These reconciliations include certain adjustments to GAAP measures, that are directly related to the impact of COVID-19 and our response.

"Amid the continuing challenges, including one of the most difficult holiday environments we've ever encountered, you continue to rise above and provide unmatched service to our customers," he said. As leaders fanned out across the airlines hubs to celebrate Delta people, a key highlight for the day was the special profit-sharing payment announced as part of its 2021 financial results in January. ", June Quarter Balance Sheet, Cash and Liquidity, "In the June quarter, we repaid $1 billion of gross debt after delivering strong profitability and generating free cash flow ahead of our expectations," Janki said.

As the leading global airline, Delta's mission is to create opportunities, foster understanding and expand horizons by connecting people and communities to each other and their potential.

"You never falter in taking care of one another, our customers, and the communities we serve.

Read about how Delta stacked up against its competitors in the graphic below: The airline industry's 2015 earnings are in.

In an internal memo sent to employees and viewed by Insider, Delta CEO Ed Bastian told workers about the special payout and praised them for their hard work throughout the COVID-19 pandemic. Two years ago, the airline divvied a record $1.6 billion between its employees, equating to about two months' salary.

Delta plans to divvy out $108 million to employees in profit-sharing, or about $1,250 per person. The adjustment is based on their original contractual purchase price or an estimate of the aircraft's fair value and provides a more meaningful view of our investing activities.

These adjustments are made for the following reasons: Net redemptions of short-term investments. Adjustments.

Delta Air Lines managed to post a profit in 2021, and it plans to share some of it with employees.

The bonus is expected to be paid out on February 14.

Profit sharing.

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MTM adjustments on investments. The bonus is well below the record $1.6 billion the airline shared with staff after 2019's year-end earnings.

Overnight on Wall Street is daytime in Asia.

Track your investments 24 hours a day, around the clock from around the world. This adjustment reflects aircraft deliveries that are leased as capital expenditures.

Forward Looking Projections.

We also delivered another record quarter of American Express co-brand remuneration, up 35 percent from the June quarter 2019, reflecting growing brand preference and further diversification of our revenue base," said Glen Hauenstein, Delta's president. We present free cash flow because management believes this metric is helpful to investors to evaluate the company's ability to generate cash that is available for use for debt service or general corporate initiatives. Delta revealed its fourth-quarter earnings on Thursday, reporting a loss of $408 million.

Free cash flow is defined as net cash from operating activities and net cash from investing activities, adjusted for (i) net redemptions of short-term investments, (ii) strategic investments and related, (iii) net cash flows related to certain airport construction projects and other, (iv) financed aircraft acquisitions and (v) other items that are not representative of our core operations, such as our pension funding. Strategic investments and related.

Settlements represent cash received or paid on hedge contracts settled during the applicable period.

ATLANTA, July 13, 2022 /PRNewswire/ -- Delta Air Lines (NYSE:DAL) today reported financial results for the June quarter 2022 and provided its outlook for the September quarter 2022.

Our people lead the way in delivering a world-class customer experience, and we're continuing to ensure the future of travel is personalized, enjoyable and stress-free.

By reducing the isolation period, Bastian said the airline had managed to quickly recover from a Christmas holiday meltdown and was now cancelling only a tiny number of flights due to staff shortages.

Delta sometimes uses information ("non-GAAP financial measures") that is derived from the Consolidated Financial Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP").

Under the Securities and Exchange Commission rules, non-GAAP financial measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. Delta's more than 80,000 employees believe our customers should not have to choose between seeing the world and saving the planet. The latest news impacting markets, business and finance around the world.

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Equity investment MTM adjustments. Cash flows related to our investments in and related transactions with other airlines are included in our GAAP investing activities.

In the June quarter 2022 and six months ended June 2022, we recognized $1million and $7 million, respectively, of net adjustments to certain of those restructuring charges, representing changes in our estimates.

", *Corporate sales include tickets sold to corporate contracted customers, including tickets for travel during and beyond the referenced time period, June Quarter Cost Performance and Outlook, "Our June quarter non-fuel unit cost performance of up 22 percent compared to 2019 was impacted by lower capacity, higher selling-related expenses and investments in operational reliability," said Dan Janki, Delta's chief financial officer.

These adjustments are made to provide comparability between the reported periods, if applicable, as indicated below: Restructuring charges. Excluding these sales therefore provides a more meaningful comparison of our airline operations to the rest of the airline industry. Please check your user ID.

Pension funding. Refinery sales to third parties, and related expenses, are not related to our airline segment.

Operating Revenue, adjusted and Total Revenue Per Available Seat Mile ("TRASM"), adjusted, MTM adjustments and settlements on hedges, Pre-Tax Income, Net Income, and Diluted Earnings per Share, adjusted. Carrier projects January, February losses, March profit, About 8,000 employees have had coronavirus infection, These Are the Worlds Most (and Least) Powerful Passports in 2022, ECB Rushes to Tighten as Half-Point Hike Matched by Crisis Tool, Musk Lieutenant Scrutinized inInternal Tesla Purchasing Probe, Ford Plans Up to 8,000 Job Cuts to Help Fund EV Investment, Russia Resumes Nord Stream Gas Flow, Bringing Europe Respite. 1 corporate blood drive sponsor with the American Red Cross for the fifth consecutive year, Resumed The Delta Air Lines Foundation Matching Gifts to Education program, matching Delta employee and retiree donations to accredited, eligible educational institutions, Welcomed record number of new SkyMiles and American Express co-brand cardholders to our programs, Celebrated the openings of Delta's Terminal 3 at LAX in April followed by Terminal C at LGA in June, featuring the company's two largest, In partnership with American Express, launched a first-of-its-kind, limited-edition Reserve credit card made with airplane metal of a retired Boeing 747, Welcomed the first A321neo into service while taking delivery of two additional A321neos, one A220-300, one A330-900 and five gently used 737-900ERs, Enhanced premium offering with new domestic First Class seat on the A321neo, with larger, improved privacy space, more stowage for personal items and enhanced memory-foam seat cushions in all cabins, In partnership with Misapplied Sciences, launched PARALLEL REALITY beta experience at DTW, a groundbreaking technology allowing customers to simultaneously see personalized content tailored to their unique journey on a single digital screen, As part of Delta's commitment to create a values-led experience, added onboard snack and beverage options from small businesses, global suppliers, and woman- and LGBTQ+-led brands, Introduced new in-flight entertainment from MasterClass, a streaming platform offering exclusive access to select classes, alongside hit movies, bingeable TV shows and curated audio playlists, Published our 2021 Environmental, Social and Governance (ESG) Report, sharing the latest data and insight into the company's efforts to advance its purpose of connecting people with opportunity while expanding the understanding of the planet and the people within it, Leveraged existing infrastructure to accept a batch of sustainable aviation fuel for a Delta flight from, Participated in the SkyTeam Alliance's Sustainable Flight Challenge, an initiative where partner airlines share learnings and innovations with the common goal of reducing the industry's carbon footprint, Launched new skills-first career development program establishing a long-term goal of filling 25 percent of corporate management roles with talent in frontline roles and removing career barriers of four-year degrees, supporting economic equity through access to higher-earning jobs across the company, Joined forces with the Responsible Business Initiative for Justice (RBIJ) to launch Unlock Potential, a program that helps drive economic and social mobility for young people disconnected from education or employment, to create meaningful career opportunities for at-risk young adults.

Delta is not able to reconcile forward looking non-GAAP financial measures without unreasonable effort because the adjusting items such as those used in the reconciliations below will not be known until the end of the period and could be significant.

Joe Biden Has Covid. So Delta have already fully repaid the several billions in taxpayer funded aid then. Aircraft fuel and related taxes. Data not found. Delta reduces adjusted total debt by cash, cash equivalents and short-term investments, and LGA restricted cash, resulting in adjusted net debt, to present the amount of assets needed to satisfy the debt. Loss on extinguishment of debt.

The volatility in fuel prices impacts the comparability of year-over-year financial performance.

Highlights of the June quarter 2022 results, including both GAAP and adjusted metrics, are on page five and are incorporated here.

According to the carrier, it had revenue of $9.47 billion in Q4, beating analysts' $9.21 billion expectation and marking its highest revenue since late 2019, reported CNBC.

Delta revealed its fourth-quarter earnings on Thursday, the airline divvied a record $1.6 billion between its employees.

The highly transmissible variant could also hit Deltas bottom line by as much as $70 million, although that figure is subject to change as Omicron sweeps through the United States. Free cash flow is also used internally as a component of our 2022 incentive compensation program.

We also regularly adjust certain GAAP measures for the following items, if applicable, for the reasons indicated below: Third-party refinery sales. Major European Airline Bans Passengers From Checking-In Luggage After Baggage System Collapse, You Can Now Spend Over 14 Bum Numbing Hours Flying On Wizz Air Planes From Iceland to the Maldives, Heathrow Blames Penny Pinching Airlines Who Refuse to Increase Employee Wages for Recent Airport Chaos, An Airline Was Forced to Delay Hundreds of Flights After Cabin Crew Pulled Sickies to Attend a Recruitment Event For a Rival Airline, Emirates Brings Back Face-to-Face Cabin Crew Interviews With a Whirlwind 30-City World Tour, British Airways Confirms it Will Open Cabin Crew Base in Madrid to Ease Summer Staffing Crisis, David and Goliath Legal Battle Erupts Between American Airlines and Flight Attendant Who Became a Pandemic Whistleblower, American Airlines Bans Staff From Using Non-Rev Benefits On Heathrow Flights Due to New Capacity Caps, American Airlines is Being Sued For Losing $65,000 Worth of French Cognac, British Airways is Sending Out Flights Without Food Because of Security Staff Shortages at its Heathrow Hub, British Airways Averts Crippling Strike Threat With Vastly Improved Pay Offer for Check-in Workers, British Airways Will Slash a Further 10,300 Flights Through End of October as it Faces its Most Difficult Period. Get the latest tech news & scoops delivered daily to your inbox.

"For the September quarter, we expect an adjusted operating margin of 11 to 13 percent, supporting our outlook for meaningful full year profitability.

"With sustained strength in bookings, we expect September quarter revenue to be up 1 to 5 percent compared to 2019 with total unit revenue growth improving sequentially.

Marking the first time Delta has paid out an employee sharing scheme since February 2020, chief executive Ed Bastian said the bonus was a sign of the airlines appreciation of its workers.

Cash flows related to certain airport construction projects are included in capital expenditures. We have adjusted for these items, which were primarily funded by cash restricted for airport construction, to provide investors a better understanding of the company's free cash flow and capital expenditures that are core to our operations in the periods shown.

A Chef Tackles Inequality by Opening Farms in Black Communities, The US Has Lost Its Way on Computer Chips, Macau Casino Crash Shifts Worlds Gambling Crown to Las Vegas, Planned Parenthood Workers at 28 Clinics Vote to Unionize, Trucker Protest Keeps Dockworkers From Work at Key California Hub, Jean Paul Gaultier Says Straight Actors Should Be Eligible for Gay Roles, Drought Drives Las Vegas to Cap Size of Home Swimming Pools, Utilities From New York to Tokyo Offer Prizes to Cut Power Use, Why Neighborhoods and Small Businesses Thrive in Tokyo, Pennsylvania County Could Become First to Divest From Wells Fargo Over Abortion, Boston Train Fire Adds to Troubled Safety Record atTransit Agency, Crypto Crash Be Damned, Some Workers Still Choose Digital Pay, Indonesia Plans Wholesale Digital Currency to Improve Transfers. The loss was partially due to a combination of rising fuel costs and the spread of the Omicron variant, which led 8,000 employees to test positive for COVID in the past four weeks, according to the carrier. Delta Air Lines Inc. says the rapidly spreading omicron coronavirus variant will delay a recovery in travel by at least 60 days and contribute to a first-quarter loss but wont derail the carriers expectation to remain profitable for the rest of the year.

The $1.5 billion payout - the largest in the history of corporate profit sharing programs also attracted attention outside Delta, as media outlets across the U.S Two records: largest payout, largest greeting card, Across the globe, Delta celebrates Employee Appreciation Day and profit sharing, Its a dream come true: Delta people come together for airlines No.

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