1
Exhibit 99.1
DELTA AIR LINES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(IN MILLIONS, EXCEPT SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30 JUNE 30
-------------------------------- --------------------------------
2001 2000 2001 2000
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OPERATING REVENUES:
Passenger $ 3,537 $ 4,190 $ 7,135 $ 7,856
Cargo 131 145 271 286
Other, net 108 134 212 238
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3,776 4,469 7,618 8,380
OPERATING EXPENSES:
Salaries and related costs 1,567 1,514 3,181 2,942
Aircraft fuel 463 461 977 895
Depreciation and amortization 331 302 655 599
Contracted services 254 236 512 464
Landing fees and other rents 196 195 398 383
Aircraft maintenance materials and
outside repairs 193 195 380 366
Aircraft rent 186 186 374 371
Other selling expenses 164 172 344 333
Passenger commissions 144 176 285 345
Passenger service 128 114 243 216
Other special charges 60 86 60 86
Other 204 226 438 431
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Total operating expenses 3,890 3,863 7,847 7,431
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OPERATING INCOME (LOSS) (114) 606 (229) 949
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OTHER INCOME (EXPENSE):
Interest expense, net (91) (67) (177) (136)
Gains from sales of investments 7 228 7 301
Fair value adjustments of SFAS 133
derivatives 112 -- 95 --
Miscellaneous income (expense),
net (13) 8 (17) 25
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15 169 (92) 190
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INCOME (LOSS) BEFORE INCOME TAXES (99) 775 (321) 1,139
INCOME TAXES PROVIDED, NET 9 (315) 98 (462)
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NET INCOME (LOSS) (90) 460 (223) 677
PREFERRED STOCK DIVIDENDS (4) (3) (7) (6)
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NET INCOME (LOSS) AVAILABLE TO
COMMON SHAREOWNERS $ (94) $ 457 $ (230) $ 671
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BASIC EARNINGS (LOSS) PER SHARE $ (0.76) $ 3.73 $ (1.87) $ 5.38
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DILUTED EARNINGS (LOSS) PER SHARE $ (0.76) $ 3.51 $ (1.87) $ 5.11
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WEIGHTED AVERAGE SHARES USED
IN PER SHARE COMPUTATION
Basic 123,052,899 122,558,486 123,041,961 124,720,905
Diluted 123,052,899 130,950,392 123,041,961 132,086,711
DIVIDENDS PER COMMON SHARE $ 0.025 $ 0.025 $ 0.050 $ 0.050
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