Delta Air Lines, Inc. has recently released its 10-K report, providing an insight into the company's financial performance for the year ended December 31, 2025. The report reveals that Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally, operating through two segments, Airline and Refinery. The company's domestic network is centered on core hubs in Atlanta, Detroit, Minneapolis-St. Paul, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle, with an international network centered on hubs and market presence in various global locations.
In the "Management's Discussion and Analysis" section of the 10-K report, Delta Air Lines, Inc. reported an operating income of $5.8 billion for 2025, representing a decrease of $173 million compared to 2024. Operating income, adjusted, was also reported at $5.8 billion, reflecting a decrease of $212 million compared to the previous year. The company attributed these decreases to nearly offsetting increases in both revenue and operating expenses.
The report further delves into the financial overview, revealing that the company paid profit sharing of $1.4 billion in February 2025 to its employees, as a result of its strong performance in 2024 and 2025. Additionally, the report details the revenue and operating expenses for 2025, highlighting a 3% increase in operating revenue compared to 2024, primarily driven by continued strength in demand for premium products, growth in loyalty travel awards, increased refinery sales to third parties, and growth of the Delta TechOps third-party maintenance, repair, and overhaul ("MRO") business.
Moreover, the report discloses that total operating expense increased by $1.9 billion, or 3%, compared to 2024, primarily due to higher employee costs from increased wages, costs associated with a 3% increase in capacity, and higher expenses related to refinery sales to third parties. The report also details the company's non-operating results, cash flow, and income taxes for the year 2025.
The report provides a comprehensive breakdown of the operating revenue, passenger revenue by geographic region, and other revenue, shedding light on the company's performance in various segments. It also discusses the operating expenses, including salaries and related costs, aircraft fuel and related taxes, ancillary businesses and refinery, contracted services, and other expenses.
Today the company's shares have moved -1.28% to a price of $70.43. Check out the company's full 10-K submission here.
