Current Report Filing (8-k)

 

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: [phone]

 

 

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”

 

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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

 

 

 

 

 

 

 

 

 

 

 

 

 

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EXHIBIT INDEX

 

 

Exhibit Number		Description
	Exhibit 99.1	Press Release dated November 4, 2014 titled “Delta Reports Financial and Operating Performance for October 2014”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Exhibit 99.1

 

 

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.

 

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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.

 

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			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

 

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