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, 1999 1998 ------------- ------------- Earnings (loss): Earnings (loss) before income taxes $ 583 $ 538 Add (deduct): Fixed charges from below 204 211 Interest capitalized (13) (10) --------- --------- Earnings (loss) as adjusted $ 774 $ 739 Fixed charges: Interest expense $ 66 $ 49 Portion of rental expense representative of the interest factor 138 162 --------- --------- Total fixed charges $ 204 $ 211 Ratio of earnings to fixed charges 3.79 3.50