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):
November 4, 2014
DELTA AIR LINES, INC.
(Exact name
of registrant as specified in its charter)
Delaware |
001-05424 |
58-0218548 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
P.O. Box 20706, Atlanta, Georgia 30320-6001
(Address of principal executive offices)
Registrant’s telephone number, including
area code: (404) 715-2600
Registrant’s Web site address: www.delta.com
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
[_] Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation
FD Disclosure.
Delta Air Lines, Inc. (“Delta”)
issued today a press release reporting October 2014 financial and operating results. The press release is attached as Exhibit 99.1
to this Form 8-K.
In accordance with general instruction B.2
of Form 8−K, the information in this report (including the exhibit) that is being furnished pursuant to Item 7.01 of Form
8−K shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act, as amended,
or otherwise subject to liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, except as expressly set forth in such filing. This report will not be deemed an admission as
to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.
Statements
in this Form 8-K and the attached exhibit 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 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; 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 war risk insurance.
Additional information concerning risks
and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s
Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s
views only as of November 4, 2014, and which Delta has no current intention to update.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits.
|
Exhibit 99.1 |
Press Release dated November 4, 2014 titled “Delta Reports Financial and Operating Performance for October 2014” |
SIGNATURES
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 hereunto duly authorized.
|
DELTA AIR LINES, INC. |
|
|
|
By: /s/ Paul A. Jacobson |
Date: November 4, 2014 |
Paul
A. Jacobson
Executive Vice President and Chief Financial Officer |
EXHIBIT INDEX
Exhibit Number |
Description |
|
|
|
Exhibit 99.1 |
Press Release dated November 4, 2014 titled “Delta Reports Financial and Operating Performance for October 2014” |
|
|
|
Exhibit 99.1
![DELTA 2007 logo](image_001.jpg)
CONTACT: |
Corporate Communications |
|
404-715-2554 |
|
news archive at news.delta.com |
|
|
|
Investor Relations |
|
404-715-2170 |
Delta Reports Financial and Operating Performance
for October 2014
ATLANTA, Nov. 4, 2014
– Delta Air Lines (NYSE: DAL) today reported financial and operating performance for October 2014.
Consolidated passenger unit revenue (PRASM) for the month of October
increased 3.0 percent year over year driven by improvements in domestic and transatlantic unit revenues.
Delta’s solid operating performance continued through October,
with a monthly completion factor of 99.9 percent and an on-time arrival rate of 86.8 percent.
The company’s financial and operating performance is detailed
below.
Preliminary Financial and Operating Results
|
October consolidated PRASM change year over year |
3.0% |
October mainline completion factor |
99.9% |
October on-time performance (preliminary DOT A14) |
86.8% |
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.
This year, Delta was named the 2014 Airline of the Year by Air Transport World magazine
and was named to FORTUNE magazine’s 50 Most Admired Companies, in addition to being named the most admired airline
for the third time in four years. With an industry-leading global
network, Delta and the Delta Connection carriers offer service to 318 destinations in
58 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 key hubs
and markets including Amsterdam, Atlanta, Boston,
Detroit, Los Angeles, Minneapolis/St.
Paul, New York-JFK, New York-LaGuardia, Paris-Charles
de Gaulle, Salt Lake City, Seattle and Tokyo-Narita.
Delta has invested billions of dollars in airport facilities, 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 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; 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 war risk 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, 2013. Caution should
be taken not to place undue reliance on our forward-looking statements, which represent our views only as of Nov. 4, 2014,
and which we have no current intention to update.
|
|
|
Monthly Traffic Results (a) |
|
|
Year to Date Traffic Results (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oct 2014 |
|
Oct 2013 |
|
Change |
|
|
Oct 2014 |
|
Oct 2013 |
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RPMs (000): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic |
10,330,665 |
|
9,667,452 |
|
6.9% |
|
|
101,202,654 |
|
96,593,174 |
|
4.8% |
|
|
|
Delta Mainline |
8,481,007 |
|
7,753,318 |
|
9.4% |
|
|
83,204,131 |
|
78,146,878 |
|
6.5% |
|
|
|
Regional |
1,849,658 |
|
1,914,134 |
|
(3.4%) |
|
|
17,998,523 |
|
18,446,296 |
|
(2.4%) |
|
|
International |
6,706,128 |
|
6,590,279 |
|
1.8% |
|
|
70,724,421 |
|
68,463,035 |
|
3.3% |
|
|
|
Latin America |
1,280,419 |
|
1,123,912 |
|
13.9% |
|
|
15,092,831 |
|
12,673,819 |
|
19.1% |
|
|
|
Delta Mainline |
1,252,630 |
|
1,111,407 |
|
12.7% |
|
|
14,791,791 |
|
12,509,325 |
|
18.2% |
|
|
|
Regional |
27,788 |
|
12,505 |
|
122.2% |
|
|
301,040 |
|
164,494 |
|
83.0% |
|
|
|
Atlantic |
3,442,217 |
|
3,464,734 |
|
(0.6%) |
|
|
34,881,309 |
|
34,890,528 |
|
(0.0%) |
|
|
|
Pacific |
1,983,492 |
|
2,001,633 |
|
(0.9%) |
|
|
20,750,280 |
|
20,898,688 |
|
(0.7%) |
|
|
Total System |
17,036,793 |
|
16,257,731 |
|
4.8% |
|
|
171,927,075 |
|
165,056,209 |
|
4.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASMs (000): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic |
12,143,309 |
|
11,770,445 |
|
3.2% |
|
|
118,201,842 |
|
115,912,382 |
|
2.0% |
|
|
|
Delta Mainline |
9,818,419 |
|
9,301,044 |
|
5.6% |
|
|
95,635,038 |
|
92,069,142 |
|
3.9% |
|
|
|
Regional |
2,324,889 |
|
2,469,401 |
|
(5.9%) |
|
|
22,566,804 |
|
23,843,240 |
|
(5.4%) |
|
|
International |
8,186,589 |
|
7,847,981 |
|
4.3% |
|
|
83,776,964 |
|
80,501,919 |
|
4.1% |
|
|
|
Latin America |
1,573,159 |
|
1,369,880 |
|
14.8% |
|
|
18,067,341 |
|
15,113,697 |
|
19.5% |
|
|
|
Delta Mainline |
1,534,641 |
|
1,353,636 |
|
13.4% |
|
|
17,667,568 |
|
14,900,837 |
|
18.6% |
|
|
|
Regional |
38,518 |
|
16,244 |
|
137.1% |
|
|
399,773 |
|
212,860 |
|
87.8% |
|
|
|
Atlantic |
4,130,022 |
|
4,035,230 |
|
2.3% |
|
|
40,949,501 |
|
40,658,367 |
|
0.7% |
|
|
|
Pacific |
2,483,407 |
|
2,442,871 |
|
1.7% |
|
|
24,760,122 |
|
24,729,855 |
|
0.1% |
|
|
Total System |
20,329,897 |
|
19,618,426 |
|
3.6% |
|
|
201,978,806 |
|
196,414,301 |
|
2.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Load Factor: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic |
85.1% |
|
82.1% |
|
3.0 |
pts |
|
85.6% |
|
83.3% |
|
2.3 |
pts |
|
|
Delta Mainline |
86.4% |
|
83.4% |
|
3.0 |
pts |
|
87.0% |
|
84.9% |
|
2.1 |
pts |
|
|
Regional |
79.6% |
|
77.5% |
|
2.1 |
pts |
|
79.8% |
|
77.4% |
|
2.4 |
pts |
|
International |
81.9% |
|
84.0% |
|
(2.1) |
pts |
|
84.4% |
|
85.0% |
|
(0.6) |
pts |
|
|
Latin America |
81.4% |
|
82.0% |
|
(0.6) |
pts |
|
83.5% |
|
83.9% |
|
(0.4) |
pts |
|
|
Delta Mainline |
81.6% |
|
82.1% |
|
(0.5) |
pts |
|
83.7% |
|
84.0% |
|
(0.3) |
pts |
|
|
Regional |
72.1% |
|
77.0% |
|
(4.9) |
pts |
|
75.3% |
|
77.3% |
|
(2.0) |
pts |
|
|
Atlantic |
83.3% |
|
85.9% |
|
(2.6) |
pts |
|
85.2% |
|
85.8% |
|
(0.6) |
pts |
|
|
Pacific |
79.9% |
|
81.9% |
|
(2.0) |
pts |
|
83.8% |
|
84.5% |
|
(0.7) |
pts |
|
Total System |
83.8% |
|
82.9% |
|
0.9 |
pts |
|
85.1% |
|
84.0% |
|
1.1 |
pts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mainline Completion Factor |
99.9% |
|
99.9% |
|
0.0 |
pts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Passengers Boarded |
14,853,097 |
|
14,072,055 |
|
5.6% |
|
|
144,402,309 |
|
138,763,536 |
|
4.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cargo Ton Miles (000): |
214,679 |
|
216,689 |
|
(0.9%) |
|
|
1,982,627 |
|
1,960,882 |
|
1.1% |
|
Endnote:
a Results
include flights operated under contract carrier arrangements
Delta Air Lines (NYSE:DAL)
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