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Exhibit 99.1
DELTA AIR LINES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; In Millions, Except Share Data)
Three Months Six Months
Ended Ended
December 31, December 31,
-------------------------- --------------------------
1999 1998 1999 1998
Operating Revenues:
Passenger 3,362 3,135 6,884 6,622
Cargo 153 150 293 290
Other, net 198 163 413 338
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Total operating revenues 3,713 3,448 7,590 7,250
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Operating Expenses:
Salaries and related costs 1,348 1,217 2,654 2,454
Aircraft fuel 384 351 750 689
Depreciation and amortization 285 233 548 451
Passenger commissions 174 208 377 459
Contracted services 216 193 428 376
Other selling expenses 181 179 376 375
Landing fees and other rent 179 164 359 344
Aircraft rent 169 146 323 291
Aircraft maintenance materials and
outside repairs 149 138 315 281
Passenger service 122 124 255 257
Asset writedowns and other special charges 320 -- 469 --
Other 178 175 379 401
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Total operating expenses 3,705 3,128 7,233 6,378
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Operating Income 8 320 357 872
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Other Income (Expense):
Interest expense (77) (43) (143) (92)
Interest capitalized 11 12 24 22
Interest income 37 12 58 33
Misc. income (expense), net (48) 19 (35) 23
Gains from sales of investments 649 -- 901 --
--------- --------- --------- ---------
572 -- 805 (14)
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Income Before Income Taxes 580 320 1,162 858
Income Taxes Provided, Net (228) (126) (458) (338)
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Net Income 352 194 704 520
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Preferred Stock Dividends (3) (3) (6) (5)
--------- --------- --------- ---------
Net Income Available
To Common Shareowners $ 349 $ 191 $ 698 $ 515
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Basic Earnings Per Share $ 2.62 $ 1.34 $ 5.15 $ 3.54
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Diluted Earnings Per Share $ 2.50 $ 1.29 $ 4.88 $ 3.38
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Weighted Average Shares Used
In Per Share Computation:
Basic (000) 132,871 142,656 135,586 145,293
Diluted (000) 140,023 149,432 143,688 153,406
THE CONSOLIDATED STATEMENTS OF OPERATIONS INCLUDE THE RESULTS OF OPERATIONS FOR
ASA HOLDINGS, INC. AND COMAIR HOLDINGS, INC. SINCE APRIL 1, 1999 AND NOVEMBER
22, 1999, RESPECTIVELY.
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CONSOLIDATED STATISTICAL SUMMARY (UNAUDITED), EXCLUDING ASA HOLDINGS, INC.,
COMAIR HOLDINGS, INC. AND ASSET WRITEDOWNS AND OTHER SPECIAL CHARGES:
Revenue Passenger Miles (millions) 25,168 24,823 53,465 52,935
Available Seat Miles (millions) 36,212 35,923 73,944 72,596
Passenger Mile Yield (cents) 12.55 12.63 12.26 12.51
Operating Revenue Per
Available Seat Mile (cents) 9.68 9.60 9.81 9.99
Operating Cost Per Available
Seat Mile (cents) 8.88 8.71 8.79 8.79
Passenger Load Factor (percent) 69.50 69.10 72.30 72.92
Breakeven Passenger Load
Factor (percent) 63.12 62.06 63.96 63.32
Passengers Enplaned (thousands) 25,739 25,547 52,922 53,149
Revenue Ton Miles (millions) 2,993 2,920 6,262 6,149
Cargo Ton Miles (millions) 475 438 912 856
Cargo Ton Mile Yield (cents) 31.77 34.38 31.85 33.84
Fuel Gallons Consumed (millions) 675 680 1,388 1,382
Average Price Per Fuel gallon (cents) 53.61 51.61 51.88 49.88
Number of Aircraft in Fleet at
End of Period 584 581 584 581
Average Full-Time Equivalent
Employees 72,000 71,300 72,100 71,100