1 EXHIBIT 12 DELTA AIR LINES, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In Millions, except ratios) - -------------------------------------------------------------------------------- Three Months Three Months Ended Ended September 30, September 30, 1997 1996 ------------- ------------- Earnings : Earnings before income taxes $ 418 $ 398 Add (deduct): Fixed charges 170 133 Interest capitalized (9) (8) ----- ----- Earnings as adjusted $ 579 $ 523 ===== ===== Fixed charges: Interest expense $ 50 $ 54 Portion of rental expense representative of the interest factor 120 79 ----- ----- Total fixed charges $ 170 $ 133 ===== ===== Ratio of earnings to fixed charges 3.41 3.93