Delta Air Lines Reports Second Quarter 2025 Net Profit of $2.13 billion or $3.27 per Share

Delta Air Lines has reported a second quarter 2025 net profit of $2.13 billion or $3.27 per share on revenue of $16.65 billion, virtually flat year-over-year.  At June 30, 2025, Delta had $6.4 billion in total liquidity.

Delta Air Lines Reports Second Quarter 2025 Financial Results (Centennial Aircraft Livery Tailfin Pictured) - Courtesy Delta Air Lines

On Thursday (July 10, 2025), Delta Air Lines reported their second quarter financial results for the period ending June 30, 2025.  The carrier reported a second quarter net profit of $2.13 billion or $3.27 per share on a nominal year-over-year decline in revenue of $10 million to $16.65 billion.  Delta’s second quarter total revenue per available seat mile (TRASM) decreased 4.0 percent compared to Q2 2024 to 21.44 cents, while cost per available seat mile (CASM) declined 3.0 percent to 18.73 cents.  Costs excluding fuel (CASM-ex) increased 2.7 percent year-over-year to 13.49 cents.  During the second quarter, Delta made payments on debt and finance lease obligations of $2.9 billion, ending the period with debt and finance lease obligations of $15.1 billion.  At the end of the second quarter, Delta Air Lines had $6.4 billion in total liquidity, including cash, cash equivalents, short term investments, and undrawn revolving credit facilities.

In Thursday’s announcement, Delta Air Lines’ CEO, Ed Bastian, said,

“In the June quarter, Delta delivered record revenue on a 13% operating margin, generating $1.8 billion in pre-tax profit and leading network peers across key operational metrics.  This strong performance is a direct reflection of the outstanding contributions of our people, who continue to set the bar for industry performance.

“As we look to the second half of our centennial year, we remain focused on executing our strategic priorities and managing the levers within our control to deliver strong earnings and cash flow.  Reflecting our confidence in the business, we are restoring financial guidance with an expectation for earnings per share of $5.25 to $6.25 and free cash flow of $3 to $4 billion, consistent with our long-term free cash flow targets.”

Also commenting on the airlines’ Q2 2025 financial results, Delta’s President, Glen Hauenstein, said,

“Delta generated record June quarter revenue of $15.5 billion [non-GAAP], approximately 1 percent higher than prior year.  Through the quarter, demand trends stabilized at levels that are flat to last year and we continued to see resilience in our diverse, high-margin revenue streams. The team did a great job leveraging Delta’s structural advantages to optimize performance in this environment.  For the September quarter, we expect total revenue to be flat to up 4 percent compared to the prior year, with unit revenue trends expected to improve through the second half of the year as we continue to adjust capacity and the industry further rationalizes supply.”

Delta’s Chief Financial Officer, Dan Janki, added,

“Cost execution continues to be an important focus across the enterprise. June quarter non-fuel unit cost growth of 2.7 percent was similar to the March quarter and in line with expectations.  We expect the September quarter will be our best non-fuel unit cost performance of the year, with non-fuel unit costs flat to down compared to 2024.  For the full year, we remain on track to deliver non-fuel unit cost growth in the low-single digits year-over-year, consistent with our long-term target.

“During the first half of the year, we generated free cash flow of $2 billion, supporting our full year expectation for $3 to $4 billion of free cash flow.  With strong cash generation, we are well-positioned to deliver on our capital allocation priorities as we reinvest in the business, pay down $3 billion of debt this year, and return cash to shareholders, including a 25 percent increase to our quarterly dividend beginning in the September quarter.”

Delta Air Lines Second Quarter 2025 Financial Results - Courtesy Delta Air Lines

During the second quarter, Delta took delivery of 10 aircraft including Airbus A350-900s, A330-900s, A321neos and A220-300s, bringing the total year-to-date deliveries to 19 aircraft.  The carrier also retired ten aircraft in the period, bringing total 2025 retirements so far to 14 aircraft.

Delta also launched new, nonstop flights between Salt Lake City (SLC) and Seoul-Incheon (ICN), opening a new gateway between the U.S. and Asia.  Additionally, the carrier announced new nonstop service from Seattle (SEA) to Barcelona (BCN) and Rome (FCO) beginning May of 2026.  Delta also started operating their largest transatlantic schedule ever, including new and increased service to Barcelona, Sicily, Copenhagen, Dublin, Milan, Naples and more European destinations.

Atlanta-based Delta Air Lines (NYSE: DAL) is the global U.S. airline leader in safety, innovation, reliability and customer experience.  The carrier operates over 4,000 daily flights across more than 290 destinations on six continents.  The airline operates significant hubs and key markets in Amsterdam, Atlanta, Bogota, Boston, Detroit, Lima, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-JFK and LaGuardia, Paris-Charles de Gaulle, Salt Lake City, Santiago (Chile), São Paulo, Seattle, Seoul-Incheon and Tokyo.  For the last decade, Delta has led the industry in operational excellence, while maintaining their reputation for award-winning customer service.

Source: Delta Air Lines