Delta's 2018 annual report out 2/15/19
Feb 16, 2019, 6:50 am
#1
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Delta's 2018 annual report out 2/15/19
Some highlights:
In 2018 , 8.2% of revenue miles flown on Delta were from award travel, as program members redeemed miles in the loyalty program for 17.2 million award redemptions.
As of 12/31/18, Delta had 13,203 mainline pilots represented by the ALPA, with a contract amendable date of 12/31/19. The company had apx. 88,680 full-time-equivalent employees.
The company is down to 119 CRJ-200s, all operated by Endeavor (42) or SkyWest (77), from 136 a year earlier. There are 326 CR7/CR9/E70/E75s.
Delta counts 871 jets (675 of which are owned, not leased) in the mainline fleet with an average age of 16.0 years, and has purchase commitments for 315 mainline aircraft with options for another 150. After the MD-88s and two domestic F 763 (non-ERs), the oldest fleet type is the 320 at 23.4 years. 87 new planes are due this year (a little catch-up on A220s) and 75 next year.
Loyalty program revenue increased by $248 million while passenger revenues increased by $2.8 Billion.
Profit sharing expense increased $236 million to $1.3 billion , marking the fifth consecutive year that Delta employees will receive over $1 billion in recognition of their contributions to the company's performance.
Cash flows from operating activities continue to provide our primary source of liquidity. We generated positive cash flows from operations of $7.0 billion in 2018 , $5.0 billion in 2017 and $7.2 billion in 2016 . We had lower operating cash flows during 2017 primarily due to incremental pension plan contributions...
LGA redevelopment is expected to continue to 2026. We currently expect our net project cost to be approximately $3.3 billion with Delta bearing the risks of project construction, including any potential cost over-runs. Using funding provided by cash flows from operations and/or financing arrangements, we spent approximately $304 million on this project during 2018 and expect to spend approximately $530 million during 2019.
Delta continues to put 'extra' money toward funding its closed (and underfunded) pension plans. We had no minimum funding requirements in 2018. However, during the first three months of 2018, we voluntarily contributed approximately $500 million to these plans. We have no minimum funding requirements in 2019, but we plan to voluntarily contribute approximately $500 million to these plans.
The full annual report can be found with Delta's SEC filings. https://ir.delta.com/stock-and-finan...s/default.aspx
In 2018 , 8.2% of revenue miles flown on Delta were from award travel, as program members redeemed miles in the loyalty program for 17.2 million award redemptions.
As of 12/31/18, Delta had 13,203 mainline pilots represented by the ALPA, with a contract amendable date of 12/31/19. The company had apx. 88,680 full-time-equivalent employees.
The company is down to 119 CRJ-200s, all operated by Endeavor (42) or SkyWest (77), from 136 a year earlier. There are 326 CR7/CR9/E70/E75s.
Delta counts 871 jets (675 of which are owned, not leased) in the mainline fleet with an average age of 16.0 years, and has purchase commitments for 315 mainline aircraft with options for another 150. After the MD-88s and two domestic F 763 (non-ERs), the oldest fleet type is the 320 at 23.4 years. 87 new planes are due this year (a little catch-up on A220s) and 75 next year.
Loyalty program revenue increased by $248 million while passenger revenues increased by $2.8 Billion.
Profit sharing expense increased $236 million to $1.3 billion , marking the fifth consecutive year that Delta employees will receive over $1 billion in recognition of their contributions to the company's performance.
Cash flows from operating activities continue to provide our primary source of liquidity. We generated positive cash flows from operations of $7.0 billion in 2018 , $5.0 billion in 2017 and $7.2 billion in 2016 . We had lower operating cash flows during 2017 primarily due to incremental pension plan contributions...
LGA redevelopment is expected to continue to 2026. We currently expect our net project cost to be approximately $3.3 billion with Delta bearing the risks of project construction, including any potential cost over-runs. Using funding provided by cash flows from operations and/or financing arrangements, we spent approximately $304 million on this project during 2018 and expect to spend approximately $530 million during 2019.
Delta continues to put 'extra' money toward funding its closed (and underfunded) pension plans. We had no minimum funding requirements in 2018. However, during the first three months of 2018, we voluntarily contributed approximately $500 million to these plans. We have no minimum funding requirements in 2019, but we plan to voluntarily contribute approximately $500 million to these plans.
The full annual report can be found with Delta's SEC filings. https://ir.delta.com/stock-and-finan...s/default.aspx
Feb 16, 2019, 7:34 am
#3
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Some other interesting observations:
A year ago, Delta had 109 MD-88s — just 84 now. There was 65 MD-90s, just 43 now. 767-300ERs dropped from 57 to 56.
On in the flip side, 737-900ERs went from 89 to 112. A321s from 34 to 65. A350-900s from 6 to 11. Plus 4 A220-100s.
On the regional side, aside from the previously mentioned drop in CRJ-200s, there was also a significant drop in CRJ-700s, from 82 to 47. CRJ-900s went from 152 to 157. E-170s from 20 to 21 and E-175s from 70 to 101.
Last things plane related: After this year, Delta has, probably for the first time in decades, no active orders from Boeing. Everything still on order is Airbus, aside from 15 CRJ-900s. Scheduled for delivery this year:
4 A330-900s
24 A220-100s
32 A321s
2 A350-900
18 737-900ERs
7 CRJ-900s
A year ago, Delta had 109 MD-88s — just 84 now. There was 65 MD-90s, just 43 now. 767-300ERs dropped from 57 to 56.
On in the flip side, 737-900ERs went from 89 to 112. A321s from 34 to 65. A350-900s from 6 to 11. Plus 4 A220-100s.
On the regional side, aside from the previously mentioned drop in CRJ-200s, there was also a significant drop in CRJ-700s, from 82 to 47. CRJ-900s went from 152 to 157. E-170s from 20 to 21 and E-175s from 70 to 101.
Last things plane related: After this year, Delta has, probably for the first time in decades, no active orders from Boeing. Everything still on order is Airbus, aside from 15 CRJ-900s. Scheduled for delivery this year:
4 A330-900s
24 A220-100s
32 A321s
2 A350-900
18 737-900ERs
7 CRJ-900s