UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 15, 1998
DELTA AIR LINES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-5424 58-0218548
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
Hartsfield Atlanta International Airport, Atlanta, Georgia 30320
(Address of principal executive offices)
Registrant's telephone number, including area code: (404) 715-2600
Item 5. OTHER EVENTS
Financial Results
On October 15, 1998, Delta Air Lines, Inc. (the "Company")
announced its unaudited financial results for the quarter ended September 30,
1998 and related financial and statistical information which is attached hereto
as Exhibit 99.1. Exhibit 99.1 is hereby incorporated by reference herein.
Common Stock Repurchase Authorizations
The Company has two common stock repurchase programs. As
discussed in Note 14 of the Notes to Consolidated Financial Statements on page
51 of the Company's 1998 Annual Report to Shareowners, (1) in July 1998, the
Company's Board of Directors ("Board") authorized the Company to repurchase its
common stock and common stock equivalents for an aggregate purchase price of up
to $750 million from time to time through December 31, 1999 ("July 1998
Authorization"); and (2) in April 1996, the Board authorized a common stock
repurchase program relating to the Company's broad-based employee stock option
plans.
During the quarter ended September 30, 1998, the Company
repurchased (1) $401 million of common stock under the July 1998 Authorization;
and (2) a total of 3.9 million shares of common stock under both repurchase
authorizations.
Pilot Agreement
On October 16, 1998, the Air Line Pilots Association,
International ("ALPA") announced that the Company's pilots had approved an
agreement reached on June 23, 1998 between the Company and ALPA regarding pilot
rates of pay, rules and working conditions applicable to the Company's
B-737-600/700/800 aircraft and certain B-737-300 aircraft. For additional
information regarding this subject, see "Personnel Matters" on pages 31-32 of
the Company's 1998 Annual Report to Shareowners.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
The Exhibit Index on page 4 is hereby incorporated herein by
reference.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
DELTA AIR LINES, INC.
BY: /s/ Warren C. Jenson
---------------------
Warren C. Jenson
Executive Vice President
and Chief Financial Officer
DATE: October 19, 1998
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EXHIBIT INDEX
Exhibit Description
99.1 Unaudited Consolidated Statements of Operations of Delta
Air Lines, Inc. for the three month periods ended September
30, 1998 and 1997 and the related financial and statistical
information.
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