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Delta Air Lines DAL Loyalty and related — Miles earned

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UALFrequent Flyer Program — Miles earned
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ALKLoyalty program other — Revenue recognized
-$51M-4.1%

Other financials

Income statement

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Revenue$19.8B+18.7%
Operating income$1.9B-11.3%
Net income$1.6B-24.7%
EPS (diluted)$2.44-25.4%

Balance sheet

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Cash & equivalents$4.8B+35.3%
Total debt$18.9B-8.1%
Total equity$21.8B+25.1%
Total assets$86.3B+10.1%

Cash flow

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Operating cash flow$1.6B-14.1%

Valuation

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Market cap$58.26B+67.7%
Enterprise value$72.42B+25.8%
P/E14.8×+7.0×
P/S0.9×+0.3×

Profitability

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Operating margin8.1%-1.3pp
Net margin5.8%-1.5pp

Returns & leverage

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Return on equity20.1%-9.9pp
Debt / equity-0.4×
Current ratio0.4×0.0×

Where this comes from

Reported directly by Delta Air Lines in its filing.

Tagged under the XBRL concept dal:LoyaltyProgramLiabilityMileageCreditsEarned.

The official record: Delta Air Lines’s 10-Q, filed July 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Delta Air Lines's loyalty and related — miles earned?
Delta Air Lines (DAL) reported loyalty and related — miles earned of $1.42B in Q2 2026.
How has Delta Air Lines's loyalty and related — miles earned changed year-over-year?
Delta Air Lines's loyalty and related — miles earned increased by 14.9% year-over-year, from $1.24B to $1.42B.
What is the long-term trend for Delta Air Lines's loyalty and related — miles earned?
Over 4 years (2021 to 2025), Delta Air Lines's loyalty and related — miles earned has grown at a 21.6% compound annual growth rate (CAGR), from $2.24B to $4.89B.
What does loyalty and related — miles earned mean?
This measures the total volume of loyalty program currency generated by customers through flights, credit card spending, and partner activities. It serves as a primary indicator of program participation and the velocity of the loyalty ecosystem. High levels of miles earned correlate strongly with customer retention and brand loyalty.