 billion outstanding on this purchasing card and the activity was classified as a financing activity in our cash flows statement. Manufacturers' Credits We periodically receive credits in connection with the acquisition of aircraft and engines or in connection with delivery delays or manufacturing defects. These credits are deferred until the aircraft and engines are delivered, and then applied as a reduction to the cost of the related equipment. Maintenance Costs We record maintenance costs related to our mainline and regional fleets in aircraft maintenance materials and outside repairs and regional carrier expense, respectively. Maintenance costs are expensed as incurred, except for costs incurred under power-by-the-hour contracts, which are expensed based on actual hours flown. Power-by-the-hour contracts transfer certain risk to third-party service providers and fix the amount we pay per flight hour or per flight cycle to the service provider in exchange for maintenance and repairs under a predefined maintenance program. Modifications that enhance the operating performance or extend the useful lives of airframes or engines are capitalized and amortized over the remaining estimated useful life of the asset or the remaining lease term, whichever is shorter. Advertising Costs We expense advertising costs in passenger commissions and other selling expenses in the year the advertising first takes place. Advertising expense was $438 million, $347 million and $302 million for the years ended December 31, 2024, 2023 and 2022, respectively. Commissions and Merchant Fees Passenger sales commissions and merchant fees are recognized in passenger commissions and other selling expenses when the related revenue is recognized.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Passenger Revenue Passenger revenue is composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight. Passenger revenue by category Year Ended December 31, (in millions) 2024 2023 2022 Ticket $ 45,096 $ 43,596 $ 35,626 Loyalty travel awards 3,841 3,462 2,898 Travel-related services 1,957 1,851 1,694 Total passenger revenue $ 50,894 $ 48,909 $ 40,218 Ticket Passenger Tickets. We defer sales of passenger tickets to be flown by us or that we sell on behalf of other airlines in our air traffic liability. Passenger revenue is recognized when we provide transportation. For tickets that we sell on behalf of other airlines, we reduce the air traffic liability when consideration is remitted to those airlines. The air traffic liability primarily includes sales of passenger tickets with scheduled departure dates in the future and travel credits, which can be applied as payment toward the cost of a ticket. We periodically evaluate the estimated air traffic liability and may record adjustments in our income statement. These adjustments relate primarily to tickets that expire unused ("ticket breakage") and items for which final settlement occurs in periods subsequent to the sale of the related tickets such as refunds, exchanges and transactions with other airlines. We recognized approximately $6.5 billion, $7.4 billion and $4.2 billion in passenger revenue during the years ended December 31, 2024, 2023 and 2022, respectively, that had been recorded in our air traffic liability balance at the beginning of those periods. Ticket Breakage. We estimate the value of ticket breakage and recognize revenue at the scheduled flight date. Our ticket breakage estimates are primarily based on historical experience, ticket contract terms and customers’ travel behavior. Regional Carriers. Our regional carriers include both third-party regional carriers with which we have contract carrier agreements ("contract carriers") and Endeavor Air, Inc., our wholly owned subsidiary. Our contract carrier agreements are primarily structured as capacity purchase agreements where we purchase all or a portion of the contract carrier's capacity and are responsible for selling the seat inventory we purchase. We record revenue related to our capacity purchase agreements in passenger revenue and the related expenses in regional carrier expense. See Note 10, "Commitments and Contingencies," for additional information regarding contract carrier agreements. Loyalty Travel Awards Loyalty travel awards revenue is related to the redemption of mileage credits ("miles") for travel. We recognize loyalty travel awards revenue in passenger revenue as miles are redeemed and transportation is provided. See below for discussion of our loyalty program accounting policies. Travel-Related Services Travel-related services are primarily composed of services performed in conjunction with a passenger’s flight, including baggage fees, administrative fees and on-board sales. We recognize revenue for these services when the related transportation service is provided. Loyalty Program Our SkyMiles loyalty program generates customer loyalty by rewarding customers with incentives to travel on Delta. This program allows customers to earn miles by flying on Delta, Delta Connection carriers and other airlines that participate in the loyalty program. When traveling, customers earn miles primarily based on the passenger's loyalty program status, fare class and ticket price. Customers can also earn miles through participating companies. Miles are redeemable by customers for air travel on Delta and other participating airlines, access to Delta Sky Club and other program awards. To facilitate transactions with participating companies, we sell miles to non-airline businesses and other airlines. The loyalty program includes two types of transactions that are considered revenue arrangements with multiple performance obligations (1) passenger ticket sales earning miles and (2) sale of miles to participating companies. Passenger Ticket Sales Earning Miles. Passenger ticket sales earning miles provide customers with (1) miles earned and (2) air transportation, which are each considered performance obligations. We value each performance obligation on a standalone basis. To value the miles earned, we consider the quantitative value a passenger receives by redeeming miles for a ticket rather than paying cash, which is referred to as equivalent ticket value ("ETV"). Our estimate of ETV is adjusted for miles that are not likely to be redeemed ("mileage breakage"). We use statistical models to estimate mileage breakage based on historical redemption patterns. A change in assumptions regarding the redemption activity for miles or the estimated fair value of miles expected to be redeemed could have a material impact on our revenue in the year in which the change occurs and in future years. We recognize mileage breakage proportionally during the period in which the remaining miles are actually redeemed. We defer revenue for the miles when earned and recognize loyalty travel awards in passenger revenue as the miles are redeemed and transportation is provided. We record the air transportation portion of the passenger ticket sales in air traffic liability and recognize passenger revenue when we provide transportation or if the ticket goes unused. Sale of Miles to Participating Companies. Customers earn miles based on their spending with participating companies, such as credit card, ridesharing, retail, car rental and hotel companies, with which we have marketing agreements to sell miles. Our contracts to sell miles under these marketing agreements have multiple performance obligations. Payments are typically due to us monthly based on the volume of miles sold during the period, and the initial terms of our marketing contracts are from one Our most significant arrangement to sell miles relates to our co-brand credit card relationship with American Express. Our agreements with American Express provide for joint marketing, grant certain benefits to Delta-American Express co-branded credit card holders ("cardholders") and American Express Membership Rewards program participants, and allow American Express to market its services or products using our customer database. Cardholders earn miles for making purchases using co-branded cards, and certain cardholders may also receive baggage fee waivers, lounge access, priority boarding and other benefits while traveling on Delta. Additionally, participants in the American Express Membership Rewards program may exchange their points for miles under the loyalty program. We sell miles to American Express which are then provided to their customers under the co-brand credit card program and the Membership Rewards program. We account for marketing agreements, including those with American Express, by allocating the consideration to the individual products and services delivered. We allocate the value based on the relative selling prices of those products and services, which generally consist of award travel, baggage fee waivers, lounge access, priority boarding and the use of our brand. We determine our best estimate of the selling prices by using a discounted cash flow analysis using multiple inputs and assumptions, including (1) the expected number of miles awarded and number of miles redeemed, (2) ETV for the award travel obligation adjusted for mileage breakage, (3) published rates on our website for baggage fees, Delta Sky Club lounge access and other benefits while traveling on Delta, (4) brand value (using estimated royalties generated from the use of our brand) and (5) volume discounts provided to certain partners. We defer the amount allocated to award travel as part of loyalty program deferred revenue and recognize loyalty travel awards in passenger revenue as the miles are redeemed and transportation is provided. Revenue allocated to services performed in conjunction with a passenger’s flight, such as baggage fee waivers, is recognized as travel-related services in passenger revenue when the related service is performed. Revenue allocated to Delta Sky Club lounge access is recognized as miscellaneous in other revenue as access is provided. Revenue allocated to the remaining performance obligations, primarily brand value, is recorded as loyalty program in other revenue as miles are delivered. Current Activity of the Loyalty Program. Miles are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue is comprised of miles that were part of the loyalty program deferred revenue balance at the beginning of the period as well as miles that were issued during the period. The table below presents the activity of the current and noncurrent loyalty program deferred revenue, and includes miles earned through travel and miles sold to participating companies, which are primarily through marketing agreements. Loyalty program activity (in millions) 2024 2023 2022 Balance at January 1 $ 8,420 $ 7,882 $ 7,559 Miles earned 4,463 4,173 3,419 Travel miles redeemed (3,841) (3,462) (2,898) Non-travel miles redeemed (216) (173) (198) Balance at December 31 $ 8,826 $ 8,420 $ 7,882 The timing of mile redemptions can vary widely; however, the majority of new miles have historically been redeemed within two years of being earned. The loyalty program deferred revenue classified as a current liability represents our estimate of revenue expected to be recognized in the next twelve months based on projected redemptions, while the balance classified as a noncurrent liability represents our estimate of revenue expected to be recognized beyond twelve months. Cargo Revenue Cargo revenue is recognized when we provide the transportation. Other Revenue Year Ended December 31, (in millions) 2024 2023 2022 Refinery $ 4,642 $ 3,379 $ 4,977 Loyalty program 3,297 3,093 2,597 Ancillary businesses 772 840 846 Miscellaneous 1,216 1,104 894 Total other revenue $ 9,927 $ 8,416 $ 9,314 Refinery. This represents refinery sales to third parties. See Note 14, "Segments," for more information on revenue recognition within our refinery segment. Loyalty Program. This relates to revenues from brand usage by third parties and other performance obligations embedded in miles sold, which are included within the total cash sales from marketing agreements, discussed above. This also includes the redemption of miles for non-travel awards. Ancillary Businesses. This includes revenues from aircraft maintenance services we provide to third parties and our vacation package operations. Miscellaneous. This is primarily composed of revenues related to lounge access, including access provided to certain American Express cardholders, codeshare agreements and certain other commercial relationships. Revenue by Geographic Region Operating revenue for the airline segment is recognized in a specific geographic region based on the origin, flight path and destination of each flight segment. A significant portion of the refinery segment's revenues typically consists of fuel sales to support the airline, which is eliminated in the Consolidated Financial Statements. The remaining operating revenue for the refinery segment is included in the domestic region. Our passenger and operating revenue by geographic region are summarized in the following table: Revenue by geographic region Passenger Revenue Operating Revenue Year Ended December 31, Year Ended December 31, (in millions) 2024 2023 2022 2024 2023 2022 Domestic $ 35,226 $ 33,968 $ 30,197 $ 43,508 $ 40,845 $ 38,478 Atlantic 9,133 9,057 6,093 10,535 10,458 7,429 Latin America 3,995 3,798 2,889 4,564 4,292 3,334 Pacific 2,540 2,086 1,039 3,036 2,453 1,341 Total $ 50,894 $ 48,909 $ 40,218 $ 61,643 $ 58,048 $ 50,582 Accounts Receivable Accounts receivable primarily consist of amounts due from credit card companies from the sale of passenger tickets, ancillary businesses, refinery sales and other companies for the purchase of miles under the loyalty program. We provide an allowance for uncollectible accounts using an expected credit loss model which represents our estimate of expected credit losses over the lifetime of the asset. Passenger Taxes and Fees We are required to charge certain taxes and fees on our passenger tickets, including U.S. federal transportation taxes, federal security charges, airport passenger facility charges and foreign arrival and departure taxes. These taxes and fees are assessments on the customer for which we act as a collection agent and these amounts are not included in passenger revenue. We record a liability when the amounts are collected and reduce the liability when payments are made to the applicable government agency or operating carrier (i.e., for codeshare-related fees).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. Each fair value measurement is classified into one of the following levels based on the information used in the valuation: • Level 1. Observable inputs such as quoted prices in active markets. • Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. • Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on the valuation techniques identified in the tables below. The valuation techniques are as follows: (a) Market Approach. Prices and other relevant information generated by observable transactions involving identical or comparable assets or liabilities. (b) Income Approach. Techniques to convert future amounts to a single present value amount based on market expectations (including present value techniques and option-pricing models). Assets (Liabilities) Measured at Fair Value on a Recurring Basis (1) December 31, 2024 Valuation Technique (in millions) Total Level 1 Level 2 Level 3 Cash equivalents $ 1,619 $ 1,619 $ — $ — (a) Restricted cash equivalents 351 351 — — (a) Long-term investments and related 2,372 2,085 160 127 (a)(b) Fuel hedge contracts (17) — (17) — (a)(b) December 31, 2023 Valuation Technique (in millions) Total Level 1 Level 2 Level 3 Cash equivalents $ 1,545 $ 1,545 $ — $ — (a) Restricted cash equivalents 653 653 — — (a) Short-term investments U.S. Government securities 859 204 655 — (a) Corporate obligations 218 — 218 — (a) Other fixed income securities 50 — 50 — (a) Long-term investments and related 2,867 2,614 134 119 (a)(b) Fuel hedge contracts 5 — 5 — (a)(b) (1) See Note 9, "Employee Benefit Plans," for fair value of benefit plan assets. Cash Equivalents and Restricted Cash Equivalents. Cash equivalents generally consist of money market funds. Restricted cash equivalents are recorded in other noncurrent assets and prepaid expenses and other on our balance sheets and generally consist of money market funds, time deposits, commercial paper and negotiable certificates of deposit, which primarily relate to proceeds from debt issued to finance, among other things, a portion of the construction costs for our new terminal facilities at New York's LaGuardia Airport as well as certain self-insurance obligations and airport commitments. The fair value of these cash equivalents is based on a market approach using prices generated by market transactions involving identical or comparable assets. Short-Term Investments. The fair values of our short-term investments were based on a market approach using industry standard valuation techniques that incorporate observable inputs such as quoted market prices, interest rates, benchmark curves, credit ratings of the security and other observable information. Long-Term Investments and Related. Our long-term investments measured at fair value primarily consist of equity investments, which are valued based on market prices or other observable transactions and inputs, and are recorded in equity investments on our balance sheets. Our equity investments in private companies are classified as Level 3 in the fair value hierarchy as their equity is not traded on a public exchange and our valuations incorporate certain unobservable inputs, including non-public equity issuances. Fair value measurement using unobservable inputs is inherently uncertain, and a change in significant inputs could result in different fair values. During the year ended December 31, 2024 there were no material gains or losses related to investments classified as Level 3 as a result of fair value adjustments. See Note 4, "Investments," for further information on our long-term investments. Fuel Hedge Contracts. A portion of our derivative contracts may be negotiated over-the-counter with counterparties without going through a public exchange. Accordingly, our fair value assessments give consideration to the risk of counterparty default (as well as our own credit risk). Such contracts would be classified as Level 2 within the fair value hierarchy. The remainder of our hedge contracts may be comprised of futures contracts, which are traded on a public exchange. These contracts would be classified within Level 1 of the fair value hierarchy. Our derivative contracts to hedge the financial risk from changing fuel prices are related to Monroe’s inventory. Our fuel hedge portfolio may consist of a combination of options, swaps or futures. Option and swap contracts are valued under income approaches using option pricing models and discounted cash flow models, respectively, based on data either readily observable in public markets, derived from public markets or provided by counterparties who regularly trade in public markets. Futures contracts and options on futures contracts are traded on a public exchange and valued based on quoted market prices. We recognized losses of $31 million, $6 million and $394 million on our fuel hedge contracts in aircraft fuel and related taxes on our income statement for the years ended December 31, 2024, 2023 and 2022, respectively. See Note 14, "Segments," for further information on our Monroe refinery segment.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS We have developed strategic relationships with a number of airlines and airline services companies through joint ventures and other forms of cooperation and support, including equity investments. Our equity investments reinforce our commitment to these relationships and generally enhance our ability to offer input to the investee on strategic issues and direction, in some cases through representation on the board of directors of the investee. Fair Value Investments. Changes in the valuation of investments accounted for at fair value are recorded in gain/(loss) on investments, net in our income statement within non-operating expense and are driven by changes in stock prices, foreign currency fluctuations and other valuation techniques for investments in companies without publicly-traded shares. Equity Method Investments. We record our share of our equity method investees' financial results in our income statement as described in the table below. Equity investments ownership interest and carrying value Accounting Treatment Ownership Interest Carrying Value (in millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Air France-KLM Fair Value 3 % 3 % $ 62 $ 110 China Eastern Fair Value 2 % 2 % 155 134 Grupo Aeroméxico Equity Method (1) 20 % 20 % 354 421 Hanjin-KAL Fair Value (2) 15 % 15 % 507 561 LATAM Fair Value 10 % 10 % 837 658 Unifi Aviation Equity Method (3) 49 % 49 % 146 162 Wheels Up Fair Value (4) 38 % 38 % 435 903 Other investments Various 350 508 Equity investments $ 2,846 $ 3,457 (1) Results are included in miscellaneous, net in our income statement under non-operating expense. (2) At December 31, 2024, we held 14.8% of the outstanding shares (including common and preferred), and 14.9% of the common shares, of Hanjin KAL. (3) Results are included in contracted services in our income statement as this entity is integral to the operations of our business by providing services at many of our airport locations. (4) Our voting rights with respect to Wheels Up are capped at 29.9%. We elected to account for our investment under the fair value option. Wheels Up. We concluded that Wheels Up is a variable interest entity ("VIE"). A VIE requires consolidation by the entity’s primary beneficiary. We determined that we are not the primary beneficiary after assessing the decision-making process for the significant activities of Wheels Up, concluding that Wheels Up's Board of Directors continues to possess the decision-making authority over the significant activities, and we do not control Wheels Up's Board. Based on this assessment, Wheels Up is not consolidated in our financial statements. Our investment is subject to contractual transfer restrictions until September 2025 and thereafter will remain subject to certain, more limited transfer restrictions. During the December 2024 quarter, Wheels Up entered into a five year Note Purchase Agreement with third parties which provides for the issuance of Revolving Equipment Notes in an aggregate principal amount not to exceed $332 million under a Revolving Equipment Notes Facility. We have provided credit support for the Revolving Equipment Notes Facility which effectively guarantees the Wheels Up payment obligations. As a result, and consistent with our fair value option election, we recorded the immaterial fair value of the guarantee in other noncurrent liabilities on our balance sheet. Other Investments This category includes various investments that are accounted for at fair value or under the equity method, depending on our ownership interest and the level of influence conveyed by our investment. Among others, this category includes our equity method investments in Virgin Atlantic and JFK IAT Member LLC and our fair value investment in CLEAR. Virgin Atlantic. The carrying value of our investment in Virgin Atlantic remains zero as of December 31, 2024. We maintain our 49% equity interest and continue to track our share of Virgin Atlantic's losses under the equity method of accounting. These previously unrecognized losses are only recorded to the extent we make additional investments in Virgin Atlantic (i.e., additional shareholder support). As of December 31, 2024, we have approximately $480 million of unrecognized equity method losses related to our 49% interest in Virgin Atlantic. CLEAR. In 2024, we sold in multiple transactions our equity ownership in Clear Secure, Inc. ("CLEAR"). This sale is recorded in gain/(loss) on investments, net on our income statement and cash proceeds are recorded in other, net within investing activities on our cash flows statement. JFK IAT Member LLC. We have an equity method investment in JFK IAT Member LLC, which owns JFK International Air Terminal LLC ("IAT"), our landlord at the New York-JFK Airport. We have a long-term agreement with IAT to sublease space in Terminal 4 through 2043 ("Sublease") which requires us to pay certain fixed management fees. We determined that the investment is a VIE and assessed whether we have a controlling financial interest in IAT. Our rights under the Sublease, with respect to management of Terminal 4, are consistent with rights granted to an anchor tenant under a standard airport lease. Accordingly, we do not consolidate this entity in our Consolidated Financial Statements.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill and Indefinite-Lived Intangible Assets Our goodwill and identifiable intangible assets relate to the airline segment. We apply a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis (as of October 1) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. We assess the value of our goodwill and indefinite-lived assets under either a qualitative or quantitative approach. Under a qualitative approach, we consider various market factors, including certain of the key assumptions listed below. We analyze these factors to determine if events and circumstances have affected the fair value of goodwill and indefinite-lived intangible assets. If we determine that it is more likely than not that the asset may be impaired, we use the quantitative approach to assess the asset's fair value and the amount of the impairment. Under a quantitative approach, we calculate the fair value of the asset incorporating the key assumptions listed below into our calculation. We value goodwill and indefinite-lived intangible assets primarily using market and income approach valuation techniques. These measurements include the following key assumptions (1) forecasted revenues, expenses and cash flows, (2) current discount rates, (3) observable market transactions and (4) anticipated changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals). These assumptions are consistent with those that hypothetical market participants would use. Because we are required to make estimates and assumptions when evaluating goodwill and indefinite-lived intangible assets for impairment, actual transaction amounts may differ materially from these estimates. We recognize an impairment charge if the asset's carrying value exceeds its estimated fair value. Changes in certain events and circumstances could result in impairment or a change from indefinite-lived to definite-lived. Factors which could cause impairment include, but are not limited to (1) negative trends in our market capitalization, (2) reduced profitability resulting from lower passenger mile yields or higher input costs, (3) lower passenger demand as a result of weakened U.S. and global economies or other factors, (4) prolonged interruption to our operations, (5) changes to the regulatory environment, (6) operational or performance changes by other airlines and (7) strategic changes to our operations leading to diminished utilization of the intangible assets. Identifiable Intangible Assets. Indefinite-lived assets are not amortized and consist of routes, slots, the Delta tradename and assets related to alliances and collaborative arrangements. Definite-lived intangible assets consist primarily of marketing and maintenance service agreements and are amortized on a straight-line basis or under the undiscounted cash flows method over the estimated economic life of the respective agreements. Costs incurred to renew or extend the term of an intangible asset are expensed as incurred. During the December 2024 quarter, we performed qualitative assessments of goodwill and indefinite-lived intangible assets, including applicable factors noted above, and determined that there was no indication that the assets were impaired. Our qualitative assessments include analyses and weighting of all relevant factors that impact the fair value of our goodwill and indefinite-lived intangible assets. We previously performed quantitative assessments in the December 2023 quarter, noting no impairment of goodwill or indefinite-lived intangible assets. Goodwill and indefinite-lived intangible assets by category Carrying Value at (in millions) December 31, 2024 December 31, 2023 Goodwill $ 9,753 $ 9,753 International routes and slots 2,583 2,583 Airline alliances 1,863 1,863 Delta tradename 850 850 Domestic slots 622 622 Total $ 15,671 $ 15,671 International Routes and Slots. This primarily relates to Pacific route authorities and slots at capacity-constrained airports in Asia, and slots at London-Heathrow airport. Airline Alliances. This primarily relates to our commercial agreements with LATAM and our SkyTeam partners. Domestic Slots. This primarily relates to our slots at New York-LaGuardia and Washington-Reagan National airports. Definite-Lived Intangible Assets Definite-lived intangible assets by category December 31, 2024 December 31, 2023 (in millions) Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Marketing agreements $ 730 $ (712) $ 730 $ (708) Maintenance contracts 192 (154) 192 (150) Other 54 (53) 54 (53) Total $ 976 $ (919) $ 976 $ (911) Amortization expense was $9 million for the years ended December 31, 2024, 2023 and 2022. Based on our definite-lived intangible assets at December 31, 2024, we estimate that we will incur approximately $7 million of amortization expense annually from 2025 through 2029.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The following table summarizes our debt as of the dates indicated below: Summary of outstanding debt by category Maturity Dates Interest Rate(s) Per Annum at December 31, 2024 December 31, (in millions) 2024 2023 Unsecured Payroll Support Program Loans (1) 2030 to 2031 1.00% $ 3,496 $ 3,496 Unsecured notes 2026 to 2029 3.75% to 7.38% 1,575 2,590 Financing arrangements secured by SkyMiles assets: SkyMiles Notes (2) 2025 to 2028 4.50% and 4.75% 3,970 4,518 SkyMiles Term Loan (2)(3) 2025 to 2027 8.37% 784 1,772 NYTDC Special Facilities Revenue Bonds (2) 2025 to 2045 4.00% to 6.00% 3,591 3,656 Financing arrangements secured by aircraft: Certificates (2) 2025 to 2028 2.00% to 8.00% 992 1,591 Notes (2)(3) 2025 to 2033 6.62% to 6.86% 87 165 Financing arrangements secured by slots, gates and/or routes: Senior Secured Notes 2025 7.00% 812 838 Other financings (2) 2025 to 2030 2.51% to 5.00% 66 67 Corporate Revolving Credit Facility 2026 to 2028 Undrawn — — Other revolving credit facilities (3) 2025 to 2026 Undrawn — — Total secured and unsecured debt 15,373 18,693 Unamortized (discount)/premium and debt issuance cost, net and other (26) (83) Total debt 15,347 18,610 Less: current maturities (1,801) (2,625) Total long-term debt $ 13,546 $ 15,985 (1) Interest rates on the Payroll Support Program loans are 1.00% for the first five years and the applicable SOFR plus 2.00% in the final five years. The applicable interest rates will begin to adjust for each loan in April 2025, January 2026 and April 2026. (2) Due in installments. (3) Certain financings are comprised of variable rate debt. All variable rates are equal to SOFR (generally subject to a floor) or another index rate plus a specified margin. Early Settlement of Outstanding Loans and Notes During 2024, through early principal repayments and open market repurchases, we extinguished an aggregate principal amount of $844 million related to a portion of the SkyMiles Term Loan and various secured and unsecured notes. Collectively, these payments resulted in a $39 million loss on extinguishment of debt, which is recorded in non-operating expense in our income statement. Availability Under Revolving Facilities As of December 31, 2024, we had approximately $3.1 billion undrawn and available under our revolving credit facilities. Corporate Revolving Credit Facility During the September 2024 quarter, Delta received a second investment grade credit rating, which satisfied the collateral release conditions under the Corporate Revolving Credit Facility. As a result, the liens on collateral, including our Pacific route authorities and certain related other assets, were released during 2024. Additionally, the minimum collateral coverage ratio and minimum liquidity covenants were replaced by minimum fixed charge coverage ratio and minimum asset coverage ratio covenants. Fair Value of Debt Market risk associated with our fixed- and variable-rate debt relates to the potential reduction in fair value and negative impact to future earnings, respectively, from an increase in interest rates. The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 1 or Level 2 within the fair value hierarchy. Fair value of outstanding debt (in millions) December 31, 2024 December 31, 2023 Net carrying amount $ 15,347 $ 18,610 Fair value $ 15,300 $ 18,400 Covenants Our debt agreements contain various affirmative, negative and financial covenants. For example, certain credit facilities, including our SkyMiles financing agreements, contain, among other things, a minimum liquidity covenant. The minimum liquidity covenant requires us to maintain at least $2.0 billion of liquidity (defined as cash, cash equivalents, short-term investments and aggregate principal amount committed and available to be drawn under our revolving credit facilities). Our SkyMiles financing agreements include a debt service coverage ratio and also restrict our ability to, among other things, (1) modify the terms of the SkyMiles program, or otherwise change the policies and procedures of the SkyMiles program, in a manner that would reasonably be expected to materially impair repayment of the SkyMiles Debt, (2) sell pre-paid miles in excess of $550 million in the aggregate and (3) terminate or materially modify the intercompany arrangements governing the relationship between Delta and SkyMiles IP Ltd. with respect to the SkyMiles program. Certain of our debt agreements limit our ability to (1) incur liens under certain circumstances, (2) dispose of collateral and (3) engage in mergers and consolidations or transfer all or substantially all of our assets. The notes secured by our non-Pacific slots, gates and routes are also subject to a collateral coverage ratio. Each of these restrictions is subject to certain exceptions and qualifications that are set forth in these debt agreements. We were in compliance with the covenants in our debt agreements at December 31, 2024. Future Maturities The following table summarizes scheduled maturities of our debt for the years succeeding December 31, 2024: Future debt maturities (in millions) Total Debt Amortization of Debt (Discount)/Premium and Debt Issuance Cost, net and other 2025 $ 1,798 $ (29) 2026 2,313 (3) 2027 2,133 2 2028 1,884 — 2029 621 2 Thereafter 6,624 2 Total $ 15,373 $ (26) $ 15,347

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	LEASES We lease property and equipment under finance and operating leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of the fixed minimum lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. We do not separate lease and nonlease components of contracts, except for regional aircraft and information technology ("IT") assets as discussed below. We use the rate implicit in the lease to discount lease payments to present value, when readily determinable. As the rate implicit in the lease is rarely readily determinable, we use our incremental borrowing rate, which is based on the estimated interest rate for collateralized borrowing over a similar term of the lease at commencement date. Some of our aircraft lease agreements include provisions for residual value guarantees. These guarantees represent an immaterial portion of our lease liability. Aircraft As of December 31, 2024, including aircraft operated by our regional carriers, we leased 170 aircraft, of which 55 were under finance leases and 115 were operating leases. Our aircraft leases had remaining lease terms of three months to 11 years. In addition, we have regional aircraft leases that are embedded within our capacity purchase agreements and included in the ROU asset and lease liability. We allocated the consideration in each capacity purchase agreement to the lease and nonlease components based on their relative standalone fair values. Lease components of these agreements consist of 119 aircraft as of December 31, 2024 and nonlease components primarily consist of flight operations, in-flight and maintenance services. We determined our best estimate of the standalone fair value of the individual components by considering observable information including rates paid by our wholly owned subsidiary, Endeavor Air, Inc., and rates published by independent valuation firms. See Note 10, "Commitments and Contingencies," for additional information about our capacity purchase agreements. Airport Facilities Our facility leases are primarily for space at approximately 300 airports around the world that we serve. These leases reflect our use of airport terminals, office space, cargo warehouses and maintenance facilities. We generally lease space from government agencies that control the use of the airport, and as a result, these leases are classified as operating leases. The remaining lease terms vary from one month to 29 years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually. Because of the variable nature of the rates, these leases are not recorded on our balance sheets. Some airport facilities have fixed payment schedules, the most significant of which is New York-JFK which comprises the majority of our ground and other operating right of use asset and lease liability. For those airport leases with fixed payment schedules, we have recorded a ROU asset and lease liability representing the fixed component of the lease payments. See Note 8, "Airport Redevelopment," for more information on our significant airport redevelopment projects. Other Ground Property and Equipment We lease certain IT assets (including servers, mainframes, etc.), ground support equipment (including tugs, tractors, fuel trucks and de-icers) and various other equipment. The remaining lease terms range from one month to five years. Certain leased assets are embedded within various ground and IT service agreements. For ground service contracts, we have elected to include both the lease and nonlease components in the lease asset and lease liability balances on our balance sheets. For IT service contracts, we have elected to separate the lease and nonlease components and only the lease components are included in the lease asset and lease liability balances on our balance sheets. The amounts of these lease and nonlease components are not significant. Lease Position The table below presents the lease-related assets and liabilities recorded on the balance sheets. Lease asset and liability balance sheet position by category December 31, (in millions) Classification on the Balance Sheets 2024 2023 Assets Operating lease assets - Fleet (1) Operating lease right-of-use assets $ 2,910 $ 3,420 Operating lease assets - Ground and other Operating lease right-of-use assets 3,734 3,584 Finance lease assets Property and equipment, net 825 1,338 Total lease assets $ 7,469 $ 8,342 Liabilities Current Operating - Fleet (1) Current maturities of operating leases $ 551 $ 552 Operating - Ground and other Current maturities of operating leases 212 207 Finance Current maturities of debt and finance leases 374 358 Noncurrent Operating - Fleet (1) Noncurrent operating leases 2,627 3,226 Operating - Ground and other Noncurrent operating leases 3,187 3,242 Finance Debt and finance leases 473 1,086 Total lease liabilities $ 7,424 $ 8,671 Weighted-average remaining lease term Operating leases 12 years 13 years Finance leases 3 years 4 years Weighted-average discount rate Operating leases 4.28 % 3.73 % Finance leases 3.53 % 3.12 % (1) Includes mainline and regional aircraft leases, regional aircraft leases embedded within our capacity purchase arrangements and engine leases. The interest portion of straight-line rent expense related to fleet operating leases was $165 million and $189 million during the years ended December 31, 2024 and 2023, respectively. Lease Costs The table below presents certain information related to the lease costs for finance and operating leases. Lease cost by category Year Ended December 31, (in millions) 2024 2023 2022 Finance lease cost Amortization of leased assets $ 88 $ 109 $ 120 Interest of lease liabilities 54 42 45 Operating lease cost (1) 974 981 949 Short-term lease cost (1) 206 258 281 Variable lease cost (1) 2,902 2,230 1,859 Total lease cost $ 4,224 $ 3,620 $ 3,254 (1) Expenses are primarily classified within aircraft rent, landing fees and other rents and regional carrier expense on our income statement. Other Information The table below presents supplemental cash flow information related to leases. Supplemental lease-related cash flow information Year Ended December 31, (in millions) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 1,225 $ 1,230 $ 809 Operating cash flows for finance leases 56 71 49 Financing cash flows for finance leases 190 264 363 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets. Future lease cash flows and reconciliation to the balance sheet (in millions) Operating Leases Finance Leases 2025 $ 993 $ 395 2026 917 90 2027 880 268 2028 781 40 2029 620 28 Thereafter 4,183 76 Total minimum lease payments 8,374 897 Less: amount of lease payments representing interest (1,797) (50) Present value of future minimum lease payments 6,577 847 Less: current obligations under leases (763) (374) Long-term lease obligations $ 5,814 $ 473
LEASES	LEASES We lease property and equipment under finance and operating leases. For leases with terms greater than 12 months, we record the related asset and obligation at the present value of the fixed minimum lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when appropriate. We do not separate lease and nonlease components of contracts, except for regional aircraft and information technology ("IT") assets as discussed below. We use the rate implicit in the lease to discount lease payments to present value, when readily determinable. As the rate implicit in the lease is rarely readily determinable, we use our incremental borrowing rate, which is based on the estimated interest rate for collateralized borrowing over a similar term of the lease at commencement date. Some of our aircraft lease agreements include provisions for residual value guarantees. These guarantees represent an immaterial portion of our lease liability. Aircraft As of December 31, 2024, including aircraft operated by our regional carriers, we leased 170 aircraft, of which 55 were under finance leases and 115 were operating leases. Our aircraft leases had remaining lease terms of three months to 11 years. In addition, we have regional aircraft leases that are embedded within our capacity purchase agreements and included in the ROU asset and lease liability. We allocated the consideration in each capacity purchase agreement to the lease and nonlease components based on their relative standalone fair values. Lease components of these agreements consist of 119 aircraft as of December 31, 2024 and nonlease components primarily consist of flight operations, in-flight and maintenance services. We determined our best estimate of the standalone fair value of the individual components by considering observable information including rates paid by our wholly owned subsidiary, Endeavor Air, Inc., and rates published by independent valuation firms. See Note 10, "Commitments and Contingencies," for additional information about our capacity purchase agreements. Airport Facilities Our facility leases are primarily for space at approximately 300 airports around the world that we serve. These leases reflect our use of airport terminals, office space, cargo warehouses and maintenance facilities. We generally lease space from government agencies that control the use of the airport, and as a result, these leases are classified as operating leases. The remaining lease terms vary from one month to 29 years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually. Because of the variable nature of the rates, these leases are not recorded on our balance sheets. Some airport facilities have fixed payment schedules, the most significant of which is New York-JFK which comprises the majority of our ground and other operating right of use asset and lease liability. For those airport leases with fixed payment schedules, we have recorded a ROU asset and lease liability representing the fixed component of the lease payments. See Note 8, "Airport Redevelopment," for more information on our significant airport redevelopment projects. Other Ground Property and Equipment We lease certain IT assets (including servers, mainframes, etc.), ground support equipment (including tugs, tractors, fuel trucks and de-icers) and various other equipment. The remaining lease terms range from one month to five years. Certain leased assets are embedded within various ground and IT service agreements. For ground service contracts, we have elected to include both the lease and nonlease components in the lease asset and lease liability balances on our balance sheets. For IT service contracts, we have elected to separate the lease and nonlease components and only the lease components are included in the lease asset and lease liability balances on our balance sheets. The amounts of these lease and nonlease components are not significant. Lease Position The table below presents the lease-related assets and liabilities recorded on the balance sheets. Lease asset and liability balance sheet position by category December 31, (in millions) Classification on the Balance Sheets 2024 2023 Assets Operating lease assets - Fleet (1) Operating lease right-of-use assets $ 2,910 $ 3,420 Operating lease assets - Ground and other Operating lease right-of-use assets 3,734 3,584 Finance lease assets Property and equipment, net 825 1,338 Total lease assets $ 7,469 $ 8,342 Liabilities Current Operating - Fleet (1) Current maturities of operating leases $ 551 $ 552 Operating - Ground and other Current maturities of operating leases 212 207 Finance Current maturities of debt and finance leases 374 358 Noncurrent Operating - Fleet (1) Noncurrent operating leases 2,627 3,226 Operating - Ground and other Noncurrent operating leases 3,187 3,242 Finance Debt and finance leases 473 1,086 Total lease liabilities $ 7,424 $ 8,671 Weighted-average remaining lease term Operating leases 12 years 13 years Finance leases 3 years 4 years Weighted-average discount rate Operating leases 4.28 % 3.73 % Finance leases 3.53 % 3.12 % (1) Includes mainline and regional aircraft leases, regional aircraft leases embedded within our capacity purchase arrangements and engine leases. The interest portion of straight-line rent expense related to fleet operating leases was $165 million and $189 million during the years ended December 31, 2024 and 2023, respectively. Lease Costs The table below presents certain information related to the lease costs for finance and operating leases. Lease cost by category Year Ended December 31, (in millions) 2024 2023 2022 Finance lease cost Amortization of leased assets $ 88 $ 109 $ 120 Interest of lease liabilities 54 42 45 Operating lease cost (1) 974 981 949 Short-term lease cost (1) 206 258 281 Variable lease cost (1) 2,902 2,230 1,859 Total lease cost $ 4,224 $ 3,620 $ 3,254 (1) Expenses are primarily classified within aircraft rent, landing fees and other rents and regional carrier expense on our income statement. Other Information The table below presents supplemental cash flow information related to leases. Supplemental lease-related cash flow information Year Ended December 31, (in millions) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 1,225 $ 1,230 $ 809 Operating cash flows for finance leases 56 71 49 Financing cash flows for finance leases 190 264 363 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets. Future lease cash flows and reconciliation to the balance sheet (in millions) Operating Leases Finance Leases 2025 $ 993 $ 395 2026 917 90 2027 880 268 2028 781 40 2029 620 28 Thereafter 4,183 76 Total minimum lease payments 8,374 897 Less: amount of lease payments representing interest (1,797) (50) Present value of future minimum lease payments 6,577 847 Less: current obligations under leases (763) (374) Long-term lease obligations $ 5,814 $ 473

AIRPORT REDEVELOPMENT

AIRPORT REDEVELOPMENT	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
AIRPORT REDEVELOPMENT	AIRPORT REDEVELOPMENT Los Angeles International Airport ("LAX") In 2023, we substantially completed all construction for the LAX upgrade and modernization project that consolidates Terminals 2 and 3, as well as connects these terminals to the Tom Bradley International Terminal. The project cost approximately $2.5 billion. A substantial majority of the project costs were funded through the Regional Airports Improvement Corporation ("RAIC"), a California public benefit corporation, using a revolving credit facility provided by a group of lenders. The credit facility was executed in 2017 and we have guaranteed the obligations of the RAIC under the credit facility. Loans made under the credit facility are being repaid with the proceeds from the City of Los Angeles' (the "City") purchase of completed project assets. Under the lease agreement and subsequent project component approvals by the City's Board of Airport Commissioners, the City appropriated approximately $1.8 billion to purchase completed project assets, representing the maximum allowable reimbursement by the City. Costs incurred in excess of the $1.8 billion maximum were not reimbursed by the City. Our net project costs were approximately $700 million, of which approximately $350 million has been reflected as investing activities and approximately $350 million as operating activities in our cash flows statement since the project started in 2017. Based on our assessment of the project, we concluded that we do not control the underlying assets being constructed, and therefore, we do not have the project asset or related obligation recorded on our balance sheets, except for certain assets recorded as leasehold improvements within property and equipment, net on our balance sheets. We have recorded approximately $350 million as a ROU asset on our balance sheets related to certain costs incurred in excess of RAIC funding, though we have not recognized a ROU asset and lease liability on our balance sheets for the variable lease payments in our agreement with the City. See Note 7, "Leases" for more information on our ROU assets and lease liabilities. New York-LaGuardia Airport In 2024, we substantially completed all construction for the replacement of Terminals C and D of the New York-LaGuardia Airport with a new state-of-the-art terminal facility. The project cost approximately $4.2 billion and was funded through debt issuance, existing cash and a Port Authority contribution of approximately $500 million. We entered into loan agreements to fund a portion of the construction, which are recorded on our balance sheets as debt with the proceeds reflected as restricted cash. Using funding primarily provided by these arrangements, we spent approximately $300 million, $500 million and $650 million during 2024, 2023 and 2022, respectively. Based on our assessment of the project, we concluded that we did not control the underlying assets being constructed. Costs incurred by Delta are accounted for as leasehold improvements recorded in property and equipment, net on our balance sheets. See Note 6, "Debt," for additional information on the debt (NYTDC Special Facilities Revenue Bonds) related to this redevelopment project.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS We sponsor defined benefit and defined contribution pension plans, healthcare plans and disability and survivorship plans for eligible employees and retirees and their eligible family members. Defined Benefit Pension Plans. We sponsor defined benefit pension plans for eligible employees and retirees. These plans are generally closed to new entrants and frozen for future benefit accruals. Our funding obligations for qualified defined benefit plans are governed by the Employee Retirement Income Security Act and any additional applicable legislation. Under current legislation, any required funding would be amortized over a rolling 15-year period and calculated using a discount rate of no less than 4.75% through 2030. We estimate that there will be approximately $80 million of minimum funding requirements under these plans in 2025. We also sponsor a market based cash balance defined benefit pension plan for eligible pilots that is funded by company contributions in excess of IRS limits in the 401(k) plan. We fund this plan with cash contributions as benefits are earned and invest those assets. The participants’ benefit is the sum of the contributions made on their behalf plus any positive return on the invested contributions. In estimating the related benefit obligation and net benefit cost, the expected long-term rate of return on plan assets is used in determining the interest crediting rate. Defined Contribution Pension Plans. We sponsor several defined contribution plans. These plans generally cover different employee groups and employer contributions vary by plan. The costs associated with our defined contribution pension plans were approximately $1.3 billion, $1.2 billion and $1.0 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Postretirement Healthcare Plans. We sponsor healthcare plans that provide benefits to eligible retirees and their dependents who are under age 65. We have generally eliminated company-paid post age 65 healthcare coverage, except for (1) subsidies available to a limited group of retirees and their dependents, (2) a group of retirees who retired prior to 1987 and (3) retiree medical accounts which provide a fixed dollar amount to eligible employees who retired under the 2012 voluntary workforce reduction programs or the 2020 voluntary early retirement and separation programs ("voluntary programs"). Postemployment Plans. We provide certain other welfare benefits to eligible former or inactive employees after employment but before retirement, primarily as part of the disability and survivorship plans. Substantially all employees are eligible for benefits under these plans in the event of death and/or disability. Benefits under our postretirement and post employment plans are funded from current assets and employee contributions. Benefit Obligations, Fair Value of Plan Assets and Funded Status Pension Benefits December 31, Other Postretirement and Postemployment Benefits December 31, (in millions) 2024 2023 2024 2023 Benefit obligation at beginning of period $ 15,911 $ 15,811 $ 3,503 $ 3,664 Service cost (1) 233 95 92 71 Interest cost 820 855 182 200 Actuarial (gain)/loss (738) 351 (50) 24 Benefits paid, including lump sums and annuities (1,259) (1,201) (497) (485) Plan amendments — — — 11 Participant contributions — — 30 18 Special termination benefits — — 5 — Benefit obligation at end of period (2) $ 14,967 $ 15,911 $ 3,265 $ 3,503 Fair value of plan assets at beginning of period $ 15,766 $ 15,721 $ 33 $ 71 Actual gain on plan assets 1,142 1,142 (7) 3 Employer contributions 256 104 468 426 Participant contributions — — 30 18 Benefits paid, including lump sums and annuities (1,259) (1,201) (497) (485) Fair value of plan assets at end of period $ 15,905 $ 15,766 $ 27 $ 33 Funded status at end of period $ 938 $ (145) $ (3,238) $ (3,470) (1) Service cost shown above relates to the market based cash balance plan. There is no service cost associated with traditional frozen defined benefit plans. (2) At the end of each year presented, our accumulated benefit obligations for our pension plans are equal to the benefit obligations shown above. During 2024, net actuarial gains decreased our benefit obligation primarily due to the increase in discount rates while net actuarial losses increased our benefit obligation primarily due to the decrease in discount rates during 2023. These gains and losses are recorded in AOCI and reflected in the table below. Amounts are generally amortized from AOCI over the expected future lifetime of plan participants. Balance Sheet Position Pension Benefits December 31, Other Postretirement and Postemployment Benefits December 31, (in millions) 2024 2023 2024 2023 Other noncurrent assets $ 1,005 $ 22 $ — $ — Current liabilities (9) (9) (430) (404) Noncurrent liabilities (58) (158) (2,808) (3,066) Funded status at end of period $ 938 $ (145) $ (3,238) $ (3,470) Net actuarial loss $ (5,407) $ (6,474) $ (103) $ (162) Prior service credit — — (3) 1 Total accumulated other comprehensive loss, pre-tax $ (5,407) $ (6,474) $ (106) $ (161) Certain pension plans have benefit obligations in excess of plan assets. These plans have aggregate projected benefit obligations of $67 million and are unfunded at December 31, 2024. Net Periodic Cost/(Benefit) Pension Benefits Year Ended December 31, Other Postretirement and Postemployment Benefits Year Ended December 31, (in millions) 2024 2023 2022 2024 2023 2022 Service cost (1) $ 233 $ 95 $ — $ 92 $ 71 $ 70 Interest cost 820 855 611 182 200 128 Expected return on plan assets (1,062) (1,060) (1,319) (2) (1) (17) Amortization of prior service credit — — — (4) (5) (5) Recognized net actuarial loss 248 240 255 18 14 56 Special termination benefits — — — 5 — — Net periodic cost/(benefit) $ 239 $ 130 $ (453) $ 291 $ 279 $ 232 (1) Service cost shown above relates to the market based cash balance plan. There is no service cost associated with traditional frozen defined benefit plans. Service cost is recorded in salaries and related costs in the income statement, while all other components are recorded within miscellaneous, net under non-operating expense. Assumptions We used the following actuarial assumptions to determine our benefit obligations and our net periodic cost/(benefit) for the periods presented: December 31, Benefit Obligations (1) 2024 2023 Weighted average discount rate 5.71 % 5.31 % Year Ended December 31, Net Periodic Cost/(Benefit) (1) 2024 2023 2022 Weighted average discount rate 5.33 % 5.59 % 2.96 % Weighted average expected long-term rate of return on plan assets 6.97 % 7.00 % 7.00 % Assumed healthcare cost trend rate for the next year (2) 6.50 % 6.25 % 6.50 % (1) Future employee compensation levels do not impact our frozen defined benefit pension plans or other postretirement plans and impact only a small portion of our other postemployment obligation. (2) Healthcare cost trend rate is assumed to decline gradually to 5.00% by 2033 and remain unchanged thereafter. Expected Long-Term Rate of Return. Our expected long-term rate of return on plan assets is based primarily on plan-specific investment studies using historical market return and volatility data. Modest excess return expectations versus some public market indices are incorporated into the return projections based on the actively managed structure of the investment programs and their records of achieving such returns historically. We also expect to receive a premium for investing in less liquid private markets. We review our rate of return on plan assets assumptions annually. Our annual investment performance for one particular year does not, by itself, significantly influence our evaluation. The investment strategy for our defined benefit pension plan assets is to earn a long-term return that meets or exceeds our annualized return target while taking an acceptable level of risk and maintaining sufficient liquidity to pay current benefits and other cash obligations of the plan. This is achieved by investing in a globally diversified mix of public and private equity, fixed income, real assets, hedge funds and other assets and instruments. Our weighted average expected long-term rate of return on assets for net periodic cost/(benefit) for the year ended December 31, 2024 was 6.97%. Life Expectancy. Changes in life expectancy may significantly impact our benefit obligations and future net periodic cost/(benefit). Each year we review information published by the Society of Actuaries and other publicly available information to develop our best estimate of life expectancy for purposes of measuring pension and other postretirement and postemployment benefit obligations. Benefit Payments Benefit payments in the table below are based on the same assumptions used to measure the related benefit obligations. Actual benefit payments may vary significantly from these estimates. Benefits earned under our pension plans are expected to be paid from funded benefit plan trusts, while our other postretirement and postemployment benefits are funded from current assets. The following table summarizes the benefit payments that are expected to be paid in the years ending December 31: Expected future benefit payments (in millions) Pension Benefits Other Postretirement and Postemployment Benefits 2025 $ 1,330 $ 470 2026 1,350 470 2027 1,360 490 2028 1,350 500 2029 1,350 510 2030-2034 6,630 2,590 Plan Assets We have adopted and implemented investment policies for our defined benefit pension plans that incorporate strategic asset allocation mixes intended to best meet the plans' long-term obligations, while maintaining an appropriate level of risk and liquidity. These asset portfolios employ a diversified mix of investments, which are reviewed periodically. Active management strategies are utilized where feasible in an effort to realize investment returns in excess of market indices. Derivatives in the plans are primarily used to manage risk and gain asset class exposure while preserving liquidity. As part of these strategies, the plans are required to hold cash collateral associated with certain derivatives. Our investment strategies target a mix of 20-40% growth-seeking assets, 25-35% income-generating assets and 35-45% risk-diversifying assets. Risk diversifying assets include hedge funds implementing long-short, market neutral and relative value strategies that invest primarily in publicly-traded equity, fixed income, foreign currency and commodity securities and are used to improve the impact of active management on the plans. Benefit Plan Assets Measured at Fair Value on a Recurring Basis Benefit plan assets relate to our defined benefit pension plans and certain of our postemployment benefit plans. These investments are presented net of the related benefit obligation in either other noncurrent assets or pension, postretirement and related benefits on the balance sheets depending on the funded status of each plan. See Note 3, "Fair Value Measurements," for a description of the levels within the fair value hierarchy and associated valuation techniques used to measure fair value. The following table shows our benefit plan assets by asset class. Benefit plan assets measured at fair value on a recurring basis December 31, 2024 December 31, 2023 Valuation Technique (in millions) Level 1 Level 2 Total Level 1 Level 2 Total Fixed income and fixed income-related instruments $ 85 $ 1,080 $ 1,165 $ 300 $ 1,858 $ 2,158 (a)(b) Cash equivalents 330 138 468 471 685 1,156 (a) Equities and equity-related instruments 978 3 981 647 122 769 (a) Delta common stock 595 — 595 419 — 419 (a) Real assets — 25 25 11 236 247 (a) Benefit plan assets $ 1,988 $ 1,246 $ 3,234 $ 1,848 $ 2,901 $ 4,749 Investments measured at net asset value ("NAV") (1) 12,438 11,417 Total benefit plan assets $ 15,672 $ 16,166 (1) Investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. Fixed Income and Fixed Income-Related Instruments. These investments include corporate bonds, government bonds, collateralized mortgage obligations and other asset-backed securities, and are generally valued at the bid price or the average of the bid and ask price. Prices are based on pricing models, quoted prices of securities with similar characteristics or broker quotes. Fixed income-related instruments include investments in securities traded on exchanges, including listed futures and options, which are valued at the last reported sale prices on the last business day of the year, or if not available, the last reported bid prices. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable, generally broker quotes. Cash Equivalents. These investments primarily consist of high-quality, short-term obligations that are a part of institutional money market mutual funds that are valued using current market quotations or an appropriate substitute that reflects current market conditions. Equities and Equity-Related Instruments. These investments include common stock and equity-related instruments. Common stock is valued at the closing price reported on the active market on which the individual securities are traded. Equity-related instruments include investments in securities traded on exchanges, including listed futures and options, which are valued at the last reported sale prices on the last business day of the year or, if not available, the last reported bid prices. Over-the-counter securities are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable, generally broker quotes. Delta Common Stock. The Delta common stock investment is managed by an independent fiduciary. Real Assets. These investments include commodities such as precious metals and precious metals-related instruments, some of which are valued at the closing price reported on the active market on which the individual instruments are traded, while others are priced based on pricing models, quoted prices of securities with similar characteristics or broker quotes. The following table summarizes investments measured at fair value based on NAV per share as a practical expedient: Benefit plan investment assets measured at NAV December 31, 2024 December 31, 2023 (in millions) Fair Value Redemption Frequency Redemption Notice Period Fair Value Redemption Frequency Redemption Notice Period Hedge funds and hedge fund-related strategies $ 6,519 (1) 15-180 Days $ 6,175 (1) 7-180 Days Commingled funds, private equity and private equity-related instruments (4) 2,351 (1) (2) 2-45 Days 2,279 (1) (2) 2-45 Days Fixed income and fixed income-related instruments (4) 1,427 (1) (2) 1-180 Days 1,147 (1) (2) 1-180 Days Real assets (4) 979 (2) N/A 893 (2) N/A Balanced allocation 349 (5) 0 Days 100 (5) 0 Days Other 813 (3) 2-10 Days 823 (3) 2-10 Days Total investments measured at NAV $ 12,438 $ 11,417 (1) Various. Includes funds with monthly or more frequent, quarterly and/or custom redemption frequencies as well as funds with a redemption window following the anniversary of the initial investment. (2) Includes private funds that are closed-ended structures in which the plans' investments are generally not eligible for redemption. (3) Includes funds with monthly or more frequent redemptions. (4) Unfunded commitments were $1.3 billion for commingled funds, private equity and private equity-related instruments, $287 million for fixed income and fixed income-related instruments and $618 million for real assets at December 31, 2024. (5) Includes funds with daily redemptions. On an annual basis we assess the potential for adjustments to the fair value of all investments. Due to a lag in the availability of data for certain of these investments (this primarily applies to private equity, private equity-related strategies and real assets), we solicit valuation updates from the investment fund managers and use their information and corroborating data from public markets to determine any needed fair value adjustments. Hedge Funds and Hedge Fund-Related Strategies. These investments are primarily made through shares of limited partnerships or similar structures for which a liquid secondary market does not exist. Commingled Funds, Private Equity and Private Equity-Related Instruments. These investments include commingled funds invested in common stock, as well as private equity and private equity-related instruments. Commingled funds are valued based on quoted market prices of the underlying assets owned by the fund. Private equity and private equity-related instruments are typically valued quarterly by the fund managers using valuation models where one or more of the significant inputs into the model cannot be observed and which require the development of assumptions. Fixed Income and Fixed Income-Related Instruments. These investments include private fixed income instruments that are typically valued monthly or quarterly by the fund managers or third-party valuation agents using valuation models where one or more of significant inputs into the model cannot be observed and which require the development of assumptions. Real Assets. These investments include real estate, energy, timberland, agriculture and infrastructure. The valuation of real assets requires significant judgment due to the absence of quoted market prices as well as the inherent lack of liquidity and the long-term nature of these assets. Real assets are typically valued quarterly by the fund managers using valuation models where one or more of the significant inputs into the model cannot be observed and which require the development of assumptions . Balanced Allocation. The investments include commingled funds invested in common stock and fixed income instruments. Commingled funds are valued based on quoted market prices of the underlying assets owned by the fund. Other. Primarily includes globally-diversified, risk-managed commingled funds consisting mainly of equity, fixed income and commodity exposures. Other We also sponsor defined benefit pension plans for eligible employees in certain foreign countries. These plans did not have a material impact on our Consolidated Financial Statements in any period presented. Profit Sharing Program Our broad-based employee profit sharing program provides that, for each year in which we have an annual pre-tax profit, as defined by the terms of the program, we will pay a specified portion of that profit to employees. In determining the amount of profit sharing, the program defines profit as pre-tax profit adjusted for profit sharing and certain other items. For both the years ended December 31, 2024 and 2023, we recorded profit sharing expense of $1.4 billion under the program.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Aircraft Purchase Commitments Our future aircraft purchase commitments totaled approximately $18.3 billion at December 31, 2024: Aircraft purchase commitments (1) (in millions) Total 2025 $ 3,340 2026 5,020 2027 4,430 2028 3,880 2029 1,250 Thereafter 370 Total $ 18,290 (1) The timing of these commitments is based on our contractual agreements with the aircraft manufacturers and remains uncertain due to supply chain, manufacturing and regulatory constraints. Our future aircraft purchase commitments included the following aircraft at December 31, 2024: Aircraft purchase commitments by fleet type Fleet Type Purchase Commitments A220-300 72 A321-200neo 86 A330-900neo 7 A350-900 9 A350-1000 20 B-737-10 100 Total 294 Aircraft Orders During 2024, we entered into a purchase agreement with Airbus for 20 A350-1000 aircraft, with an option to purchase an additional 20 widebody aircraft. Deliveries of these aircraft are scheduled to begin in 2026. Also during 2024 we amended our purchase agreement with Boeing and received an updated delivery schedule for our Boeing 737-10 orders. Contract Carrier Agreements We have contract carrier agreements with regional carriers expiring through 2034. These agreements are structured as either capacity purchase or revenue proration agreements. Capacity Purchase Agreements. Our contractual agreements with regional carriers are primarily capacity purchase arrangements, under which we control the scheduling, pricing, reservations, ticketing and seat inventories for the regional carriers' flights operating under our "DL" designator code. We are entitled to all ticket, cargo, mail, in-flight and ancillary revenues associated with the flights under these capacity purchase arrangements. We pay those airlines an amount, as defined in the applicable agreement, which is based on a determination of their cost of operating those flights and other factors intended to approximate market rates for those services. The following table shows our minimum obligations at December 31, 2024 under our existing capacity purchase agreements with third-party regional carriers, excluding contract carrier payments accounted for as leases of aircraft, which are described in Note 7, "Leases." The obligations set forth in the table contemplate minimum levels of flying by the regional carriers under the respective agreements and also reflect assumptions regarding certain costs associated with the minimum levels of flying such as the cost of fuel, labor, maintenance, insurance, catering, property tax and landing fees. Accordingly, our actual payments under these agreements could differ materially from the minimum fixed obligations set forth in the table below. Contract carrier minimum obligations (in millions) Amount 2025 $ 1,750 2026 1,650 2027 1,590 2028 1,290 2029 710 Thereafter 680 Total $ 7,670 Legal Contingencies We are involved in various legal proceedings related to employment practices, environmental issues, commercial disputes, antitrust and other regulatory matters concerning our business. We record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount of loss can be reasonably estimated. Although the outcome of the legal proceedings in which we are involved cannot be predicted with certainty, we believe that the resolution of current matters will not have a material adverse effect on our Consolidated Financial Statements. Credit Card Processing Agreements Our VISA/MasterCard and American Express credit card processing agreements provide that no cash reserve ("Reserve") is required, and no withholding of payment related to receivables collected will occur, except in certain circumstances, including when we do not maintain a required level of liquidity as outlined in the merchant processing agreements. In circumstances in which the credit card processor can establish a Reserve or withhold payments, the amount of the Reserve or payments that may be withheld would be equal to the potential liability of the credit card processor for tickets purchased with VISA/MasterCard or American Express credit cards, as applicable, that had not yet been used for travel. We did not have a Reserve or an amount withheld as of December 31, 2024 or 2023. Other Contingencies General Indemnifications We are the lessee under many commercial real estate leases. It is common in these transactions for us, as the lessee, to agree to indemnify the lessor and the lessor's related parties for tort, environmental and other liabilities that arise out of or relate to our use or occupancy of the leased premises. This type of indemnity would typically make us responsible to indemnified parties for liabilities arising out of the conduct of, among others, contractors, licensees and invitees at, or in connection with, the use or occupancy of the leased premises. This indemnity often extends to related liabilities arising from the negligence of the indemnified parties, but usually excludes any liabilities caused by either their sole or gross negligence or their willful misconduct. Our aircraft and other equipment lease and financing agreements typically contain provisions requiring us, as the lessee or obligor, to indemnify the other parties to those agreements, including certain of those parties' related persons, against virtually any liabilities that might arise from the use or operation of the aircraft or other equipment. We believe that our insurance would cover most of our exposure to liabilities and related indemnities associated with the commercial real estate leases and aircraft and other equipment lease and financing agreements described above. While our insurance does not typically cover environmental liabilities, we have insurance policies in place as required by applicable environmental laws. Some of our aircraft and other financing transactions include provisions that require us to make payments to preserve an expected economic return to the lenders if that economic return is diminished due to specified changes in law or regulations. In some of these financing transactions, we also bear the risk of changes in tax laws that would subject payments to non-U.S. lenders to withholding taxes. We cannot reasonably estimate our potential future payments under the indemnities and related provisions described above because we cannot predict (1) when and under what circumstances these provisions may be triggered and (2) the amount that would be payable if the provisions were triggered because the amounts would be based on facts and circumstances existing at such time. Employees Under Collective Bargaining Agreements As of December 31, 2024, we had approximately 103,000 full-time equivalent employees, approximately 20% of whom were represented by unions. Domestic airline employees represented by collective bargaining agreements by group Employee Group Approximate Number of Employees Represented Union Date on which Collective Bargaining Agreement Becomes Amendable Delta Pilots 17,380 ALPA December 31, 2026 Delta Flight Superintendents (Dispatchers) (1) 500 PAFCA November 1, 2024 Endeavor Pilots 1,540 ALPA January 1, 2029 Endeavor Flight Attendants 1,700 AFA March 31, 2027 (1) We are in discussions with representatives of PAFCA regarding terms of the collective bargaining agreement that became amendable on November 1, 2024. In addition to the domestic airline employee groups discussed above, approximately 200 refinery employees of our wholly owned subsidiary Monroe are represented by the United Steel Workers under an agreement that expires on February 28, 2026. This agreement is governed by the National Labor Relations Act, which generally allows either party to engage in self-help upon the expiration of the agreement. Certain of our employees outside the U.S. are represented by unions, work councils or other local representative groups. Other We have certain contracts for goods and services that require us to pay a penalty, acquire inventory specific to us or purchase contract-specific equipment, as defined by each respective contract, if we terminate the contract without cause prior to its expiration date. Because these obligations are contingent on our termination of the contract without cause prior to its expiration date, no obligation would exist unless such a termination occurs.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income Tax Provision Components of income tax provision Year Ended December 31, (in millions) 2024 2023 2022 Current tax provision: Federal $ — $ — $ — State and local (35) (8) (1) International (11) (11) (4) Deferred tax (provision) benefit: Federal (1,038) (896) (525) State and local (117) (84) (66) Income tax provision $ (1,201) $ (999) $ (596) The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal statutory income tax rate: Reconciliation of statutory federal income tax rate to the effective income tax rate Year Ended December 31, 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 2.6 2.0 3.0 Permanent differences 1.0 0.7 1.0 Valuation allowance 1.9 (5.0) 7.3 Other (0.7) (0.9) (1.1) Effective income tax rate 25.8 % 17.8 % 31.2 % Deferred Taxes We account for deferred income taxes under the asset and liability method. We recognize deferred tax assets and liabilities based on the tax effects of temporary differences between the financial statement and tax basis of assets and liabilities, as measured by current enacted tax rates. Deferred tax assets and liabilities are net by jurisdiction and are recorded as noncurrent on the balance sheets. We have elected to recognize global intangible low tax income in the period it arises and do not recognize deferred taxes for basis differences that may reverse in future years. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. Significant components of deferred income tax assets and liabilities December 31, (in millions) 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 799 $ 1,217 Capital loss carryforward — 8 Pension, postretirement and other benefits 1,205 1,488 Investments 936 806 Deferred revenue 2,158 2,110 Lease liabilities 2,816 2,193 Other 608 709 Valuation allowance (951) (877) Total deferred tax assets $ 7,571 $ 7,654 Deferred tax liabilities: Depreciation $ 7,040 $ 5,570 Operating lease assets 1,369 1,533 Intangible assets 1,165 1,143 Other 78 73 Total deferred tax liabilities $ 9,652 $ 8,319 Balance Sheet Position: Other noncurrent assets $ 95 $ 243 Deferred income taxes, net 2,176 908 Net deferred tax liabilities $ 2,081 $ 665 Valuation Allowance A valuation allowance is recorded to reduce deferred tax assets when necessary. We periodically assess whether it is more likely than not that we will generate sufficient taxable income to realize our deferred income tax assets. We establish valuation allowances if it is more likely than not that we will be unable to realize our deferred income tax assets. In making this determination, we consider available positive and negative evidence and make certain assumptions. We consider, among other things, projected future taxable income, scheduled reversals of deferred tax liabilities, the overall business environment, our historical financial results and tax planning strategies. At December 31, 2024 our net deferred tax liability balance was $2.1 billion, including a $951 million valuation allowance primarily related to certain net realized and unrealized capital losses and certain state net operating losses. As of December 31, 2024, we had approximately $2.7 billion of U.S. federal pre-tax net operating loss carryforwards which we are expecting to utilize during 2025. These net operating loss carryforwards were primarily generated in 2020 and do not expire. Therefore, we have not recorded a valuation allowance on our deferred tax assets other than the certain net realized and unrealized capital losses and certain state net operating losses that have short expiration periods. The following table presents the balance of our valuation allowance on our deferred income tax assets and the associated activity: Valuation allowance activity (in millions) 2024 2023 Balance at January 1 $ 877 $ 1,176 Tax provision 74 (299) Balance at December 31 $ 951 $ 877 Other The amount of, and changes to, our uncertain tax positions were not material in any of the years presented. We are currently under audit by the IRS for the 2024 and 2023 tax years.

EQUITY AND EQUITY COMPENSATION

EQUITY AND EQUITY COMPENSATION	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
EQUITY AND EQUITY COMPENSATION	EQUITY AND EQUITY COMPENSATION Equity We are authorized to issue 2.0 billion shares of capital stock, of which up to 1.5 billion may be shares of common stock, par value $0.0001 per share, and up to 500 million may be shares of preferred stock. Preferred Stock. We may issue preferred stock in one or more series. The Board of Directors is authorized (1) to fix the descriptions, powers (including voting powers), preferences, rights, qualifications, limitations and restrictions with respect to any series of preferred stock and (2) to specify the number of shares of any series of preferred stock. We have not issued any preferred stock. Treasury Stock. We generally withhold shares of Delta common stock to cover employees' portion of required tax withholdings when employee equity awards vest. These shares are valued at cost, which equals the market price of the common stock on the date of vesting. The weighted average cost per share held in treasury was $31.06 and $30.37 as of December 31, 2024 and 2023, respectively. Warrants. During 2020 and 2021, in connection with the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the "CARES Act") payroll support program ("PSP") and extensions, we issued warrants to the U.S Department of the Treasury to acquire more than 11.1 million s hares of Delta common stock, which have subsequently been sold to a third party. The number of warrants outstanding slightly increased and the exercise price of the warrants slightly decreased since December 31, 2023 due to adjustments resulting from dividend payments during 2024. Key terms under each program as of December 31, 2024 are as follows: Summary of payroll support program warrants (in millions, except exercise price) Number of Warrants Exercise Price Expiration Year Payroll Support Program (PSP1) 6.9 $ 23.99 2025 Payroll Support Program Extension (PSP2) 2.4 39.11 2026 Payroll Support Program 3 (PSP3) 1.9 47.05 2026 Total 11.2 Equity Compensation Our broad-based equity and cash compensation plan provides for grants of restricted stock, restricted stock units, stock options, performance awards, including cash incentive awards and other equity-based awards (the "Plan"). Shares of common stock issued under the Plan may be made available from authorized, but unissued, common stock or common stock we acquire. If any shares of our common stock are covered by an award that expires, is canceled, forfeited or otherwise terminates without delivery of shares (including shares surrendered or withheld for payment of taxes related to an award), such shares will again be available for issuance under the Plan except for (1) any shares tendered in payment of an option, (2) shares withheld to satisfy any tax withholding obligation with respect to the exercise of an option or stock appreciation right ("SAR") or (3) shares covered by a stock-settled SAR or other awards that were not issued upon the settlement of the award. The Plan authorizes the issuance of up to 163 million shares of common stock. As of December 31, 2024, there were nine million shares available for future grants. We make long-term incentive awards annually to eligible employees under the Plan. Generally, awards vest over time, subject to the employee's continued employment. Equity compensation expense, including awards payable in common stock or cash, is recognized in salaries and related costs over the employee's requisite service period (generally, the vesting period of the award) and totaled $236 million, $180 million and $150 million for the years ended December 31, 2024, 2023 and 2022, respectively. We record expense on a straight-line basis for awards with installment vesting. As of December 31, 2024, unrecognized costs related to unvested shares and stock options totaled $117 million. We expect substantially all unvested awards to vest and recognize forfeitures as they occur. Restricted Stock. Restricted stock is common stock that may not be sold or otherwise transferred for a period of time and is subject to forfeiture in certain circumstances. The fair value of restricted stock awards is based on the closing price of the common stock on the grant date. As of December 31, 2024, there were 4.3 million unvested restricted stock awards. Restricted stock activity under the Plan for the years ended December 31, 2024, 2023 and 2022 is as follows: Restricted stock award activity 2024 2023 2022 Restricted Stock Awards Weighted-Average Restricted Stock Awards Weighted-Average Restricted Stock Awards Weighted-Average (in millions, except weighted avg grant price) Outstanding at January 1 4.2 $ 40.51 3.1 $ 43.43 2.9 $ 45.66 Granted 2.6 40.75 2.7 39.63 1.9 42.45 Vested (2.3) 40.60 (1.5) 44.79 (1.6) 46.31 Forfeited (0.2) 40.49 (0.1) 40.94 (0.1) 45.51 Outstanding at December 31 4.3 $ 40.60 4.2 $ 40.51 3.1 $ 43.43 Stock Options. Stock options are granted with an exercise price equal to the closing price of Delta common stock on the grant date and generally have a 10-year term. We determine the fair value of stock options at the grant date using an option pricing model. As of December 31, 2024, there were 4.8 million outstanding exercisable stock option awards with a weighted average exercise price of $50.41. Stock option activity under the Plan for the years ended December 31, 2024, 2023 and 2022 is as follows: Stock option activity 2024 2023 2022 Stock Options Weighted-Average Stock Options Weighted-Average Stock Options Weighted-Average (in millions, except weighted avg grant price) Outstanding at January 1 6.2 $ 50.42 6.2 $ 50.40 6.2 $ 50.41 Granted — — — — — — Exercised (1) (1.4) 50.35 — 39.78 — — Forfeited (1) — 52.89 — 51.91 — 52.87 Outstanding at December 31 4.8 $ 50.41 6.2 $ 50.42 6.2 $ 50.40 (1) Forfeitures in 2024, 2023 and 2022 and exercises in 2023 occurred, but round to zero in the table above. Performance Awards. Performance awards are dollar-denominated long-term incentive opportunities which are payable in cash to all participants. Potential performance award payments range from 0%-200% of a target level and are contingent upon our achieving certain financial and operational goals over a three-year performance period. Performance Restricted Stock Units (PRSU). Performance restricted stock units are long-term incentive opportunities that provide executive officers with the right to receive shares of Delta stock based on our achievement of certain performance conditions at the end of a three-year period. PRSUs were first granted to executive officers in 2022. Potential payouts range from 0%-300% of a target level for the grants in 2022 and 2023 and range from 0%-200% of a target level for the grants in 2024. Based on the closing stock price at year end and contingent on achieving the specified performance conditions, the maximum shares that could be issued were 6.0 million, 3.3 million and 1.3 million for the years ended December 31, 2024, 2023 and 2022 respectively.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Components of accumulated other comprehensive loss (in millions) Pension and Other Benefits Liabilities (2) Other Tax Effect Total Balance at January 1, 2022 $ (8,355) $ 41 $ 1,184 $ (7,130) Changes in value 1,419 — (330) 1,089 Reclassifications into earnings (1) 312 — (72) 240 Balance at December 31, 2022 (6,624) 41 782 (5,801) Changes in value (303) (1) 71 (233) Reclassifications into earnings (1) 246 — (57) 189 Balance at December 31, 2023 (6,681) 40 796 (5,845) Changes in value 859 2 (199) 662 Reclassifications into earnings (1) 265 — (61) 204 Balance at December 31, 2024 $ (5,557) $ 42 $ 536 $ (4,979) (1) Amounts reclassified from AOCI for pension and other benefits liabilities are recorded in miscellaneous, net in non-operating expense in our income statement. (2) Includes approximately $750 million of deferred income tax expense as a result of tax law changes and prior valuation allowance releases through continuing operations, that will not be recognized in net income until pension and other benefit obligations are fully extinguished.

SEGMENTS

SEGMENTS	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM") and is used in resource allocation and performance assessments. Our executive leadership team, the Delta Leadership Committee (“DLC”), is our CODM. The DLC regularly reviews information for our two operating segments: our airline segment and our refinery segment. The DLC uses operating income to evaluate segment performance. The DLC is involved in determining and reviewing projected operating income as part of the annual plan process. Throughout the year, the DLC considers forecast to actual results and variances on a monthly and quarterly basis to allocate resources for the airline segment's fleet and network and to optimize the refinery segment's operations. The DLC also considers this information in strategic decisions related to capital allocations, including investments in fleet, ground, information technology and refinery assets, route and network development and human capital. Airline Segment Our airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the U.S. and around the world and includes our loyalty program, as well as other ancillary businesses. This allows us to benefit from an integrated revenue pricing and route network. Our flight equipment forms one fleet, which is deployed through a single route scheduling system. When making resource allocation decisions, our CODM evaluates aggregated flight profitability data, which considers fleet type and route economics, but gives no weight to the financial impact of the resource allocation decision on a geographic region or mainline/regional carrier basis. Our objective in making resource allocation decisions is to optimize our consolidated financial results. Refinery Segment Our Monroe subsidiary operates the Trainer oil refinery and related assets located near Philadelphia, Pennsylvania, as part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel. Monroe's operations include pipelines and terminal assets that allow the refinery to supply jet fuel to our airline operations throughout the Northeastern U.S., including our New York hubs at LaGuardia and JFK. Our refinery segment operates for the benefit of the airline segment by providing jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third parties. The refinery's production consists of jet fuel, as well as non-jet fuel products. We exchange the non-jet fuel products produced by the refinery with counterparties for jet fuel consumed in our airline operations. The gross fair value of the products exchanged under these agreements during the years ended December 31, 2024, 2023 and 2022 was $1.5 billion, $2.4 billion and $3.5 billion, respectively. A refinery is subject to annual Environmental Protection Agency ("EPA") requirements to blend renewable fuels into the gasoline and on-road diesel fuel it produces. A refinery may meet its obligation by blending the necessary volumes of renewable fuels, by purchasing Renewable Identification Numbers ("RINs") in the open market or through a combination of blending and purchasing RINs. Because Monroe is able to blend only a small amount of renewable fuels, it must purchase the majority of its RINs requirement in the secondary market. Renewable fuel compliance costs are accrued in accounts payable each period as the RINs obligation is generated. Purchased RINs are carried at the lower of cost and net realizable value and are recorded in prepaid expenses and other. The RINs asset and obligation are retired when used to satisfy EPA requirements. Segment Reporting Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis. Our income tax provision is determined on a consolidated basis and is not calculated at the segment level. Financial information by segment (in millions) Airline Refinery Intersegment Sales/Other Consolidated Year Ended December 31, 2024 Operating revenue $ 57,001 $ 7,767 $ (3,125) (1) $ 61,643 Airline salaries and related costs 16,161 Aircraft fuel and related costs 10,566 Refinery cost of goods sold (2) 7,234 Depreciation and amortization 2,513 113 Other segment items (3) 21,804 382 Operating income (4) 5,957 38 5,995 Interest expense, net 747 3 (3) 747 Other non-operating expense 590 590 Income before income taxes 4,620 35 3 4,658 Total assets, end of period 72,979 2,418 (25) 75,372 Capital expenditures 5,075 65 5,140 Year Ended December 31, 2023 Operating revenue $ 54,669 $ 7,572 $ (4,193) (1) $ 58,048 Airline salaries and related costs 14,607 Aircraft fuel and related costs 11,069 Refinery cost of goods sold (2) 6,665 Depreciation and amortization 2,341 94 Other segment items (3) 21,516 428 Operating income (4) 5,136 385 5,521 Interest expense, net 834 17 (17) 834 Other non-operating income 921 921 Income before income taxes 5,223 368 17 5,608 Total assets, end of period 71,529 2,174 (59) 73,644 Capital expenditures 5,088 235 5,323 Year Ended December 31, 2022 Operating revenue $ 45,605 $ 10,706 $ (5,729) (1) $ 50,582 Airline salaries and related costs 11,902 Aircraft fuel and related costs 11,482 Refinery cost of goods sold (2) 9,442 Depreciation and amortization 2,107 93 Other segment items (3) 17,230 394 Operating income (4) 2,884 777 3,661 Interest expense, net 1,029 12 (12) 1,029 Other non-operating expense 718 718 Income before income taxes 1,137 765 12 1,914 Total assets, end of period 69,355 3,039 (106) 72,288 Capital expenditures 6,217 149 6,366 (1) See table below for detail of the intersegment operating revenue amounts. (2) Refinery cost of goods sold are included within aircraft fuel and related taxes and ancillary businesses and refinery in our income statement. (3) The nature of other segment items for the airline segment are shown on the income statement and for the refinery segment include salaries and related costs, maintenance, utilities and other expenses. (4) Refinery segment operating results are included within aircraft fuel and related taxes in our income statement. Operating revenue intersegment sales/other Year Ended December 31, (in millions) 2024 2023 2022 Sales to airline segment (1) $ (1,421) $ (1,535) $ (1,976) Exchanged products (2) (1,473) (2,354) (3,475) Sales of refined products (231) (304) (278) Total operating revenue intersegment sales/other $ (3,125) $ (4,193) $ (5,729) (1) Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price for jet fuel from the refinery by reference to the market index for the primary delivery location, which is New York Harbor. (2) Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based instruments, including stock options, restricted stock awards and warrants. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material. The following table shows our computation: Basic and diluted earnings per share Year Ended December 31, (in millions, except per share data) 2024 2023 2022 Net income $ 3,457 $ 4,609 $ 1,318 Basic weighted average shares outstanding 641 639 638 Dilutive effect of share-based instruments 7 4 3 Diluted weighted average shares outstanding 648 643 641 Basic earnings per share $ 5.39 $ 7.21 $ 2.07 Diluted earnings per share $ 5.33 $ 7.17 $ 2.06

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income	$ 3,457	$ 4,609	$ 1,318

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our processes for assessing, identifying and managing material risks from cybersecurity threats is incorporated into our Enterprise Risk Management ("ERM") framework. Our information security and ERM teams coordinate to regularly review and assess these risks using a wide range of tools and services. Our cybersecurity program leverages components from several industry frameworks and generally recognized best practices, including International Organization for Standardization 27001 and National Institute of Standards and Technology ("NIST") standards, such as the NIST Cybersecurity Framework, which emphasizes identification, protection, detection, response and recovery. We regularly assess our information security program capabilities and tools to improve reliability, enhance capabilities and scan our environment for vulnerabilities and weaknesses. Our information technology teams are trained to remediate vulnerabilities identified within established timeframes and our information security team reports to management on a weekly basis regarding the security risk posture of our information technology assets. We have established a dedicated Information Technology Risk team tasked with the goal of ensuring that risk remediation activities are carried out consistently and that risk remediation controls are operating as intended and within established thresholds. Enterprise-wide training is a vital component to reducing risk and protecting customers, employees and company information. We expect all Delta employees and third-party contractors to adhere to information security and privacy policies as they handle corporate and customer information in their daily jobs. As a result, we require all employees and contractors with access to Delta’s information to complete annual training, which is updated as new technology, security and privacy issues emerge. All new employees are required to complete training within 30 days of hire. We also conduct, at least annually, other training and employee education activities, including through awareness programs and campaigns. We engage assessors, consultants, auditors and other third parties to perform assessments of our cybersecurity program with the intent to identify areas for continued improvement, as well as to ensure ongoing compliance with regulatory requirements to which we are subject. In connection with certain regulatory requirements, we are required to engage third parties to assess our cybersecurity controls. Our cybersecurity program is subject to TSA requirements applicable to certain TSA-regulated airport and aircraft operators, including the requirement to develop a TSA-approved implementation plan describing measures we are taking to improve cybersecurity and to assess the effectiveness of those measures on an ongoing basis. Our processes also address cybersecurity threat risks associated with our use of third-party service providers, including those who have access to our data or our systems. Third-party risks are included within our risk assessment of vendors, as well as our cybersecurity-specific risk identification program. In addition, cybersecurity considerations affect the selection and oversight of third-party service providers. We perform diligence on third parties, particularly those that have access to our systems, data or facilities that house such systems or data, and continually monitor cybersecurity threat risks identified through such diligence. Additionally, we generally require those third parties that could introduce significant cybersecurity risk to us to agree by contract to manage their cybersecurity risks in specified ways, and to agree to be subject to cybersecurity audits. We regularly test our incident response processes through table-top exercises to ensure they continue to be effective as our business and the cybersecurity threat landscape evolve. Our incident response processes are designed to guide the actions we take to prepare for, detect, respond to and recover from cybersecurity incidents. In the last three fiscal years, we have not experienced any material cybersecurity incidents and the expenses we have incurred from cybersecurity incidents were immaterial. We describe whether and how risks related to cybersecurity threats are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition, in Item 1A of this Annual Report on Form 10-K, which disclosures are incorporated by reference in this Item 1C.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our processes for assessing, identifying and managing material risks from cybersecurity threats is incorporated into our Enterprise Risk Management ("ERM") framework. Our information security and ERM teams coordinate to regularly review and assess these risks using a wide range of tools and services. Our cybersecurity program leverages components from several industry frameworks and generally recognized best practices, including International Organization for Standardization 27001 and National Institute of Standards and Technology ("NIST") standards, such as the NIST Cybersecurity Framework, which emphasizes identification, protection, detection, response and recovery. We regularly assess our information security program capabilities and tools to improve reliability, enhance capabilities and scan our environment for vulnerabilities and weaknesses. Our information technology teams are trained to remediate vulnerabilities identified within established timeframes and our information security team reports to management on a weekly basis regarding the security risk posture of our information technology assets. We have established a dedicated Information Technology Risk team tasked with the goal of ensuring that risk remediation activities are carried out consistently and that risk remediation controls are operating as intended and within established thresholds. Enterprise-wide training is a vital component to reducing risk and protecting customers, employees and company information. We expect all Delta employees and third-party contractors to adhere to information security and privacy policies as they handle corporate and customer information in their daily jobs. As a result, we require all employees and contractors with access to Delta’s information to complete annual training, which is updated as new technology, security and privacy issues emerge. All new employees are required to complete training within 30 days of hire. We also conduct, at least annually, other training and employee education activities, including through awareness programs and campaigns.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board is engaged in the oversight of cybersecurity threat risk management. As reflected in the Audit Committee’s charter, the Board has specifically delegated responsibility for oversight of cybersecurity matters to the Audit Committee as part of its review of our ERM framework. The Audit Committee receives updates on cybersecurity risks and the security and operations of our information technology systems from our Chief Information Officer and our Chief Information Security Officer at least twice per year with additional updates as requested by the Chair of the Audit Committee. In 2024, the Audit Committee received updates on information security matters at two of its regular meetings. In addition, our Chief Information Officer, our Chief Information Security Officer, other members of our information technology leadership team provided a general overview of information technology matters, including cybersecurity, in a special session with all members of our Board of Directors. In addition to information provided in these meetings, members of our Board also have access to internal and external education on cybersecurity risks. The Board also benefits from the expertise of one of our members who has significant experience in management of cybersecurity companies. Our information security team is led by our Senior Vice President & Chief Information Security Officer, who reports directly to our Executive Vice President - Chief Information Officer. Leadership of the information security team has extensive dedicated cybersecurity experience. Additionally, the collective leadership team holds 21 certifications in cybersecurity and related fields, including Certified Information Systems Security Professional, Certified Information Security Manager, and Certified Information Systems Auditor. Our Chief Information Security Officer and other members of our cybersecurity leadership team regularly participate in threat intelligence briefings provided through various government and industry entities. Both our Chief Information Officer and our Chief Information Security Officer are members of the Delta Risk Council, which is the management group that oversees all areas of our business risk. Cybersecurity threat risks are a regular subject addressed by this group. In addition, our Chief Information Officer is a member of the Delta Leadership Committee and provides updates to this group as needed about cybersecurity matters. Our cybersecurity incident response plan includes processes for communication about cybersecurity incidents to appropriate levels of management, including to the Risk Council and Leadership Committee, as well as the Audit Committee and the Board, as merited.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board is engaged in the oversight of cybersecurity threat risk management. As reflected in the Audit Committee’s charter, the Board has specifically delegated responsibility for oversight of cybersecurity matters to the Audit Committee as part of its review of our ERM framework. The Audit Committee receives updates on cybersecurity risks and the security and operations of our information technology systems from our Chief Information Officer and our Chief Information Security Officer at least twice per year with additional updates as requested by the Chair of the Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives updates on cybersecurity risks and the security and operations of our information technology systems from our Chief Information Officer and our Chief Information Security Officer at least twice per year with additional updates as requested by the Chair of the Audit Committee.
Cybersecurity Risk Role of Management [Text Block]	In addition, our Chief Information Officer, our Chief Information Security Officer, other members of our information technology leadership team provided a general overview of information technology matters, including cybersecurity, in a special session with all members of our Board of Directors. In addition to information provided in these meetings, members of our Board also have access to internal and external education on cybersecurity risks. The Board also benefits from the expertise of one of our members who has significant experience in management of cybersecurity companies.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board is engaged in the oversight of cybersecurity threat risk management. As reflected in the Audit Committee’s charter, the Board has specifically delegated responsibility for oversight of cybersecurity matters to the Audit Committee as part of its review of our ERM framework.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Leadership of the information security team has extensive dedicated cybersecurity experience. Additionally, the collective leadership team holds 21 certifications in cybersecurity and related fields, including Certified Information Systems Security Professional, Certified Information Security Manager, and Certified Information Systems Auditor.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee receives updates on cybersecurity risks and the security and operations of our information technology systems from our Chief Information Officer and our Chief Information Security Officer at least twice per year with additional updates as requested by the Chair of the Audit Committee. In 2024, the Audit Committee received updates on information security matters at two of its regular meetings. In addition, our Chief Information Officer, our Chief Information Security Officer, other members of our information technology leadership team provided a general overview of information technology matters, including cybersecurity, in a special session with all members of our Board of Directors. In addition to information provided in these meetings, members of our Board also have access to internal and external education on cybersecurity risks. The Board also benefits from the expertise of one of our members who has significant experience in management of cybersecurity companies.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Delta Air Lines, Inc., a Delaware corporation, provides scheduled air transportation for passengers and cargo throughout the United States ("U.S.") and around the world. Our Consolidated Financial Statements include the accounts of Delta Air Lines, Inc. and our consolidated subsidiaries and have been prepared in accordance with generally accepted accounting principles in the U.S. ("GAAP"). We are not the primary beneficiary of, nor do we have a controlling financial interest in, any variable interest entity. Accordingly, we have not consolidated any variable interest entity. We have marketing alliances with other airlines to enhance our access to domestic and international markets. These arrangements may include codesharing, reciprocal loyalty program benefits, shared or reciprocal access to passenger lounges, joint promotions, common use of airport gates and ticket counters, office co-location and other marketing agreements. We have received antitrust immunity for certain marketing arrangements, which enables us to offer a more integrated route network and develop common sales, marketing and discount programs for customers. Some of our marketing arrangements provide for the sharing of revenues and expenses. Revenues and expenses associated with the flights we operate under collaborative arrangements are presented on a gross basis in the applicable line items on our Consolidated Statements of Operations ("income statement"). We have reclassified certain prior period amounts to conform to the current period presentation. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.
Use of Estimates	Use of Estimates We are required to make estimates and assumptions when preparing our Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates.
Recent Accounting Standards	Recent Accounting Standards Recently Adopted Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This standard requires disclosure of significant segment expenses and other segment items by reportable segment. We adopted this standard effective January 1, 2024. See Note 14, "Segments," for further information regarding our segment reporting. Standards Effective in Future Years Income Taxes. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This standard enhances disclosures related to income taxes, including the rate reconciliation and information on income taxes paid. This ASU is effective beginning January 1, 2025. Upon adoption of this ASU we expect to include certain additional disclosures in the effective income tax rate reconciliation in the footnotes to our Consolidated Financial Statements. Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." This standard requires disclosure of specific information about costs and expenses and becomes effective January 1, 2027. We are assessing the impact of this ASU and, upon adoption, may be required to include certain additional disclosures in the footnotes to our Consolidated Financial Statements.
Cash and Cash Equivalents	Short-term, highly liquid investments with maturities of three months or less when purchased are classified as cash and cash equivalents.
Short-Term and Long-Term Investments	Investments with maturities of greater than three months, but not in excess of one year, when purchased were classified as short-term investments and stated at fair value. Investments with maturities beyond one year when purchased may be classified as short-term investments if they are expected to be available to support our short-term liquidity needs. Short-Term Investments. The fair values of our short-term investments were based on a market approach using industry standard valuation techniques that incorporate observable inputs such as quoted market prices, interest rates, benchmark curves, credit ratings of the security and other observable information. Long-Term Investments and Related. Our long-term investments measured at fair value primarily consist of equity investments, which are valued based on market prices or other observable transactions and inputs, and are recorded in equity investments on our balance sheets. Our equity investments in private companies are classified as Level 3 in the fair value hierarchy as their equity is not traded on a public exchange and our valuations incorporate certain unobservable inputs, including non-public equity issuances. Fair value measurement using unobservable inputs is inherently uncertain, and a change in significant inputs could result in different fair values. During the year ended December 31, 2024 there were no material gains or losses related to investments classified as Level 3 as a result of fair value adjustments. See Note 4, "Investments," for further information on our long-term investments.
Inventories	Inventories Fuel. As part of our strategy to mitigate the cost of the refining margin reflected in the price of jet fuel, our wholly owned subsidiary, Monroe Energy, LLC ("Monroe"), operates the Trainer oil refinery. Refined products (finished goods) and feedstock and blendstock inventories (work-in-process) are carried at the lower of cost and net realizable value. We use jet fuel in our airline operations that is produced by the refinery, procured through the exchanges with third parties of gasoline, diesel and other refined products ("non-jet fuel products") the refinery produces and purchased directly from third parties. Cost is determined using the first-in, first-out method. Costs include the raw material consumed plus direct manufacturing costs (such as labor, utilities and supplies) as incurred and an applicable portion of manufacturing overhead. Expendables Parts and Supplies. Inventories of expendable parts related to flight equipment, which cannot be economically repaired, reconditioned or reused after removal from the aircraft, are carried at moving average cost and charged to aircraft maintenance materials and outside repairs as consumed. An allowance for obsolescence is provided over the remaining useful life of the related fleet. We also provide allowances for parts identified as excess or obsolete to reduce the carrying costs to the lower of cost or net realizable value. These parts are estimated to have residual value of 5% of the original cost.
Accounting for Refinery Related Buy/Sell Agreements	Accounting for Refinery Related Buy/Sell Agreements To the extent that we receive jet fuel for non-jet fuel products exchanged under buy/sell agreements, we account for these transactions as nonmonetary exchanges. We have recorded these nonmonetary exchanges at the carrying amount of the non-jet fuel products transferred within aircraft fuel and related taxes on the income statement.
Derivatives and Fuel Hedge Contracts	Derivatives Fuel Hedge Contracts. A portion of our derivative contracts may be negotiated over-the-counter with counterparties without going through a public exchange. Accordingly, our fair value assessments give consideration to the risk of counterparty default (as well as our own credit risk). Such contracts would be classified as Level 2 within the fair value hierarchy. The remainder of our hedge contracts may be comprised of futures contracts, which are traded on a public exchange. These contracts would be classified within Level 1 of the fair value hierarchy.
Long-Lived Assets	Long-Lived Assets three
Impairment of Long-Lived Assets	We review flight equipment, ROU assets and other long-lived assets used in operations for impairment losses when events and circumstances indicate the assets may be impaired. Factors which could be indicators of impairment include, but are not limited to (1) a decision to permanently remove flight equipment or other long-lived assets from operations, (2) significant changes in the estimated useful life, (3) significant changes in projected cash flows, (4) permanent and significant declines in fleet fair values and (5) changes to the regulatory environment. For long-lived assets held for sale, we discontinue depreciation and record impairment losses when the carrying amount of these assets is greater than the fair value less the cost to sell. To determine whether impairments exist for aircraft used in operations, we group assets at the fleet type level or at the contract level for aircraft operated by third-party regional carriers (i.e., the lowest level for which there are identifiable cash flows) and then estimate future cash flows based on projections of capacity, passenger mile yield, fuel and labor costs and other relevant factors. If an asset group is impaired, the impairment loss recognized is the amount by which the asset group's carrying amount exceeds its estimated fair value. We estimate aircraft fair values using published sources, appraisals and bids received from third parties, as available.
Fuel Card Obligation	Fuel Card Obligation
Manufacturers' Credits	Manufacturers' Credits We periodically receive credits in connection with the acquisition of aircraft and engines or in connection with delivery delays or manufacturing defects. These credits are deferred until the aircraft and engines are delivered, and then applied as a reduction to the cost of the related equipment.
Maintenance Costs	Maintenance Costs We record maintenance costs related to our mainline and regional fleets in aircraft maintenance materials and outside repairs and regional carrier expense, respectively. Maintenance costs are expensed as incurred, except for costs incurred under power-by-the-hour contracts, which are expensed based on actual hours flown. Power-by-the-hour contracts transfer certain risk to third-party service providers and fix the amount we pay per flight hour or per flight cycle to the service provider in exchange for maintenance and repairs under a predefined maintenance program. Modifications that enhance the operating performance or extend the useful lives of airframes or engines are capitalized and amortized over the remaining estimated useful life of the asset or the remaining lease term, whichever is shorter.
Advertising Costs	Advertising Costs
Commissions and Merchant Fees	Commissions and Merchant Fees Passenger sales commissions and merchant fees are recognized in passenger commissions and other selling expenses when the related revenue is recognized.
Cash Equivalents and Restricted Cash Equivalents	Cash Equivalents and Restricted Cash Equivalents. Cash equivalents generally consist of money market funds. Restricted cash equivalents are recorded in other noncurrent assets and prepaid expenses and other on our balance sheets and generally consist of money market funds, time deposits, commercial paper and negotiable certificates of deposit, which primarily relate to proceeds from debt issued to finance, among other things, a portion of the construction costs for our new terminal facilities at New York's LaGuardia Airport as well as certain self-insurance obligations and airport commitments. The fair value of these cash equivalents is based on a market approach using prices generated by market transactions involving identical or comparable assets.
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Our goodwill and identifiable intangible assets relate to the airline segment. We apply a fair value-based impairment test to the carrying value of goodwill and indefinite-lived intangible assets on an annual basis (as of October 1) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. We assess the value of our goodwill and indefinite-lived assets under either a qualitative or quantitative approach. Under a qualitative approach, we consider various market factors, including certain of the key assumptions listed below. We analyze these factors to determine if events and circumstances have affected the fair value of goodwill and indefinite-lived intangible assets. If we determine that it is more likely than not that the asset may be impaired, we use the quantitative approach to assess the asset's fair value and the amount of the impairment. Under a quantitative approach, we calculate the fair value of the asset incorporating the key assumptions listed below into our calculation. We value goodwill and indefinite-lived intangible assets primarily using market and income approach valuation techniques. These measurements include the following key assumptions (1) forecasted revenues, expenses and cash flows, (2) current discount rates, (3) observable market transactions and (4) anticipated changes to the regulatory environment (e.g., changes in slot access and/or availability, additional Open Skies agreements or changes to antitrust approvals). These assumptions are consistent with those that hypothetical market participants would use. Because we are required to make estimates and assumptions when evaluating goodwill and indefinite-lived intangible assets for impairment, actual transaction amounts may differ materially from these estimates. We recognize an impairment charge if the asset's carrying value exceeds its estimated fair value. Changes in certain events and circumstances could result in impairment or a change from indefinite-lived to definite-lived. Factors which could cause impairment include, but are not limited to (1) negative trends in our market capitalization, (2) reduced profitability resulting from lower passenger mile yields or higher input costs, (3) lower passenger demand as a result of weakened U.S. and global economies or other factors, (4) prolonged interruption to our operations, (5) changes to the regulatory environment, (6) operational or performance changes by other airlines and (7) strategic changes to our operations leading to diminished utilization of the intangible assets. Identifiable Intangible Assets. Indefinite-lived assets are not amortized and consist of routes, slots, the Delta tradename and assets related to alliances and collaborative arrangements. Definite-lived intangible assets consist primarily of marketing and maintenance service agreements and are amortized on a straight-line basis or under the undiscounted cash flows method over the estimated economic life of the respective agreements. Costs incurred to renew or extend the term of an intangible asset are expensed as incurred.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets ("balance sheets") that sum to the total of the same such amounts shown within the Consolidated Statements of Cash Flows ("cash flows statement"). Reconciliation of cash, cash equivalents and restricted cash December 31, (in millions) 2024 2023 2022 Current assets: Cash and cash equivalents $ 3,069 $ 2,741 $ 3,266 Restricted cash included in prepaid expenses and other 168 199 138 Noncurrent assets: Restricted cash included in other noncurrent assets 184 455 69 Total cash, cash equivalents and restricted cash $ 3,421 $ 3,395 $ 3,473
Schedule of Property, Plant and Equipment	The following table summarizes our property and equipment: Property and equipment by classification December 31, (in millions, except for estimated useful life) Estimated Useful Life 2024 2023 Flight equipment (1) 25-34 years $ 44,722 $ 40,976 Ground property and equipment 3-40 years 10,695 9,986 Information technology-related assets 3-15 years 3,135 3,307 Flight and ground equipment under finance leases Lease term or estimated useful life 1,196 1,862 Advance payments for equipment 1,075 1,062 Less: accumulated depreciation and amortization (2) (23,228) (21,707) Total property and equipment, net $ 37,595 $ 35,486 (1) Includes aircraft and associated engines and parts. (2) Includes accumulated amortization for flight and ground equipment under finance leases in the amount of $371 million and $525 million at December 31, 2024 and 2023, respectively.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Passenger revenue is composed of passenger ticket sales, loyalty travel awards and travel-related services performed in conjunction with a passenger’s flight. Passenger revenue by category Year Ended December 31, (in millions) 2024 2023 2022 Ticket $ 45,096 $ 43,596 $ 35,626 Loyalty travel awards 3,841 3,462 2,898 Travel-related services 1,957 1,851 1,694 Total passenger revenue $ 50,894 $ 48,909 $ 40,218 Other Revenue Year Ended December 31, (in millions) 2024 2023 2022 Refinery $ 4,642 $ 3,379 $ 4,977 Loyalty program 3,297 3,093 2,597 Ancillary businesses 772 840 846 Miscellaneous 1,216 1,104 894 Total other revenue $ 9,927 $ 8,416 $ 9,314
Schedule of Activity in Loyalty Program Deferred Revenue	The table below presents the activity of the current and noncurrent loyalty program deferred revenue, and includes miles earned through travel and miles sold to participating companies, which are primarily through marketing agreements. Loyalty program activity (in millions) 2024 2023 2022 Balance at January 1 $ 8,420 $ 7,882 $ 7,559 Miles earned 4,463 4,173 3,419 Travel miles redeemed (3,841) (3,462) (2,898) Non-travel miles redeemed (216) (173) (198) Balance at December 31 $ 8,826 $ 8,420 $ 7,882
Schedule of Revenue by Geographic Region	Our passenger and operating revenue by geographic region are summarized in the following table: Revenue by geographic region Passenger Revenue Operating Revenue Year Ended December 31, Year Ended December 31, (in millions) 2024 2023 2022 2024 2023 2022 Domestic $ 35,226 $ 33,968 $ 30,197 $ 43,508 $ 40,845 $ 38,478 Atlantic 9,133 9,057 6,093 10,535 10,458 7,429 Latin America 3,995 3,798 2,889 4,564 4,292 3,334 Pacific 2,540 2,086 1,039 3,036 2,453 1,341 Total $ 50,894 $ 48,909 $ 40,218 $ 61,643 $ 58,048 $ 50,582

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets/(Liabilities) Measured at Fair Value on a Recurring Basis	Assets (Liabilities) Measured at Fair Value on a Recurring Basis (1) December 31, 2024 Valuation Technique (in millions) Total Level 1 Level 2 Level 3 Cash equivalents $ 1,619 $ 1,619 $ — $ — (a) Restricted cash equivalents 351 351 — — (a) Long-term investments and related 2,372 2,085 160 127 (a)(b) Fuel hedge contracts (17) — (17) — (a)(b) December 31, 2023 Valuation Technique (in millions) Total Level 1 Level 2 Level 3 Cash equivalents $ 1,545 $ 1,545 $ — $ — (a) Restricted cash equivalents 653 653 — — (a) Short-term investments U.S. Government securities 859 204 655 — (a) Corporate obligations 218 — 218 — (a) Other fixed income securities 50 — 50 — (a) Long-term investments and related 2,867 2,614 134 119 (a)(b) Fuel hedge contracts 5 — 5 — (a)(b) (1) See Note 9, "Employee Benefit Plans," for fair value of benefit plan assets.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Equity Investments Ownership and Carrying Value - Fair Value	Equity investments ownership interest and carrying value Accounting Treatment Ownership Interest Carrying Value (in millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Air France-KLM Fair Value 3 % 3 % $ 62 $ 110 China Eastern Fair Value 2 % 2 % 155 134 Grupo Aeroméxico Equity Method (1) 20 % 20 % 354 421 Hanjin-KAL Fair Value (2) 15 % 15 % 507 561 LATAM Fair Value 10 % 10 % 837 658 Unifi Aviation Equity Method (3) 49 % 49 % 146 162 Wheels Up Fair Value (4) 38 % 38 % 435 903 Other investments Various 350 508 Equity investments $ 2,846 $ 3,457 (1) Results are included in miscellaneous, net in our income statement under non-operating expense. (2) At December 31, 2024, we held 14.8% of the outstanding shares (including common and preferred), and 14.9% of the common shares, of Hanjin KAL. (3) Results are included in contracted services in our income statement as this entity is integral to the operations of our business by providing services at many of our airport locations. (4) Our voting rights with respect to Wheels Up are capped at 29.9%. We elected to account for our investment under the fair value option.
Schedule of Equity Investments Ownership and Carrying Value - Equity Method	Equity investments ownership interest and carrying value Accounting Treatment Ownership Interest Carrying Value (in millions) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Air France-KLM Fair Value 3 % 3 % $ 62 $ 110 China Eastern Fair Value 2 % 2 % 155 134 Grupo Aeroméxico Equity Method (1) 20 % 20 % 354 421 Hanjin-KAL Fair Value (2) 15 % 15 % 507 561 LATAM Fair Value 10 % 10 % 837 658 Unifi Aviation Equity Method (3) 49 % 49 % 146 162 Wheels Up Fair Value (4) 38 % 38 % 435 903 Other investments Various 350 508 Equity investments $ 2,846 $ 3,457 (1) Results are included in miscellaneous, net in our income statement under non-operating expense. (2) At December 31, 2024, we held 14.8% of the outstanding shares (including common and preferred), and 14.9% of the common shares, of Hanjin KAL. (3) Results are included in contracted services in our income statement as this entity is integral to the operations of our business by providing services at many of our airport locations. (4) Our voting rights with respect to Wheels Up are capped at 29.9%. We elected to account for our investment under the fair value option.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Goodwill and indefinite-lived intangible assets by category Carrying Value at (in millions) December 31, 2024 December 31, 2023 Goodwill $ 9,753 $ 9,753 International routes and slots 2,583 2,583 Airline alliances 1,863 1,863 Delta tradename 850 850 Domestic slots 622 622 Total $ 15,671 $ 15,671
Schedule of Finite-Lived Intangible Assets	Definite-Lived Intangible Assets Definite-lived intangible assets by category December 31, 2024 December 31, 2023 (in millions) Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Marketing agreements $ 730 $ (712) $ 730 $ (708) Maintenance contracts 192 (154) 192 (150) Other 54 (53) 54 (53) Total $ 976 $ (919) $ 976 $ (911)

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our debt as of the dates indicated below: Summary of outstanding debt by category Maturity Dates Interest Rate(s) Per Annum at December 31, 2024 December 31, (in millions) 2024 2023 Unsecured Payroll Support Program Loans (1) 2030 to 2031 1.00% $ 3,496 $ 3,496 Unsecured notes 2026 to 2029 3.75% to 7.38% 1,575 2,590 Financing arrangements secured by SkyMiles assets: SkyMiles Notes (2) 2025 to 2028 4.50% and 4.75% 3,970 4,518 SkyMiles Term Loan (2)(3) 2025 to 2027 8.37% 784 1,772 NYTDC Special Facilities Revenue Bonds (2) 2025 to 2045 4.00% to 6.00% 3,591 3,656 Financing arrangements secured by aircraft: Certificates (2) 2025 to 2028 2.00% to 8.00% 992 1,591 Notes (2)(3) 2025 to 2033 6.62% to 6.86% 87 165 Financing arrangements secured by slots, gates and/or routes: Senior Secured Notes 2025 7.00% 812 838 Other financings (2) 2025 to 2030 2.51% to 5.00% 66 67 Corporate Revolving Credit Facility 2026 to 2028 Undrawn — — Other revolving credit facilities (3) 2025 to 2026 Undrawn — — Total secured and unsecured debt 15,373 18,693 Unamortized (discount)/premium and debt issuance cost, net and other (26) (83) Total debt 15,347 18,610 Less: current maturities (1,801) (2,625) Total long-term debt $ 13,546 $ 15,985 (1) Interest rates on the Payroll Support Program loans are 1.00% for the first five years and the applicable SOFR plus 2.00% in the final five years. The applicable interest rates will begin to adjust for each loan in April 2025, January 2026 and April 2026. (2) Due in installments. (3) Certain financings are comprised of variable rate debt. All variable rates are equal to SOFR (generally subject to a floor) or another index rate plus a specified margin.
Schedule of Fair Value of Outstanding Debt	The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Debt is primarily classified as Level 1 or Level 2 within the fair value hierarchy. Fair value of outstanding debt (in millions) December 31, 2024 December 31, 2023 Net carrying amount $ 15,347 $ 18,610 Fair value $ 15,300 $ 18,400
Schedule of Future Debt Maturities	The following table summarizes scheduled maturities of our debt for the years succeeding December 31, 2024: Future debt maturities (in millions) Total Debt Amortization of Debt (Discount)/Premium and Debt Issuance Cost, net and other 2025 $ 1,798 $ (29) 2026 2,313 (3) 2027 2,133 2 2028 1,884 — 2029 621 2 Thereafter 6,624 2 Total $ 15,373 $ (26) $ 15,347

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Lease Related Assets and Liabilities	The table below presents the lease-related assets and liabilities recorded on the balance sheets. Lease asset and liability balance sheet position by category December 31, (in millions) Classification on the Balance Sheets 2024 2023 Assets Operating lease assets - Fleet (1) Operating lease right-of-use assets $ 2,910 $ 3,420 Operating lease assets - Ground and other Operating lease right-of-use assets 3,734 3,584 Finance lease assets Property and equipment, net 825 1,338 Total lease assets $ 7,469 $ 8,342 Liabilities Current Operating - Fleet (1) Current maturities of operating leases $ 551 $ 552 Operating - Ground and other Current maturities of operating leases 212 207 Finance Current maturities of debt and finance leases 374 358 Noncurrent Operating - Fleet (1) Noncurrent operating leases 2,627 3,226 Operating - Ground and other Noncurrent operating leases 3,187 3,242 Finance Debt and finance leases 473 1,086 Total lease liabilities $ 7,424 $ 8,671 Weighted-average remaining lease term Operating leases 12 years 13 years Finance leases 3 years 4 years Weighted-average discount rate Operating leases 4.28 % 3.73 % Finance leases 3.53 % 3.12 % (1) Includes mainline and regional aircraft leases, regional aircraft leases embedded within our capacity purchase arrangements and engine leases. The interest portion of straight-line rent expense related to fleet operating leases was $165 million and $189 million during the years ended December 31, 2024 and 2023, respectively.
Schedule of Lease, Cost	The table below presents certain information related to the lease costs for finance and operating leases. Lease cost by category Year Ended December 31, (in millions) 2024 2023 2022 Finance lease cost Amortization of leased assets $ 88 $ 109 $ 120 Interest of lease liabilities 54 42 45 Operating lease cost (1) 974 981 949 Short-term lease cost (1) 206 258 281 Variable lease cost (1) 2,902 2,230 1,859 Total lease cost $ 4,224 $ 3,620 $ 3,254 (1) Expenses are primarily classified within aircraft rent, landing fees and other rents and regional carrier expense on our income statement. The table below presents supplemental cash flow information related to leases. Supplemental lease-related cash flow information Year Ended December 31, (in millions) 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 1,225 $ 1,230 $ 809 Operating cash flows for finance leases 56 71 49 Financing cash flows for finance leases 190 264 363
Schedule of Future Cash Flows and Reconciliation to the Balance Sheet, Operating Leases	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets. Future lease cash flows and reconciliation to the balance sheet (in millions) Operating Leases Finance Leases 2025 $ 993 $ 395 2026 917 90 2027 880 268 2028 781 40 2029 620 28 Thereafter 4,183 76 Total minimum lease payments 8,374 897 Less: amount of lease payments representing interest (1,797) (50) Present value of future minimum lease payments 6,577 847 Less: current obligations under leases (763) (374) Long-term lease obligations $ 5,814 $ 473
Schedule of Future Cash Flows and Reconciliation to the Balance Sheet, Finance Leases	The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the finance lease liabilities and operating lease liabilities recorded on the balance sheets. Future lease cash flows and reconciliation to the balance sheet (in millions) Operating Leases Finance Leases 2025 $ 993 $ 395 2026 917 90 2027 880 268 2028 781 40 2029 620 28 Thereafter 4,183 76 Total minimum lease payments 8,374 897 Less: amount of lease payments representing interest (1,797) (50) Present value of future minimum lease payments 6,577 847 Less: current obligations under leases (763) (374) Long-term lease obligations $ 5,814 $ 473

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Benefit Obligations, Fair Value of Plan Assets, and Funded Status	Benefit Obligations, Fair Value of Plan Assets and Funded Status Pension Benefits December 31, Other Postretirement and Postemployment Benefits December 31, (in millions) 2024 2023 2024 2023 Benefit obligation at beginning of period $ 15,911 $ 15,811 $ 3,503 $ 3,664 Service cost (1) 233 95 92 71 Interest cost 820 855 182 200 Actuarial (gain)/loss (738) 351 (50) 24 Benefits paid, including lump sums and annuities (1,259) (1,201) (497) (485) Plan amendments — — — 11 Participant contributions — — 30 18 Special termination benefits — — 5 — Benefit obligation at end of period (2) $ 14,967 $ 15,911 $ 3,265 $ 3,503 Fair value of plan assets at beginning of period $ 15,766 $ 15,721 $ 33 $ 71 Actual gain on plan assets 1,142 1,142 (7) 3 Employer contributions 256 104 468 426 Participant contributions — — 30 18 Benefits paid, including lump sums and annuities (1,259) (1,201) (497) (485) Fair value of plan assets at end of period $ 15,905 $ 15,766 $ 27 $ 33 Funded status at end of period $ 938 $ (145) $ (3,238) $ (3,470) (1) Service cost shown above relates to the market based cash balance plan. There is no service cost associated with traditional frozen defined benefit plans. (2) At the end of each year presented, our accumulated benefit obligations for our pension plans are equal to the benefit obligations shown above.
Schedule of Amounts Balance Sheet Position	Balance Sheet Position Pension Benefits December 31, Other Postretirement and Postemployment Benefits December 31, (in millions) 2024 2023 2024 2023 Other noncurrent assets $ 1,005 $ 22 $ — $ — Current liabilities (9) (9) (430) (404) Noncurrent liabilities (58) (158) (2,808) (3,066) Funded status at end of period $ 938 $ (145) $ (3,238) $ (3,470) Net actuarial loss $ (5,407) $ (6,474) $ (103) $ (162) Prior service credit — — (3) 1 Total accumulated other comprehensive loss, pre-tax $ (5,407) $ (6,474) $ (106) $ (161)
Schedule of Net Periodic Cost (Benefit)	Net Periodic Cost/(Benefit) Pension Benefits Year Ended December 31, Other Postretirement and Postemployment Benefits Year Ended December 31, (in millions) 2024 2023 2022 2024 2023 2022 Service cost (1) $ 233 $ 95 $ — $ 92 $ 71 $ 70 Interest cost 820 855 611 182 200 128 Expected return on plan assets (1,062) (1,060) (1,319) (2) (1) (17) Amortization of prior service credit — — — (4) (5) (5) Recognized net actuarial loss 248 240 255 18 14 56 Special termination benefits — — — 5 — — Net periodic cost/(benefit) $ 239 $ 130 $ (453) $ 291 $ 279 $ 232 (1) Service cost shown above relates to the market based cash balance plan. There is no service cost associated with traditional frozen defined benefit plans.
Schedule of Assumptions Used to Determine Benefit Obligations and Net Periodic Costs/ (Benefit)	We used the following actuarial assumptions to determine our benefit obligations and our net periodic cost/(benefit) for the periods presented: December 31, Benefit Obligations (1) 2024 2023 Weighted average discount rate 5.71 % 5.31 % Year Ended December 31, Net Periodic Cost/(Benefit) (1) 2024 2023 2022 Weighted average discount rate 5.33 % 5.59 % 2.96 % Weighted average expected long-term rate of return on plan assets 6.97 % 7.00 % 7.00 % Assumed healthcare cost trend rate for the next year (2) 6.50 % 6.25 % 6.50 % (1) Future employee compensation levels do not impact our frozen defined benefit pension plans or other postretirement plans and impact only a small portion of our other postemployment obligation. (2) Healthcare cost trend rate is assumed to decline gradually to 5.00% by 2033 and remain unchanged thereafter.
Schedule of Expected Future Benefit Payments	The following table summarizes the benefit payments that are expected to be paid in the years ending December 31: Expected future benefit payments (in millions) Pension Benefits Other Postretirement and Postemployment Benefits 2025 $ 1,330 $ 470 2026 1,350 470 2027 1,360 490 2028 1,350 500 2029 1,350 510 2030-2034 6,630 2,590
Schedule of Benefit Plan Assets Measured at Fair Value on Recurring Basis	The following table shows our benefit plan assets by asset class. Benefit plan assets measured at fair value on a recurring basis December 31, 2024 December 31, 2023 Valuation Technique (in millions) Level 1 Level 2 Total Level 1 Level 2 Total Fixed income and fixed income-related instruments $ 85 $ 1,080 $ 1,165 $ 300 $ 1,858 $ 2,158 (a)(b) Cash equivalents 330 138 468 471 685 1,156 (a) Equities and equity-related instruments 978 3 981 647 122 769 (a) Delta common stock 595 — 595 419 — 419 (a) Real assets — 25 25 11 236 247 (a) Benefit plan assets $ 1,988 $ 1,246 $ 3,234 $ 1,848 $ 2,901 $ 4,749 Investments measured at net asset value ("NAV") (1) 12,438 11,417 Total benefit plan assets $ 15,672 $ 16,166 (1) Investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy.
Schedule of Benefit Plan Investments Assets Measured at NAV	The following table summarizes investments measured at fair value based on NAV per share as a practical expedient: Benefit plan investment assets measured at NAV December 31, 2024 December 31, 2023 (in millions) Fair Value Redemption Frequency Redemption Notice Period Fair Value Redemption Frequency Redemption Notice Period Hedge funds and hedge fund-related strategies $ 6,519 (1) 15-180 Days $ 6,175 (1) 7-180 Days Commingled funds, private equity and private equity-related instruments (4) 2,351 (1) (2) 2-45 Days 2,279 (1) (2) 2-45 Days Fixed income and fixed income-related instruments (4) 1,427 (1) (2) 1-180 Days 1,147 (1) (2) 1-180 Days Real assets (4) 979 (2) N/A 893 (2) N/A Balanced allocation 349 (5) 0 Days 100 (5) 0 Days Other 813 (3) 2-10 Days 823 (3) 2-10 Days Total investments measured at NAV $ 12,438 $ 11,417 (1) Various. Includes funds with monthly or more frequent, quarterly and/or custom redemption frequencies as well as funds with a redemption window following the anniversary of the initial investment. (2) Includes private funds that are closed-ended structures in which the plans' investments are generally not eligible for redemption. (3) Includes funds with monthly or more frequent redemptions. (4) Unfunded commitments were $1.3 billion for commingled funds, private equity and private equity-related instruments, $287 million for fixed income and fixed income-related instruments and $618 million for real assets at December 31, 2024. (5) Includes funds with daily redemptions.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Aircraft Purchase Commitments	Our future aircraft purchase commitments totaled approximately $18.3 billion at December 31, 2024: Aircraft purchase commitments (1) (in millions) Total 2025 $ 3,340 2026 5,020 2027 4,430 2028 3,880 2029 1,250 Thereafter 370 Total $ 18,290 (1) The timing of these commitments is based on our contractual agreements with the aircraft manufacturers and remains uncertain due to supply chain, manufacturing and regulatory constraints. Our future aircraft purchase commitments included the following aircraft at December 31, 2024: Aircraft purchase commitments by fleet type Fleet Type Purchase Commitments A220-300 72 A321-200neo 86 A330-900neo 7 A350-900 9 A350-1000 20 B-737-10 100 Total 294
Schedule of Contract Carrier Minimum Obligations	The obligations set forth in the table contemplate minimum levels of flying by the regional carriers under the respective agreements and also reflect assumptions regarding certain costs associated with the minimum levels of flying such as the cost of fuel, labor, maintenance, insurance, catering, property tax and landing fees. Accordingly, our actual payments under these agreements could differ materially from the minimum fixed obligations set forth in the table below. Contract carrier minimum obligations (in millions) Amount 2025 $ 1,750 2026 1,650 2027 1,590 2028 1,290 2029 710 Thereafter 680 Total $ 7,670
Schedule of Domestic Airline Employees Represented by Collective Bargaining Agreements by Group	Domestic airline employees represented by collective bargaining agreements by group Employee Group Approximate Number of Employees Represented Union Date on which Collective Bargaining Agreement Becomes Amendable Delta Pilots 17,380 ALPA December 31, 2026 Delta Flight Superintendents (Dispatchers) (1) 500 PAFCA November 1, 2024 Endeavor Pilots 1,540 ALPA January 1, 2029 Endeavor Flight Attendants 1,700 AFA March 31, 2027 (1) We are in discussions with representatives of PAFCA regarding terms of the collective bargaining agreement that became amendable on November 1, 2024.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Benefit (Provision)	Components of income tax provision Year Ended December 31, (in millions) 2024 2023 2022 Current tax provision: Federal $ — $ — $ — State and local (35) (8) (1) International (11) (11) (4) Deferred tax (provision) benefit: Federal (1,038) (896) (525) State and local (117) (84) (66) Income tax provision $ (1,201) $ (999) $ (596)
Schedule of Effective Income Tax Rate Reconciliation	The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal statutory income tax rate: Reconciliation of statutory federal income tax rate to the effective income tax rate Year Ended December 31, 2024 2023 2022 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 2.6 2.0 3.0 Permanent differences 1.0 0.7 1.0 Valuation allowance 1.9 (5.0) 7.3 Other (0.7) (0.9) (1.1) Effective income tax rate 25.8 % 17.8 % 31.2 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of deferred income tax assets and liabilities December 31, (in millions) 2024 2023 Deferred tax assets: Net operating loss carryforwards $ 799 $ 1,217 Capital loss carryforward — 8 Pension, postretirement and other benefits 1,205 1,488 Investments 936 806 Deferred revenue 2,158 2,110 Lease liabilities 2,816 2,193 Other 608 709 Valuation allowance (951) (877) Total deferred tax assets $ 7,571 $ 7,654 Deferred tax liabilities: Depreciation $ 7,040 $ 5,570 Operating lease assets 1,369 1,533 Intangible assets 1,165 1,143 Other 78 73 Total deferred tax liabilities $ 9,652 $ 8,319 Balance Sheet Position: Other noncurrent assets $ 95 $ 243 Deferred income taxes, net 2,176 908 Net deferred tax liabilities $ 2,081 $ 665
Schedule of Valuation Allowance on Deferred Income Tax Assets	The following table presents the balance of our valuation allowance on our deferred income tax assets and the associated activity: Valuation allowance activity (in millions) 2024 2023 Balance at January 1 $ 877 $ 1,176 Tax provision 74 (299) Balance at December 31 $ 951 $ 877

EQUITY AND EQUITY COMPENSATION

EQUITY AND EQUITY COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Warrants	Key terms under each program as of December 31, 2024 are as follows: Summary of payroll support program warrants (in millions, except exercise price) Number of Warrants Exercise Price Expiration Year Payroll Support Program (PSP1) 6.9 $ 23.99 2025 Payroll Support Program Extension (PSP2) 2.4 39.11 2026 Payroll Support Program 3 (PSP3) 1.9 47.05 2026 Total 11.2
Schedule of Restricted Stock Activity	Restricted stock activity under the Plan for the years ended December 31, 2024, 2023 and 2022 is as follows: Restricted stock award activity 2024 2023 2022 Restricted Stock Awards Weighted-Average Restricted Stock Awards Weighted-Average Restricted Stock Awards Weighted-Average (in millions, except weighted avg grant price) Outstanding at January 1 4.2 $ 40.51 3.1 $ 43.43 2.9 $ 45.66 Granted 2.6 40.75 2.7 39.63 1.9 42.45 Vested (2.3) 40.60 (1.5) 44.79 (1.6) 46.31 Forfeited (0.2) 40.49 (0.1) 40.94 (0.1) 45.51 Outstanding at December 31 4.3 $ 40.60 4.2 $ 40.51 3.1 $ 43.43
Schedule of Stock Option Activity	Stock option activity under the Plan for the years ended December 31, 2024, 2023 and 2022 is as follows: Stock option activity 2024 2023 2022 Stock Options Weighted-Average Stock Options Weighted-Average Stock Options Weighted-Average (in millions, except weighted avg grant price) Outstanding at January 1 6.2 $ 50.42 6.2 $ 50.40 6.2 $ 50.41 Granted — — — — — — Exercised (1) (1.4) 50.35 — 39.78 — — Forfeited (1) — 52.89 — 51.91 — 52.87 Outstanding at December 31 4.8 $ 50.41 6.2 $ 50.42 6.2 $ 50.40 (1) Forfeitures in 2024, 2023 and 2022 and exercises in 2023 occurred, but round to zero in the table above.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	Components of accumulated other comprehensive loss (in millions) Pension and Other Benefits Liabilities (2) Other Tax Effect Total Balance at January 1, 2022 $ (8,355) $ 41 $ 1,184 $ (7,130) Changes in value 1,419 — (330) 1,089 Reclassifications into earnings (1) 312 — (72) 240 Balance at December 31, 2022 (6,624) 41 782 (5,801) Changes in value (303) (1) 71 (233) Reclassifications into earnings (1) 246 — (57) 189 Balance at December 31, 2023 (6,681) 40 796 (5,845) Changes in value 859 2 (199) 662 Reclassifications into earnings (1) 265 — (61) 204 Balance at December 31, 2024 $ (5,557) $ 42 $ 536 $ (4,979) (1) Amounts reclassified from AOCI for pension and other benefits liabilities are recorded in miscellaneous, net in non-operating expense in our income statement. (2) Includes approximately $750 million of deferred income tax expense as a result of tax law changes and prior valuation allowance releases through continuing operations, that will not be recognized in net income until pension and other benefit obligations are fully extinguished.

SEGMENTS (Tables)

SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Financial Information by Segment	Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis. Our income tax provision is determined on a consolidated basis and is not calculated at the segment level. Financial information by segment (in millions) Airline Refinery Intersegment Sales/Other Consolidated Year Ended December 31, 2024 Operating revenue $ 57,001 $ 7,767 $ (3,125) (1) $ 61,643 Airline salaries and related costs 16,161 Aircraft fuel and related costs 10,566 Refinery cost of goods sold (2) 7,234 Depreciation and amortization 2,513 113 Other segment items (3) 21,804 382 Operating income (4) 5,957 38 5,995 Interest expense, net 747 3 (3) 747 Other non-operating expense 590 590 Income before income taxes 4,620 35 3 4,658 Total assets, end of period 72,979 2,418 (25) 75,372 Capital expenditures 5,075 65 5,140 Year Ended December 31, 2023 Operating revenue $ 54,669 $ 7,572 $ (4,193) (1) $ 58,048 Airline salaries and related costs 14,607 Aircraft fuel and related costs 11,069 Refinery cost of goods sold (2) 6,665 Depreciation and amortization 2,341 94 Other segment items (3) 21,516 428 Operating income (4) 5,136 385 5,521 Interest expense, net 834 17 (17) 834 Other non-operating income 921 921 Income before income taxes 5,223 368 17 5,608 Total assets, end of period 71,529 2,174 (59) 73,644 Capital expenditures 5,088 235 5,323 Year Ended December 31, 2022 Operating revenue $ 45,605 $ 10,706 $ (5,729) (1) $ 50,582 Airline salaries and related costs 11,902 Aircraft fuel and related costs 11,482 Refinery cost of goods sold (2) 9,442 Depreciation and amortization 2,107 93 Other segment items (3) 17,230 394 Operating income (4) 2,884 777 3,661 Interest expense, net 1,029 12 (12) 1,029 Other non-operating expense 718 718 Income before income taxes 1,137 765 12 1,914 Total assets, end of period 69,355 3,039 (106) 72,288 Capital expenditures 6,217 149 6,366 (1) See table below for detail of the intersegment operating revenue amounts. (2) Refinery cost of goods sold are included within aircraft fuel and related taxes and ancillary businesses and refinery in our income statement. (3) The nature of other segment items for the airline segment are shown on the income statement and for the refinery segment include salaries and related costs, maintenance, utilities and other expenses. (4) Refinery segment operating results are included within aircraft fuel and related taxes in our income statement. Operating revenue intersegment sales/other Year Ended December 31, (in millions) 2024 2023 2022 Sales to airline segment (1) $ (1,421) $ (1,535) $ (1,976) Exchanged products (2) (1,473) (2,354) (3,475) Sales of refined products (231) (304) (278) Total operating revenue intersegment sales/other $ (3,125) $ (4,193) $ (5,729) (1) Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price for jet fuel from the refinery by reference to the market index for the primary delivery location, which is New York Harbor. (2) Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table shows our computation: Basic and diluted earnings per share Year Ended December 31, (in millions, except per share data) 2024 2023 2022 Net income $ 3,457 $ 4,609 $ 1,318 Basic weighted average shares outstanding 641 639 638 Dilutive effect of share-based instruments 7 4 3 Diluted weighted average shares outstanding 648 643 641 Basic earnings per share $ 5.39 $ 7.21 $ 2.07 Diluted earnings per share $ 5.33 $ 7.17 $ 2.06

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents, and Restricted Cash Reconciliation (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,069	$ 2,741	$ 3,266
Restricted cash included in prepaid expenses and other	168	199	138
Noncurrent assets:
Restricted cash included in other noncurrent assets	184	455	69
Total cash, cash equivalents and restricted cash	$ 3,421	$ 3,395	$ 3,473	$ 8,569

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Derivative contracts, net	$ 17,000,000	$ 5,000,000
Depreciation and amortization expense related to property and equipment	2,513,000,000	2,341,000,000	$ 2,107,000,000
Amortization of capitalized software	324,000,000	340,000,000	307,000,000
Net book value of capitalized software	933,000,000	932,000,000
Fuel card obligation	1,100,000,000	1,100,000,000
Advertising expense	438,000,000	347,000,000	$ 302,000,000
Fuel Card Obligation
Summary of Significant Accounting Policies [Line Items]
Purchasing card maximum limit	1,100,000,000
Fuel card obligation	$ 1,100,000,000	$ 1,100,000,000
Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated residual value (percent)	5%
Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated residual value (percent)	10%
Software and software development costs | Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Software and software development costs | Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment, net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (23,228)	$ (21,707)
Total property and equipment, net	37,595	35,486
Flight equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 44,722	40,976
Flight equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Flight equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	34 years
Ground property and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 10,695	9,986
Ground property and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Ground property and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Information technology-related assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,135	3,307
Information technology-related assets | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Information technology-related assets | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	15 years
Flight and ground equipment under finance leases
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,196	1,862
Less: accumulated depreciation and amortization	(371)	(525)
Advance payments for equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,075	$ 1,062

REVENUE RECOGNITION - Passenger

REVENUE RECOGNITION - Passenger Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total passenger revenue	$ 61,643	$ 58,048	$ 50,582
Passenger
Disaggregation of Revenue [Line Items]
Total passenger revenue	50,894	48,909	40,218
Ticket
Disaggregation of Revenue [Line Items]
Total passenger revenue	45,096	43,596	35,626
Loyalty travel awards
Disaggregation of Revenue [Line Items]
Total passenger revenue	3,841	3,462	2,898
Travel-related services
Disaggregation of Revenue [Line Items]
Total passenger revenue	$ 1,957	$ 1,851	$ 1,694

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized that was previously recorded in air traffic liability	$ 6.5	$ 7.4	$ 4.2
Marketing contracts initial terms, minimum (in years)	1 year
Marketing contracts initial terms, maximum (in years)	13 years
Cash sales of miles from marketing agreements	$ 7.4	$ 6.9	$ 5.7
Majority of new miles, redemption period (in years)	2 years

REVENUE RECOGNITION - Loyalty P

REVENUE RECOGNITION - Loyalty Program Liability (Details) - Loyalty program deferred revenue - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Loyalty Program
Current and noncurrent deferred revenue, beginning	$ 8,420	$ 7,882	$ 7,559
Miles earned	4,463	4,173	3,419
Travel miles redeemed	(3,841)	(3,462)	(2,898)
Non-travel miles redeemed	(216)	(173)	(198)
Current and noncurrent deferred revenue, ending	$ 8,826	$ 8,420	$ 7,882

REVENUE RECOGNITION - Other Rev

REVENUE RECOGNITION - Other Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 61,643	$ 58,048	$ 50,582
Other
Disaggregation of Revenue [Line Items]
Total operating revenue	9,927	8,416	9,314
Refinery
Disaggregation of Revenue [Line Items]
Total operating revenue	4,642	3,379	4,977
Loyalty program
Disaggregation of Revenue [Line Items]
Total operating revenue	3,297	3,093	2,597
Ancillary businesses
Disaggregation of Revenue [Line Items]
Total operating revenue	772	840	846
Miscellaneous
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 1,216	$ 1,104	$ 894

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Geographic Region (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Operating revenue	$ 61,643	$ 58,048	$ 50,582
Domestic
Disaggregation of Revenue [Line Items]
Operating revenue	43,508	40,845	38,478
Atlantic
Disaggregation of Revenue [Line Items]
Operating revenue	10,535	10,458	7,429
Latin America
Disaggregation of Revenue [Line Items]
Operating revenue	4,564	4,292	3,334
Pacific
Disaggregation of Revenue [Line Items]
Operating revenue	3,036	2,453	1,341
Passenger
Disaggregation of Revenue [Line Items]
Operating revenue	50,894	48,909	40,218
Passenger | Domestic
Disaggregation of Revenue [Line Items]
Operating revenue	35,226	33,968	30,197
Passenger | Atlantic
Disaggregation of Revenue [Line Items]
Operating revenue	9,133	9,057	6,093
Passenger | Latin America
Disaggregation of Revenue [Line Items]
Operating revenue	3,995	3,798	2,889
Passenger | Pacific
Disaggregation of Revenue [Line Items]
Operating revenue	$ 2,540	$ 2,086	$ 1,039

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurements on a Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value
Cash equivalents	$ 1,619	$ 1,545
Restricted cash equivalents	351	653
Long-term investments and related	2,372	2,867
U.S. Government securities
Fair Value
Short-term investments		859
Corporate obligations
Fair Value
Short-term investments		218
Other fixed income securities
Fair Value
Short-term investments		50
Fuel hedge contracts
Fair Value
Fuel hedge contracts	(17)	5
Level 1
Fair Value
Cash equivalents	1,619	1,545
Restricted cash equivalents	351	653
Long-term investments and related	2,085	2,614
Level 1 | U.S. Government securities
Fair Value
Short-term investments		204
Level 1 | Corporate obligations
Fair Value
Short-term investments		0
Level 1 | Other fixed income securities
Fair Value
Short-term investments		0
Level 1 | Fuel hedge contracts
Fair Value
Fuel hedge contracts	0	0
Level 2
Fair Value
Cash equivalents	0	0
Restricted cash equivalents	0	0
Long-term investments and related	160	134
Level 2 | U.S. Government securities
Fair Value
Short-term investments		655
Level 2 | Corporate obligations
Fair Value
Short-term investments		218
Level 2 | Other fixed income securities
Fair Value
Short-term investments		50
Level 2 | Fuel hedge contracts
Fair Value
Fuel hedge contracts	(17)	5
Level 3
Fair Value
Cash equivalents	0	0
Restricted cash equivalents	0	0
Long-term investments and related	127	119
Level 3 | U.S. Government securities
Fair Value
Short-term investments		0
Level 3 | Corporate obligations
Fair Value
Short-term investments		0
Level 3 | Other fixed income securities
Fair Value
Short-term investments		0
Level 3 | Fuel hedge contracts
Fair Value
Fuel hedge contracts	$ 0	$ 0

FAIR VALUE MEASUREMENTS- Narrat

FAIR VALUE MEASUREMENTS- Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fuel hedge contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loss on derivatives recognized	$ 31	$ 6	$ 394

INVESTMENTS - Equity Investment

INVESTMENTS - Equity Investments Ownership Interest and Carrying Value (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Equity Investments
Equity investments	$ 2,846	$ 3,457
Air France-KLM
Equity Investments
Ownership Interest	3%	3%
Carrying Value	$ 62	$ 110
China Eastern
Equity Investments
Ownership Interest	2%	2%
Carrying Value	$ 155	$ 134
Hanjin-KAL
Equity Investments
Ownership Interest	15%	15%
Carrying Value	$ 507	$ 561
Hanjin-KAL | Common and Preferred Shares
Equity Investments
Ownership Interest	14.80%
Hanjin-KAL | Common Stock
Equity Investments
Ownership Interest	14.90%
LATAM
Equity Investments
Ownership Interest	10%	10%
Carrying Value	$ 837	$ 658
Wheels Up
Equity Investments
Ownership Interest	38%	38%
Carrying Value	$ 435	$ 903
Voting rights, shares held threshold	29.90%
Other investments
Equity Investments
Carrying Value	$ 350	$ 508
Grupo Aeroméxico
Equity Investments
Ownership Interest	20%	20%
Carrying Value	$ 354	$ 421
Unifi Aviation
Equity Investments
Ownership Interest	49%	49%
Carrying Value	$ 146	$ 162

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	3 Months Ended
	Dec. 31, 2024 USD ($)
Virgin Atlantic
Schedule of Equity Method Investments [Line Items]
Carrying value of equity investment	$ 0
Ownership interest	49%
Unrecognized equity method losses	$ 480,000,000
Revolving Credit Facility | Revolving Equipment Notes Facility
Schedule of Equity Method Investments [Line Items]
Debt instrument term	5 years
Line of credit borrowing capacity	$ 332,000,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Valuation of Goodwill and Indefinite-Lived Intangible (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Goodwill and indefinite-lived intangible assets
Goodwill	$ 9,753	$ 9,753
Total	15,671	15,671
International routes and slots
Goodwill and indefinite-lived intangible assets
Indefinite-lived intangibles	2,583	2,583
Airline alliances
Goodwill and indefinite-lived intangible assets
Indefinite-lived intangibles	1,863	1,863
Delta tradename
Goodwill and indefinite-lived intangible assets
Indefinite-lived intangibles	850	850
Domestic slots
Goodwill and indefinite-lived intangible assets
Indefinite-lived intangibles	$ 622	$ 622

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Definite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Gross Carrying Value	$ 976	$ 976
Accumulated Amortization	(919)	(911)
Marketing agreements
Finite-Lived Intangible Assets
Gross Carrying Value	730	730
Accumulated Amortization	(712)	(708)
Maintenance contracts
Finite-Lived Intangible Assets
Gross Carrying Value	192	192
Accumulated Amortization	(154)	(150)
Other
Finite-Lived Intangible Assets
Gross Carrying Value	54	54
Accumulated Amortization	$ (53)	$ (53)

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 9	$ 9	$ 9
Estimated amortization expense in 2025	7
Estimated amortization expense in 2026	7
Estimated amortization expense in 2027	7
Estimated amortization expense in 2028	7
Estimated amortization expense in 2029	$ 7

DEBT - Summary of Debt (Details

DEBT - Summary of Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total secured and unsecured debt	$ 15,373	$ 18,693
Unamortized (discount)/premium and debt issuance cost, net and other	(26)	(83)
Total debt	15,347	18,610
Less: current maturities	(1,801)	(2,625)
Total long-term debt	$ 13,546	15,985
Unsecured Payroll Support Program Loans | Unsecured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2030
Maturity dates range, end	Dec. 31, 2031
Interest rate per annum (percent)	1%
Total secured and unsecured debt	$ 3,496	3,496
Debt instrument term	5 years
Debt instrument, basis spread interest rate	2%
Unsecured notes | Unsecured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2029
Total secured and unsecured debt	$ 1,575	2,590
Unsecured notes | Unsecured Debt | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	3.75%
Unsecured notes | Unsecured Debt | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	7.38%
SkyMiles Notes | Secured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2028
Total secured and unsecured debt	$ 3,970	4,518
SkyMiles Notes | Secured Debt | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	4.50%
SkyMiles Notes | Secured Debt | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	4.75%
SkyMiles Term Loan | Secured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2027
Interest rate per annum (percent)	8.37%
Total secured and unsecured debt	$ 784	1,772
NYTDC Special Facilities Revenue Bonds, Series | Bonds
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2045
Total secured and unsecured debt	$ 3,591	3,656
NYTDC Special Facilities Revenue Bonds, Series | Bonds | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	4%
NYTDC Special Facilities Revenue Bonds, Series | Bonds | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	6%
Financings secured by aircraft - Certificates | Secured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2028
Total secured and unsecured debt	$ 992	1,591
Financings secured by aircraft - Certificates | Secured Debt | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	2%
Financings secured by aircraft - Certificates | Secured Debt | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	8%
Financings secured by aircraft - Notes | Secured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2033
Total secured and unsecured debt	$ 87	165
Financings secured by aircraft - Notes | Secured Debt | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	6.62%
Financings secured by aircraft - Notes | Secured Debt | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	6.86%
Senior Secured Notes 2025 | Secured Debt
Debt Instrument [Line Items]
Maturity date	Dec. 31, 2025
Interest rate per annum (percent)	7%
Total secured and unsecured debt	$ 812	838
Other financings | Secured and unsecured Debt
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2030
Total secured and unsecured debt	$ 66	67
Other financings | Secured and unsecured Debt | Minimum
Debt Instrument [Line Items]
Interest rate per annum (percent)	2.51%
Other financings | Secured and unsecured Debt | Maximum
Debt Instrument [Line Items]
Interest rate per annum (percent)	5%
Corporate Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2026
Maturity dates range, end	Dec. 31, 2028
Total secured and unsecured debt	$ 0	0
Other revolving credit facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Maturity dates range, start	Dec. 31, 2025
Maturity dates range, end	Dec. 31, 2026
Total secured and unsecured debt	$ 0	$ 0

DEBT - Early Settlement of Outs

DEBT - Early Settlement of Outstanding Loans and Notes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Repayment of principal	$ 844
Loss on extinguishment of debt	39	$ 63	$ 100
Secured and unsecured Debt
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 39

DEBT - Availability Under Revol

DEBT - Availability Under Revolving Facilities (Details) $ in Billions	Dec. 31, 2024 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from revolving credit facilities	$ 3.1

DEBT - Fair Value of Debt (Deta

DEBT - Fair Value of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Net carrying amount	$ 15,347	$ 18,610
Fair value	$ 15,300	$ 18,400

DEBT - Covenants (Details)

DEBT - Covenants (Details) - SkyMiles program $ in Millions	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Minimum liquidity covenant	$ 2,000
Aggregate limit on sale of pre-paid miles covenant	$ 550

DEBT - Future Maturities (Detai

DEBT - Future Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Total Debt
2025	$ 1,798
2026	2,313
2027	2,133
2028	1,884
2029	621
Thereafter	6,624
Total	15,373	$ 18,693
Amortization of Debt (Discount)/Premium and Debt Issuance Cost, net and other
2025	(29)
2026	(3)
2027	2
2028	0
2029	2
Thereafter	2
Total	(26)	(83)
Total debt	$ 15,347	$ 18,610

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Dec. 31, 2024 airport lease aircraft
Aircraft
Lessee, Lease, Description [Line Items]
Number of leases	170
Number of finance leases	55
Number of operating leases	115
Lease component of purchase agreements, number of aircraft | aircraft	119
Aircraft | Minimum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	3 months
Remaining term of finance leases	3 months
Aircraft | Maximum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	11 years
Remaining term of finance leases	11 years
Airport Facilities
Lessee, Lease, Description [Line Items]
Number of airports with facility space under lease | airport	300
Airport Facilities | Minimum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	1 month
Airport Facilities | Maximum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	29 years
Other Ground Property and Equipment | Minimum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	1 month
Remaining term of finance leases	1 month
Other Ground Property and Equipment | Maximum
Lessee, Lease, Description [Line Items]
Remaining term of operating leases	5 years
Remaining term of finance leases	5 years

LEASES - Lease Position (Detail

LEASES - Lease Position (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Assets
Current operating lease assets	$ 6,644	$ 7,004
Finance lease assets	$ 825	$ 1,338
Finance lease asset, balance sheet	Property and equipment, net of accumulated depreciation and amortization of $23,228 and $21,707	Property and equipment, net of accumulated depreciation and amortization of $23,228 and $21,707
Total lease assets	$ 7,469	$ 8,342
Liabilities
Current operating lease liabilities	763	759
Current finance lease liabilities	$ 374	$ 358
Finance lease liability, current, balance sheet	Current maturities of debt and finance leases	Current maturities of debt and finance leases
Noncurrent operating leases	$ 5,814	$ 6,468
Noncurrent finance lease liabilities	$ 473	$ 1,086
Finance lease liability, noncurrent, balance sheet	Debt and finance leases	Debt and finance leases
Total lease liabilities	$ 7,424	$ 8,671
Operating leases, weighted-average remaining lease term	12 years	13 years
Finance leases, weighted-average remaining lease term	3 years	4 years
Operating leases, weighted-average discount rate	4.28%	3.73%
Finance leases, weighted-average discount rate	3.53%	3.12%
Fleet Lease
Assets
Current operating lease assets	$ 2,910	$ 3,420
Liabilities
Current operating lease liabilities	551	552
Noncurrent operating leases	2,627	3,226
Operating leases, interest	165	189
Ground and Other Lease
Assets
Current operating lease assets	3,734	3,584
Liabilities
Current operating lease liabilities	212	207
Noncurrent operating leases	$ 3,187	$ 3,242

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Finance lease cost, amortization of leased assets	$ 88	$ 109	$ 120
Finance lease cost, interest of lease liabilities	54	42	45
Operating lease cost	974	981	949
Short-term lease cost	206	258	281
Variable lease cost	2,902	2,230	1,859
Total lease cost	$ 4,224	$ 3,620	$ 3,254

LEASES - Other Information (Det

LEASES - Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows for operating leases	$ 1,225	$ 1,230	$ 809
Operating cash flows for finance leases	56	71	49
Financing cash flows for finance leases	$ 190	$ 264	$ 363

LEASES - Undiscounted Cash Flow

LEASES - Undiscounted Cash Flows (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 993
2026	917
2027	880
2028	781
2029	620
Thereafter	4,183
Total minimum lease payments	8,374
Less: amount of lease payments representing interest	(1,797)
Present value of future minimum lease payments	6,577
Less: current obligations under leases	(763)	$ (759)
Long-term lease obligations	5,814	6,468
Finance Leases
2025	395
2026	90
2027	268
2028	40
2029	28
Thereafter	76
Total minimum lease payments	897
Less: amount of lease payments representing interest	(50)
Present value of future minimum lease payments	847
Less: current obligations under leases	(374)	(358)
Long-term lease obligations	$ 473	$ 1,086

AIRPORT REDEVELOPMENT (Details)

AIRPORT REDEVELOPMENT (Details) - USD ($)	12 Months Ended			96 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024
Agreements and Obligations [Line Items]
Operating lease right-of-use assets	$ 6,644,000,000	$ 7,004,000,000		$ 6,644,000,000
LAX Redevelopment Project
Agreements and Obligations [Line Items]
Total expected project costs		2,500,000,000
Expected net projects costs	700,000,000			700,000,000
Project costs reflected as investing cash flows				350,000,000
Project costs reflected as operating cash flows				350,000,000
Operating lease right-of-use assets	350,000,000			350,000,000
LAX Redevelopment Project | City of Los Angeles
Agreements and Obligations [Line Items]
Total appropriation to date by city	1,800,000,000			1,800,000,000
Maximum reimbursement by city	1,800,000,000			1,800,000,000
LaGuardia Airport Redevelopment Project
Agreements and Obligations [Line Items]
Total expected project costs	4,200,000,000			4,200,000,000
Port authority contribution to redevelopment project	500,000,000			$ 500,000,000
Amount spent on project costs	$ 300,000,000	$ 500,000,000	$ 650,000,000

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure
Estimated funding by employer in next fiscal year	$ 80
Defined contribution plan costs	$ 1,300	$ 1,200	$ 1,000
Assumed healthcare plan pre age	65 years
Assumed healthcare plan post age	65 years
Projected benefit obligation	$ 67
Weighted average expected long-term rate of return on plan assets	6.97%	7%	7%
Profit sharing	$ 1,389	$ 1,383	$ 563
Growth-seeking assets | Minimum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	20%
Growth-seeking assets | Maximum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	40%
Income-generating assets | Minimum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	25%
Income-generating assets | Maximum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	35%
Risk-diversifying assets | Minimum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	35%
Risk-diversifying assets | Maximum
Defined Benefit Plan Disclosure
Plan assets, target allocations (percent)	45%

EMPLOYEE BENEFIT PLANS - Benefi

EMPLOYEE BENEFIT PLANS - Benefit Obligations, Fair Value of Plan Assets and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits
Change in Benefit Obligation
Benefit obligation at beginning of period	$ 15,911	$ 15,811
Service cost	233	95	$ 0
Interest cost	820	855	611
Actuarial (gain)/loss	(738)	351
Benefits paid, including lump sums and annuities	(1,259)	(1,201)
Plan amendments	0	0
Participant contributions	0	0
Special termination benefits	0	0	0
Benefit obligation at end of period	14,967	15,911	15,811
Change in Fair Value of Plan Assets
Fair value of plan assets at beginning of period	15,766	15,721
Actual gain on plan assets	1,142	1,142
Employer contributions	256	104
Participant contributions	0	0
Benefits paid, including lump sums and annuities	(1,259)	(1,201)
Fair value of plan assets at end of period	15,905	15,766	15,721
Funded Status of Plan
Funded status at end of period	938	(145)
Other Postretirement and Postemployment Benefits
Change in Benefit Obligation
Benefit obligation at beginning of period	3,503	3,664
Service cost	92	71	70
Interest cost	182	200	128
Actuarial (gain)/loss	(50)	24
Benefits paid, including lump sums and annuities	(497)	(485)
Plan amendments	0	11
Participant contributions	30	18
Special termination benefits	5	0	0
Benefit obligation at end of period	3,265	3,503	3,664
Change in Fair Value of Plan Assets
Fair value of plan assets at beginning of period	33	71
Actual gain on plan assets	(7)	3
Employer contributions	468	426
Participant contributions	30	18
Benefits paid, including lump sums and annuities	(497)	(485)
Fair value of plan assets at end of period	27	33	$ 71
Funded Status of Plan
Funded status at end of period	$ (3,238)	$ (3,470)

EMPLOYEE BENEFIT PLANS - Balanc

EMPLOYEE BENEFIT PLANS - Balance Sheet Position (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position
Noncurrent liabilities	$ (3,144)	$ (3,601)
Pension Benefits
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position
Other noncurrent assets	1,005	22
Current liabilities	(9)	(9)
Noncurrent liabilities	(58)	(158)
Funded status at end of period	938	(145)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax
Net actuarial loss	(5,407)	(6,474)
Prior service credit	0	0
Total accumulated other comprehensive loss, pre-tax	(5,407)	(6,474)
Other Postretirement and Postemployment Benefits
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position
Other noncurrent assets	0	0
Current liabilities	(430)	(404)
Noncurrent liabilities	(2,808)	(3,066)
Funded status at end of period	(3,238)	(3,470)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax
Net actuarial loss	(103)	(162)
Prior service credit	(3)	1
Total accumulated other comprehensive loss, pre-tax	$ (106)	$ (161)

EMPLOYEE BENEFIT PLANS - Net Pe

EMPLOYEE BENEFIT PLANS - Net Periodic Cost/(Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits
Defined Benefit Plan Disclosure
Service cost	$ 233	$ 95	$ 0
Interest cost	820	855	611
Expected return on plan assets	(1,062)	(1,060)	(1,319)
Amortization of prior service credit	0	0	0
Recognized net actuarial loss	248	240	255
Special termination benefits	0	0	0
Net periodic cost/(benefit)	239	130	(453)
Other Postretirement and Postemployment Benefits
Defined Benefit Plan Disclosure
Service cost	92	71	70
Interest cost	182	200	128
Expected return on plan assets	(2)	(1)	(17)
Amortization of prior service credit	(4)	(5)	(5)
Recognized net actuarial loss	18	14	56
Special termination benefits	5	0	0
Net periodic cost/(benefit)	$ 291	$ 279	$ 232

EMPLOYEE BENEFIT PLANS - Assump

EMPLOYEE BENEFIT PLANS - Assumptions Used to Determine Benefit Obligation and Net Periodic Cost/(Benefit) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Weighted average discount rate	5.71%	5.31%
Weighted average discount rate	5.33%	5.59%	2.96%
Weighted average expected long-term rate of return on plan assets	6.97%	7%	7%
Assumed healthcare cost trend rate for the next year	6.50%	6.25%	6.50%
Ultimate healthcare cost trend rate	5%

EMPLOYEE BENEFIT PLANS - Expect

EMPLOYEE BENEFIT PLANS - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity
2025	$ 1,330
2026	1,350
2027	1,360
2028	1,350
2029	1,350
2030-2034	6,630
Other Postretirement and Postemployment Benefits
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity
2025	470
2026	470
2027	490
2028	500
2029	510
2030-2034	$ 2,590

EMPLOYEE BENEFIT PLANS - Bene_2

EMPLOYEE BENEFIT PLANS - Benefit Plan Assets Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Benefit plan assets by asset class
Benefit plan assets	$ 15,672	$ 16,166
Level 1 and Level 2
Benefit plan assets by asset class
Benefit plan assets	3,234	4,749
Level 1 and Level 2 | Fixed income and fixed income-related instruments
Benefit plan assets by asset class
Benefit plan assets	1,165	2,158
Level 1 and Level 2 | Cash equivalents
Benefit plan assets by asset class
Benefit plan assets	468	1,156
Level 1 and Level 2 | Equities and equity-related instruments
Benefit plan assets by asset class
Benefit plan assets	981	769
Level 1 and Level 2 | Delta common stock
Benefit plan assets by asset class
Benefit plan assets	595	419
Level 1 and Level 2 | Real assets
Benefit plan assets by asset class
Benefit plan assets	25	247
Level 1
Benefit plan assets by asset class
Benefit plan assets	1,988	1,848
Level 1 | Fixed income and fixed income-related instruments
Benefit plan assets by asset class
Benefit plan assets	85	300
Level 1 | Cash equivalents
Benefit plan assets by asset class
Benefit plan assets	330	471
Level 1 | Equities and equity-related instruments
Benefit plan assets by asset class
Benefit plan assets	978	647
Level 1 | Delta common stock
Benefit plan assets by asset class
Benefit plan assets	595	419
Level 1 | Real assets
Benefit plan assets by asset class
Benefit plan assets	0	11
Level 2
Benefit plan assets by asset class
Benefit plan assets	1,246	2,901
Level 2 | Fixed income and fixed income-related instruments
Benefit plan assets by asset class
Benefit plan assets	1,080	1,858
Level 2 | Cash equivalents
Benefit plan assets by asset class
Benefit plan assets	138	685
Level 2 | Equities and equity-related instruments
Benefit plan assets by asset class
Benefit plan assets	3	122
Level 2 | Delta common stock
Benefit plan assets by asset class
Benefit plan assets	0	0
Level 2 | Real assets
Benefit plan assets by asset class
Benefit plan assets	25	236
NAV
Benefit plan assets by asset class
Benefit plan assets	$ 12,438	$ 11,417

EMPLOYEE BENEFIT PLANS - Invest

EMPLOYEE BENEFIT PLANS - Investments Measured at NAV (Details) - NAV - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Investments measured at NAV
Fair value of investment measured at NAV	$ 12,438	$ 11,417
Hedge funds and hedge fund-related strategies
Investments measured at NAV
Fair value of investment measured at NAV	$ 6,519	$ 6,175
Hedge funds and hedge fund-related strategies | Minimum
Investments measured at NAV
Redemption notice period	15 days	7 days
Hedge funds and hedge fund-related strategies | Maximum
Investments measured at NAV
Redemption notice period	180 days	180 days
Commingled funds, private equity and private equity-related instruments
Investments measured at NAV
Fair value of investment measured at NAV	$ 2,351	$ 2,279
Unfunded commitments	$ 1,300
Commingled funds, private equity and private equity-related instruments | Minimum
Investments measured at NAV
Redemption notice period	2 days	2 days
Commingled funds, private equity and private equity-related instruments | Maximum
Investments measured at NAV
Redemption notice period	45 days	45 days
Fixed income and fixed income-related instruments
Investments measured at NAV
Fair value of investment measured at NAV	$ 1,427	$ 1,147
Unfunded commitments	$ 287
Fixed income and fixed income-related instruments | Minimum
Investments measured at NAV
Redemption notice period	1 day	1 day
Fixed income and fixed income-related instruments | Maximum
Investments measured at NAV
Redemption notice period	180 days	180 days
Real assets
Investments measured at NAV
Fair value of investment measured at NAV	$ 979	$ 893
Unfunded commitments	618
Balanced allocation
Investments measured at NAV
Fair value of investment measured at NAV	$ 349	$ 100
Redemption notice period	0 days	0 days
Other
Investments measured at NAV
Fair value of investment measured at NAV	$ 813	$ 823
Other | Minimum
Investments measured at NAV
Redemption notice period	2 days	2 days
Other | Maximum
Investments measured at NAV
Redemption notice period	10 days	10 days

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Aircraft Purchase Commitments and Contract Carrier Minimum Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Aircraft purchase commitments
Future commitments:
2025	$ 3,340
2026	5,020
2027	4,430
2028	3,880
2029	1,250
Thereafter	370
Total	18,290
Capacity purchase agreements
Future commitments:
2025	1,750
2026	1,650
2027	1,590
2028	1,290
2029	710
Thereafter	680
Total	$ 7,670

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Aircraft Purchase Commitments by Fleet Type (Details) - Aircraft purchase commitments	Dec. 31, 2024 aircraft
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	294
A220-300
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	72
A321-200neo
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	86
A330-900neo
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	7
A350-900
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	9
A350-1000
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	20
B-737-10
Future Purchase Commitments
Aircraft purchase commitments, minimum quantity required	100

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 employee aircraft
Future Purchase Commitments
Approximate number of employees | employee	103,000
Percentage of employees represented by unions under collective bargaining agreements	20%
Monroe refinery employees represented by United Steel Workers
Future Purchase Commitments
Approximate number of employees | employee	200
A350-1000
Future Purchase Commitments
Number of aircraft agreed to be acquired | aircraft	20
A350-1000 Widebody
Future Purchase Commitments
Number of optional additional aircrafts | aircraft	20

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Employees Under Collective Bargaining Agreements (Details)	Dec. 31, 2024 employee
Other Commitments [Line Items]
Approximate Number of Employees Represented	103,000
Delta Pilots
Other Commitments [Line Items]
Approximate Number of Employees Represented	17,380
Delta Flight Superintendents (Dispatchers)
Other Commitments [Line Items]
Approximate Number of Employees Represented	500
Endeavor Pilots
Other Commitments [Line Items]
Approximate Number of Employees Represented	1,540
Endeavor Flight Attendants
Other Commitments [Line Items]
Approximate Number of Employees Represented	1,700

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Benefit (Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax provision:
Federal	$ 0	$ 0	$ 0
State and local	(35)	(8)	(1)
International	(11)	(11)	(4)
Deferred tax (provision) benefit:
Federal	(1,038)	(896)	(525)
State and local	(117)	(84)	(66)
Income tax provision	$ (1,201)	$ (999)	$ (596)

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent
U.S. federal statutory income tax rate	21%	21%	21%
State taxes, net of federal benefit	2.60%	2%	3%
Permanent differences	1%	0.70%	1%
Valuation allowance	1.90%	(5.00%)	7.30%
Other	(0.70%)	(0.90%)	(1.10%)
Effective income tax rate	25.80%	17.80%	31.20%

INCOME TAXES - Deferred Taxes (

INCOME TAXES - Deferred Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 799	$ 1,217
Capital loss carryforward	0	8
Pension, postretirement and other benefits	1,205	1,488
Investments	936	806
Deferred revenue	2,158	2,110
Lease liabilities	2,816	2,193
Other	608	709
Valuation allowance	(951)	(877)	$ (1,176)
Total deferred tax assets	7,571	7,654
Deferred tax liabilities:
Depreciation	7,040	5,570
Operating lease assets	1,369	1,533
Intangible assets	1,165	1,143
Other	78	73
Total deferred tax liabilities	9,652	8,319
Other noncurrent assets	95	243
Deferred income taxes, net	2,176	908
Net deferred tax liabilities	$ 2,081	$ 665

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
Deferred tax liabilities	$ 2,081	$ 665
Valuation allowance	951	$ 877	$ 1,176
U.S. federal
Income Taxes
Operating loss carryforwards	$ 2,700

INCOME TAXES - Valuation Allowa

INCOME TAXES - Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Valuation allowance activity
Valuation allowance, beginning	$ 877	$ 1,176
Tax provision	74	(299)
Valuation allowance, ending	$ 951	$ 877

EQUITY AND EQUITY COMPENSATIO_2

EQUITY AND EQUITY COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Capital stock, shares authorized (shares)	2,000,000,000
Common stock, authorized (shares)	1,500,000,000	1,500,000,000
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (shares)	500,000,000
Treasury stock weighted average cost per share (USD per share)	$ 31.06	$ 30.37
Number of shares authorized for issuance under the Plan (shares)	163,000,000
Shares available for future grant (shares)	9,000,000
Equity compensation expense	$ 236	$ 180	$ 150
Compensation cost not yet recognized	$ 117
Outstanding stock option awards (shares)	4,800,000	6,200,000	6,200,000	6,200,000
Weighted average exercise price of options outstanding (USD per share)	$ 50.41	$ 50.42	$ 50.40	$ 50.41
Restricted stock awards
Class of Stock [Line Items]
Unvested restricted stock awards (shares)	4,300,000	4,200,000	3,100,000	2,900,000
Stock options
Class of Stock [Line Items]
Term of award (in years)	10 years
Performance awards
Class of Stock [Line Items]
Performance period (in years)	3 years
Performance awards | Minimum
Class of Stock [Line Items]
Potential performance award payments as percentage of target level	0%
Performance awards | Maximum
Class of Stock [Line Items]
Potential performance award payments as percentage of target level	200%
Performance-Based Restricted Stock Units
Class of Stock [Line Items]
Shares available for future grant (shares)	6,000,000	3,300,000	1,300,000
Performance period (in years)	3 years
Performance-Based Restricted Stock Units | Minimum
Class of Stock [Line Items]
Potential performance award payments as percentage of target level	0%	0%	0%
Performance-Based Restricted Stock Units | Maximum
Class of Stock [Line Items]
Potential performance award payments as percentage of target level	200%	300%	300%
PSP Warrants | Payroll Support Program
Class of Stock [Line Items]
Number shares called by warrants (shares)				11,100,000	11,100,000

EQUITY AND EQUITY COMPENSATIO_3

EQUITY AND EQUITY COMPENSATION - Warrants (Details) shares in Millions	Dec. 31, 2024 $ / shares shares
Class of Warrant or Right [Line Items]
Number of Warrants (shares)	11.2
Payroll Support Program (PSP1)
Class of Warrant or Right [Line Items]
Number of Warrants (shares)	6.9
Exercise Price (USD per share) | $ / shares	$ 23.99
Payroll Support Program Extension (PSP2)
Class of Warrant or Right [Line Items]
Number of Warrants (shares)	2.4
Exercise Price (USD per share) | $ / shares	$ 39.11
Payroll Support Program 3 (PSP3)
Class of Warrant or Right [Line Items]
Number of Warrants (shares)	1.9
Exercise Price (USD per share) | $ / shares	$ 47.05

EQUITY AND EQUITY COMPENSATIO_4

EQUITY AND EQUITY COMPENSATION - Restricted Stock Award Activity (Details) - Restricted Stock - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock
Outstanding, beginning (shares)	4.2	3.1	2.9
Granted (shares)	2.6	2.7	1.9
Vested (shares)	(2.3)	(1.5)	(1.6)
Forfeited (shares)	(0.2)	(0.1)	(0.1)
Outstanding, ending (shares)	4.3	4.2	3.1
Restricted Stock, Weighted-Average Grant Price
Outstanding, beginning (USD per share)	$ 40.51	$ 43.43	$ 45.66
Granted (USD per share)	40.75	39.63	42.45
Vested (USD per share)	40.60	44.79	46.31
Forfeited (USD per share)	40.49	40.94	45.51
Outstanding, ending (USD per share)	$ 40.60	$ 40.51	$ 43.43

EQUITY AND EQUITY COMPENSATIO_5

EQUITY AND EQUITY COMPENSATION - Stock Option Activity (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock Options
Outstanding, beginning (shares)	6.2	6.2	6.2
Granted (shares)	0	0	0
Exercised (shares)	(1.4)	0	0
Forfeited (shares)	0	0	0
Outstanding, ending (shares)	4.8	6.2	6.2
Stock Options, Weighted-Average Grant Price
Outstanding, beginning (USD per share)	$ 50.42	$ 50.40	$ 50.41
Granted (USD per share)	0	0	0
Exercised (USD per share)	50.35	39.78	0
Forfeited (USD per share)	52.89	51.91	52.87
Outstanding, ending (USD per share)	$ 50.41	$ 50.42	$ 50.40

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax
Beginning balance, tax effect	$ 796	$ 782	$ 1,184
Beginning balance	11,105	6,582	3,887
Changes in value, tax effect	(199)	71	(330)
Changes in value (net of tax effect)	662	(233)	1,089
Reclassifications into earnings, tax effect	(61)	(57)	(72)
Reclassification into earnings (net of tax effect)	204	189	240
Ending balance, tax effect	536	796	782
Ending balance	15,293	11,105	6,582
Deferred income tax expense in AOCI that will not be recognized until obligation is fully extinguished	750	750	750
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax
Beginning balance	(5,845)	(5,801)	(7,130)
Ending balance	(4,979)	(5,845)	(5,801)
Pension and Other Benefits Liabilities
AOCI Attributable to Parent, Net of Tax
Beginning balance, AOCI before tax	(6,681)	(6,624)	(8,355)
Changes in value	859	(303)	1,419
Reclassifications into earnings	265	246	312
Ending balance, AOCI before tax	(5,557)	(6,681)	(6,624)
Other
AOCI Attributable to Parent, Net of Tax
Beginning balance, AOCI before tax	40	41	41
Changes in value	2	(1)	0
Reclassifications into earnings	0	0	0
Ending balance, AOCI before tax	$ 42	$ 40	$ 41

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment fleet	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Number of operating segments | segment	2
Number of fleets | fleet	1
Operating revenue	$ 61,643	$ 58,048	$ 50,582
Intersegment Sales/Other
Business Acquisition [Line Items]
Operating revenue	(3,125)	(4,193)	(5,729)
Intersegment Sales/Other | Exchanged products
Business Acquisition [Line Items]
Operating revenue	$ (1,473)	$ (2,354)	$ (3,475)

SEGMENTS - Segment Reporting (D

SEGMENTS - Segment Reporting (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information, Profit (Loss)
Operating revenue	$ 61,643	$ 58,048	$ 50,582
Airline salaries and related costs	16,161	14,607	11,902
Aircraft fuel and related costs	10,566	11,069	11,482
Depreciation and amortization	2,513	2,341	2,107
Operating income	5,995	5,521	3,661
Interest expense, net	747	834	1,029
Income before income taxes	4,658	5,608	1,914
Total assets, end of period	75,372	73,644	72,288
Capital expenditures	5,140	5,323	6,366
Operating Segments | Airline
Segment Reporting Information, Profit (Loss)
Operating revenue	57,001	54,669	45,605
Airline salaries and related costs	16,161	14,607	11,902
Aircraft fuel and related costs	10,566	11,069	11,482
Depreciation and amortization	2,513	2,341	2,107
Other segment items	21,804	21,516	17,230
Operating income	5,957	5,136	2,884
Interest expense, net	747	834	1,029
Other non-operating expense	590	921	718
Income before income taxes	4,620	5,223	1,137
Total assets, end of period	72,979	71,529	69,355
Capital expenditures	5,075	5,088	6,217
Operating Segments | Refinery
Segment Reporting Information, Profit (Loss)
Operating revenue	7,767	7,572	10,706
Refinery cost of goods sold	7,234	6,665	9,442
Depreciation and amortization	113	94	93
Other segment items	382	428	394
Operating income	38	385	777
Interest expense, net	3	17	12
Income before income taxes	35	368	765
Total assets, end of period	2,418	2,174	3,039
Capital expenditures	65	235	149
Intersegment Sales/Other
Segment Reporting Information, Profit (Loss)
Operating revenue	(3,125)	(4,193)	(5,729)
Interest expense, net	(3)	(17)	(12)
Income before income taxes	3	17	12
Total assets, end of period	(25)	(59)	(106)
Intersegment Sales/Other | Sales to airline segment
Segment Reporting Information, Profit (Loss)
Operating revenue	(1,421)	(1,535)	(1,976)
Intersegment Sales/Other | Exchanged products
Segment Reporting Information, Profit (Loss)
Operating revenue	(1,473)	(2,354)	(3,475)
Intersegment Sales/Other | Sales of refined products
Segment Reporting Information, Profit (Loss)
Operating revenue	$ (231)	$ (304)	$ (278)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 3,457	$ 4,609	$ 1,318
Basic weighted average shares outstanding (shares)	641	639	638
Dilutive effect of share-based instruments (shares)	7	4	3
Diluted weighted average shares outstanding (shares)	648	643	641
Basic earnings per share (USD per share)	$ 5.39	$ 7.21	$ 2.07
Diluted earnings per share (USD per share)	$ 5.33	$ 7.17	$ 2.06