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Annual Report — FY 2025
Filed February 11, 2026
Revenue climbed to record levels driven by strong passenger demand across all geographic regions—domestic, transatlantic, Latin America, and Pacific—while the company aggressively paid down pandemic-era debt, retiring Payroll Support Program loans and refinancing its SkyMiles-backed credit facility to improve its balance sheet flexibility. Delta doubled down on its premium strategy, with loyalty program deferred revenue growing year-over-year and significant equity investments in global airline partners (LATAM, Grupo Aeromexico, Korean Air parent Hanjin-KAL, and WestJet), while also returning meaningful capital to shareholders through share repurchases. Looking ahead, the fleet modernization pipeline remains robust with substantial advance payments on new aircraft, and the company's investment-grade trajectory and $2.9 billion revolving credit facility signal management's confidence in sustaining earnings momentum despite macroeconomic uncertainty.
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Extracted Milestones (9)
App-Enabled Bag Drop and Touchless ID Expansion Across Network
Delta is deploying app-enabled bag drop and expanding touchless ID across its network to expedite customer movement through airport lobbies and security screening checkpoints.
Delta Concierge AI-Powered App Assistant Launched in Beta
Delta launched Delta Concierge in beta, an AI-powered assistant within the Fly Delta app designed to deliver real-time, personalized support to SkyMiles members.
WestJet ~13% Equity Stake Acquired with Commercial Cooperation Agreement
In 2025, Delta acquired an approximately 13% minority equity stake in WestJet and established a strategic commercial cooperation agreement covering U.S.-Canada traffic flows.
Maeve Aerospace Named as Fifth Sustainable Skies Lab Hybrid-Electric Fleet Partner
Delta announced a new partnership with Maeve Aerospace as its fifth Sustainable Skies Lab revolutionary fleet partner, focused on advancing hybrid-electric regional aircraft development.
1,000th Free Wi-Fi-Enabled Aircraft Enters Service
In December 2025, Delta celebrated the milestone of its 1,000th free Wi-Fi-enabled aircraft entering service, expanding fast and free Wi-Fi availability for all customers through a free SkyMiles account.
Delta Partners with JetZero to Develop Blended-Wing-Body Aircraft Targeting 50% Fuel Efficiency Gain
Delta announced a partnership with JetZero to develop a Blended-Wing-Body aircraft design expected to be 50 percent more fuel efficient than current aircraft in operation.
Airbus A330-900 and A350-900 Widebody Aircraft Orders Placed
On January 27, 2026, Delta placed orders for Airbus A330-900, A350-900, and additional widebody aircraft as part of its fleet modernization and international expansion strategy.
Boeing 787-10 Aircraft Order Placed
As a subsequent event after December 31, 2025, Delta placed an order for Boeing 787-10 aircraft on January 12, 2026, as part of its fleet renewal strategy.
AI-Powered Baggage Routing and Gate Decision Systems Deployed
Delta began adopting AI models in operations to help route and distribute bags with short connection timeframes and make gating decisions aimed at keeping flights on time.