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Press release from PR Newswire

Delta Reports Solid Financial and Operating Performance in March

Tuesday, April 03, 2012

Delta Reports Solid Financial and Operating Performance in March09:25 EDT Tuesday, April 03, 2012ATLANTA, April 3, 2012 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) today reported its financial and operating performance for March 2012.(Logo: http://photos.prnewswire.com/prnh/20090202/DELTALOGO )March consolidated passenger unit revenue (PRASM) increased 13.0 percent compared to the prior year period as a result of strong demand, particularly from corporate customers, which generated improvements in yield and load factor across all regions.  Revenue for the month exceeded prior expectations on improved close-in bookings and better Pacific performance.   System traffic increased 2.0 percent on a 3.4 percent reduction in capacity, resulting in a 4.4 point improvement in load factor.Delta employees also continued to make improvements to operating performance, a key satisfaction driver for customers.  The company's preliminary DOT on-time arrival rate of 85.7 percent was 7.2 points higher year over year, and its mainline completion factor increased 0.6 points to 99.7 percent.The company's financial and operational performance is detailed below.Preliminary Financial and Operational Results ? March 2012 Consolidated PRASM change year over year13.0%Consolidated average fuel price$3.37On-time performance (preliminary DOT A14)85.7%Mainline completion factor99.7%Note: Fuel price includes taxes, transportation, settled hedges, and hedge premiums, but excludes mark to market adjustments on open hedges.Delta Air Lines serves more than 160 million customers each year. During the past year, Delta was named domestic "Airline of the Year" by the readers of Travel Weekly magazine, was named the "Top Tech-Friendly U.S. Airline" by PCWorld magazine for its innovation in technology and won the Business Travel News Annual Airline Survey. With an industry-leading global network, Delta and the Delta Connection carriers offer service to nearly 350  destinations in 62 countries on six continents. Headquartered in Atlanta, Delta employs 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. A founding member of the SkyTeam global alliance, Delta participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia. Including its worldwide alliance partners, Delta offers customers more than 13,000 daily flights, with hubs in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita. The airline's service includes the SkyMiles frequent flier program, a world-class airline loyalty program; the award-winning BusinessElite service; and more than 50 Delta Sky Clubs in airports worldwide. Delta is investing more than $2 billion through 2013 in airport facilities and global products, services and technology to enhance the customer experience in the air and on the ground. Customers can check in for flights, print boarding passes, check bags and review flight status at delta.com. Monthly Traffic Results (a)Year to Date Traffic Results (a)March 2012March 2011ChangeMarch 2012March 2011ChangeRPMs (000):Domestic10,115,26510,082,0920.3%26,229,93726,021,9650.8%Delta Mainline7,943,5127,933,0720.1%20,643,60720,515,8290.6%Regional2,171,7532,149,0201.1%5,586,3305,506,1361.5%International6,344,6216,062,0484.7%17,129,13916,907,3991.3%Latin America1,401,3721,333,9815.1%3,669,4613,600,7161.9%    Delta Mainline1,388,7881,318,8325.3%3,632,3983,555,6282.2%    Regional12,58415,149(16.9%)37,06245,088(17.8%)Atlantic2,921,4192,932,432(0.4%)7,716,0797,776,697(0.8%)Pacific2,021,8301,795,63512.6%5,743,6005,529,9863.9%Total System16,459,88616,144,1402.0%43,359,07642,929,3641.0%ASMs (000):Domestic11,717,75312,108,022(3.2%)32,278,30833,094,813(2.5%)Delta Mainline9,044,0939,347,784(3.2%)24,881,36825,586,460(2.8%)Regional2,673,6602,760,238(3.1%)7,396,9407,508,353(1.5%)International7,847,4588,155,029(3.8%)22,135,87723,123,962(4.3%)Latin America1,796,8581,734,3173.6%4,708,9344,727,514(0.4%)    Delta Mainline1,777,2221,710,9283.9%4,648,1484,656,419(0.2%)    Regional19,63723,389(16.0%)60,78771,095(14.5%)Atlantic3,589,7373,991,102(10.1%)10,349,43311,353,634(8.8%)Pacific2,460,8632,429,6101.3%7,077,5107,042,8140.5%Total System19,565,21120,263,051(3.4%)54,414,18456,218,775(3.2%)Load Factor:Domestic86.3%83.3%3.0pts81.3%78.6%2.7ptsDelta Mainline87.8%84.9%2.9pts83.0%80.2%2.8ptsRegional81.2%77.9%3.4pts75.5%73.3%2.2ptsInternational80.8%74.3%6.5pts77.4%73.1%4.3ptsLatin America78.0%76.9%1.1pts77.9%76.2%1.7pts    Delta Mainline78.1%77.1%1.0pts78.1%76.4%1.7pts    Regional64.1%64.8%(0.7)pts61.0%63.4%(2.4)ptsAtlantic81.4%73.5%7.9pts74.6%68.5%6.1ptsPacific82.2%73.9%8.3pts81.2%78.5%2.7ptsTotal System84.1%79.7%4.4pts79.7%76.4%3.3ptsMainline Completion99.7%99.1%0.6pts37,556,81436,765,1482.2%FactorPassengers Boarded14,492,36814,223,7761.9%Cargo Ton Miles (000):211,532218,614(3.2%)571,123587,933(2.9%)Endnote:(a) Results include flights operated under contract carrier arrangements.Reconciliation of GAAP Financial Measures to Non-GAAP Financial MeasuresMarch 2012Delta sometimes uses information that is derived from its Consolidated Financial Statements, but that is not presented in accordance with accounting principles generally accepted in the U.S. ("GAAP"). Certain of this information are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules.  The non-GAAP financial measures should 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 adjusts for mark to market ("MTM") adjustments for fuel hedges recorded in periods other than the settlement period in order to evaluate the company's financial results in the period shown.March 2012(preliminary)Average price per fuel gallon including fuel expense incurred under contract carrier arrangements$3.44MTM adjustments for fuel hedges recorded in periods other than the settlement period(0.07)Average price per fuel gallon adjusted $3.37SOURCE Delta Air LinesFor further information: Corporate Communications, +1-404-715-2554, media@delta.com, Investor Relations, +1-404-715-2170