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Delta Air Lines DAL Loyalty travel awards — Operating revenue

Other product segments

Refinery
$1.65B+55.7%
Loyalty and related
$1.22B+12.8%
MRO
$380M+152%
Miscellaneous
$71M+24.6%

Similar metrics at other companies

Southwest Airlines logo
LUVLoyalty program — Total operating revenues
$557M+2.4%
Alaska Air Group logo
ALKLoyalty program passenger revenue — Total Operating Revenue
$347M+9.8%
Alaska Air Group logo
ALKLoyalty program other — Total Operating Revenue
$227M+9.7%
Southwest Airlines logo
LUVPassenger loyalty - air transportation — Total operating revenues
$688M-14.0%
ALG
ALGTLoyalty redemptions — Passenger
$20.85M+15.2%
Southwest Airlines logo
LUVPassenger non-loyalty — Total operating revenues
$5.19B+8.9%

Other financials

Income statement

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Revenue$15.9B+12.9%
Operating income$501.0M-12.0%
Net income-$289.0M-220%
EPS (diluted)-$0.44-219%

Balance sheet

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Cash & equivalents$5.2B+32.8%
Total debt$19.4B-10.0%
Total equity$20.4B+31.9%
Total assets$84.4B+9.2%

Cash flow

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Operating cash flow$2.4B+2.3%

Valuation

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Market cap$61.53B+90.6%
Enterprise value$75.67B+53.0%
P/E13.7×+6.5×
P/S0.9×+0.4×

Profitability

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Operating margin8.8%-0.8pp
Net margin6.9%+1.0pp

Returns & leverage

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Return on equity25%-2.5pp
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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Delta Air Lines’s 10-Q, filed April 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Delta Air Lines's loyalty travel awards — operating revenue?
Delta Air Lines (DAL) reported loyalty travel awards — operating revenue of $1.03B in Q1 2026.
How has Delta Air Lines's loyalty travel awards — operating revenue changed year-over-year?
Delta Air Lines's loyalty travel awards — operating revenue increased by 9.5% year-over-year, from $940M to $1.03B.
What is the long-term trend for Delta Air Lines's loyalty travel awards — operating revenue?
Over 4 years (2021 to 2025), Delta Air Lines's loyalty travel awards — operating revenue has grown at a 24.1% compound annual growth rate (CAGR), from $1.79B to $4.24B.
What does loyalty travel awards — operating revenue mean?
This metric represents the portion of total operating revenue attributed to the redemption of loyalty program miles or points for air travel. It reflects the economic value recognized when loyalty program members utilize their earned rewards to book flights, effectively serving as an intercompany transfer between the loyalty program and the airline's flight operations. This revenue stream is a critical indicator of the engagement and perceived value of the airline's frequent flyer program.