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Delta Reports Financial and Operating Performance for December 2013

ATLANTA, Jan. 3, 2014 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) today reported financial and operating performance for December 2013.

(Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO )

Consolidated passenger unit revenue (PRASM) for the month of December increased 10.0 percent year over year driven by continuing strong demand and benefits from the timing of the Thanksgiving holiday.    

Delta completed 99.6 percent of its flights in December and ran an on-time arrival rate of 79.5 percent.

The company's financial and operating performance is detailed below.   

Preliminary Financial and Operating Results


December consolidated PRASM change year over year



10.0%

Projected December quarter fuel price per gallon, adjusted



$3.00 - $3.05

December mainline completion factor



99.6%

December on-time performance (preliminary DOT A14)



79.5%

Note: Fuel price includes taxes, transportation, settled hedges, hedge premiums and refinery impact, but excludes mark to market adjustments on open hedges.

Delta Air Lines serves nearly 165 million customers each year. Delta was named by Fortune magazine as the most admired airline worldwide in its 2013 World's Most Admired Companies airline industry list, topping the list for the second time in three years. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 322 destinations in 59 countries on six continents. Headquartered in Atlanta, Delta employs nearly 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. The airline is a founding member of the SkyTeam global alliance and participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia as well as a newly formed joint venture with Virgin Atlantic. Including its worldwide alliance partners, Delta offers customers more than 15,000 daily flights, with hubs in Amsterdam, Atlanta, Cincinnati, Detroit, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita. Delta is investing more than $3 billion in airport facilities and global products, services and technology to enhance the customer experience in the air and on the ground. Additional information is available on delta.com, Twitter @Delta, Google.com/+Delta, Facebook.com/delta and Delta's blog takingoff.delta.com.

Forward Looking Statements

Statements in this press release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements.  These risks and uncertainties include, but are not limited to, the cost of aircraft fuel; the availability of aircraft fuel; the impact of posting collateral in connection with our fuel hedge contracts; the impact of significant funding obligations with respect to defined benefit pension plans; the impact that our indebtedness may have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our dependence on technology in our operations; disruptions or security breaches of our information technology infrastructure; the ability of our credit card processors to take significant holdbacks in certain circumstances; the possible effects of accidents involving our aircraft; the effects of weather, natural disasters and seasonality on our business; the effects of an extended disruption in services provided by third party regional carriers; failure or inability of insurance to cover a significant liability at the Trainer refinery; the impact of environmental regulation on the Trainer refinery, including costs related to renewable fuel standard regulations; our ability to retain management and key employees; our ability to use net operating losses to offset future taxable income; competitive conditions in the airline industry; the effects of extensive government regulation on our business; the effects of terrorist attacks; the effects of the rapid spread of contagious illnesses; and the costs associated with insurance.  

Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2012 and our quarterly report on Form 10-Q for the quarterly period ended September 30, 2013.  Caution should be taken not to place undue reliance on our forward-looking statements, which represent our views only as of January 3, 2014, and which we have no current intention to update.

 




Monthly Traffic Results (a)


Year to Date Traffic Results (a)




































Dec 2013


Dec 2012


Change



Dec 2013


Dec 2012


Change


















RPMs (000):
















Domestic

9,434,131


8,745,715


7.9%



114,652,740


114,692,138


(0.0%)




Delta Mainline

7,673,560


7,043,866


8.9%



92,789,089


91,468,660


1.4%




Regional

1,760,571


1,701,849


3.5%



21,863,651


23,223,478


(5.9%)



International

6,353,075


6,016,864


5.6%



80,317,771


78,281,985


2.6%




Latin America

1,483,980


1,276,849


16.2%



15,351,889


13,778,843


11.4%




     Delta Mainline

1,458,639


1,260,747


15.7%



15,148,208


13,611,910


11.3%




       Regional

25,341


16,102


57.4%



203,681


166,933


22.0%




Atlantic

2,840,965


2,750,470


3.3%



40,233,076


39,920,372


0.8%




Pacific

2,028,130


1,989,545


1.9%



24,732,806


24,582,770


0.6%



Total System

15,787,206


14,762,579


6.9%



194,970,511


192,974,123


1.0%


















ASMs (000):
















Domestic

11,113,796


10,733,406


3.5%



137,989,838


136,485,550


1.1%




Delta Mainline

8,912,988


8,544,611


4.3%



109,718,045


107,184,875


2.4%




Regional

2,200,808


2,188,795


0.5%



28,271,793


29,300,675


(3.5%)



International

7,406,168


7,107,183


4.2%



94,745,955


93,929,889


0.9%




Latin America

1,740,271


1,537,193


13.2%



18,279,674


16,883,549


8.3%




     Delta Mainline

1,709,566


1,516,779


12.7%



18,019,064


16,641,107


8.3%




       Regional

30,705


20,414


50.4%



260,610


242,442


7.5%




Atlantic

3,314,170


3,240,902


2.3%



47,167,218


47,485,424


(0.7%)




Pacific

2,351,727


2,329,088


1.0%



29,299,063


29,560,916


(0.9%)



Total System

18,519,964


17,840,589


3.8%



232,735,793


230,415,439


1.0%


















Load Factor:
















Domestic

84.9%


81.5%


3.4

pts


83.1%


84.0%


(0.9)

pts



Delta Mainline

86.1%


82.4%


3.7

pts


84.6%


85.3%


(0.7)

pts



Regional

80.0%


77.8%


2.2

pts


77.3%


79.3%


(2.0)

pts


International

85.8%


84.7%


1.1

pts


84.8%


83.3%


1.5

pts



Latin America

85.3%


83.1%


2.2

pts


84.0%


81.6%


2.4

pts



     Delta Mainline

85.3%


83.1%


2.2

pts


84.1%


81.8%


2.3

pts



       Regional

82.5%


78.9%


3.6

pts


78.2%


68.9%


9.3

pts



Atlantic

85.7%


84.9%


0.8

pts


85.3%


84.1%


1.2

pts



Pacific

86.2%


85.4%


0.8

pts


84.4%


83.2%


1.2

pts


Total System

85.2%


82.7%


2.5

pts


83.8%


83.8%


0.0

pts

















Mainline Completion Factor

99.6%


99.7%


(0.1)

pts
























Passengers Boarded

13,360,396


12,469,381


7.1%



164,656,327


164,591,330


0.0%


















Cargo Ton Miles (000):

189,230


192,697


(1.8%)



2,350,971


2,385,084


(1.4%)


















Results include flights operated under contract carrier arrangements








 Non-GAAP Reconciliation

Delta sometimes uses information ("non-GAAP financial measures") that is derived from our Consolidated Financial Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Under the U.S. 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 excludes mark-to-market adjustments for fuel hedges recorded in periods other than the settlement period ("MTM adjustments") from average price per fuel gallon because excluding these adjustments allows investors to better understand and analyze Delta's costs for the periods reported. MTM adjustments are based on market prices as of the end of the reporting period for contracts settling in future periods. Such market prices are not necessarily indicative of the actual future value of the underlying hedge in the contract settlement period.

Average Fuel Price Per Gallon









(Projected)





Three Months Ended,



Consolidated


December 31, 2013



Average price per fuel gallon



$2.89 to $2.94



MTM adjustments



0.11



Average price per fuel gallon, adjusted



$3.00 to $3.05

















 

SOURCE Delta Air Lines

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