delta air lines inc (DAL) Key Developments
Delta Air Lines, Inc. Unveils Next Phase of Terminal 4 Expansion at JFK International Airport
Jan 26 15
Delta Air Lines, Inc. and JFK International Air Terminal LLC have unveiled the next phase of a Terminal 4 expansion at John F. Kennedy International Airport. The $175 million project adds 11 gates and 75,000 square feet to Terminal 4's Concourse B and continues Delta's $1.2 billion investment to enhance and expand the terminal. Through this latest investment, Delta is significantly enhancing the customer experience at Terminal 4 and Terminal 2 by relocating a majority of its Delta Connection flights at JFK from Terminal 2 to the expanded Concourse B in Terminal 4. This will streamline travel for those with connecting flights at JFK and enhance access to amenities at both terminals. The new gates at Terminal 4 will feature enclosed jet bridges and offer customers proximity to a Sky Club and chef-driven restaurants. The expansion also facilitates intra-terminal connections with the addition of a new JFK Jitney bus stop at the end of Concourse B in Terminal 4 near the new gates. This will complement the existing stops located by gate B18 at the base of Concourse B in Terminal 4 and by gate C60 at Terminal 2. As a result of the expansion at Terminal 4, Delta customers at Terminal 2 will also enjoy an improved experience, as all Delta flights that will continue to operate there will use climate-controlled jet bridges. Customers will also have access to a renovated Sky Club, convenient iPad stations and a chef-driven food and beverage program featuring seven food and beverage concepts, fresh markets, coffee shops and concierge services. In second quarter 2015, the Terminal 2 bus stop will be refreshed, with escalators and elevators installed. The expanded Terminal 4-which JFKIAT has successfully operated for more than a decade-improves the customer experience for the 12 million passengers Delta serves at JFK annually. It also builds on Delta's $1.2 billion redevelopment of Terminal 4, which opened in May 2013. That expansion featured nine new and seven renovated international gates; improved and renovated check-in areas, including a dedicated Sky Priority check-in area; a centralized security checkpoint; new dining and retail offerings; a new 24,000 square-foot Delta Sky Club with the first-ever Sky Deck outdoor terrace; dual taxiways for less congestion and shorter taxi times; and improved Customs and Border Protection and baggage claim facilities.
Delta Air Lines, Inc. Reports Operating Results for the Quarter Ended December 2014
Jan 21 15
Delta Air Lines, Inc. reported operating results for the quarter ended December 2014. The company's operating revenue improved 6%, or USD 571 million, in the December 2014 quarter compared to the December 2013 quarter. Traffic increased 4.0% on a 3.7% increase in capacity. Passenger revenue increased 4.6%, or USD 361 million, compared to the prior year period. Passenger unit revenue (PRASM) increased 0.8% year over year with a 0.6% improvement in yield. Cargo revenue increased 2.1%, or USD 5 million, driven by increases in both freight volumes and yields. Other revenue increased 21.3%, or USD 205 million, driven by SkyMiles revenues, third-party refinery sales, and joint venture settlements.
Delta Air Lines, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Operating Margin Guidance for First Quarter Ended March 2015
Jan 20 15
Delta Air Lines, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net loss of $712 million or $0.86 per basic and diluted share on total operating revenues of $9,647 million compared to net income of $8,479 million or $9.89 per diluted share on total operating revenues of $9,076 million a year ago. Operating loss was $828 million compared to operating income of $701 million a year ago. Loss before income taxes was $1,140 million compared to income before income taxes of $475 million a year ago. Non-GAAP pretax income was $1,017 million compared to $543 million a year ago. Non-GAAP net loss was $368 million or $0.78 per diluted share compared to net income of $558 million a year ago. Net cash provided by operating activities, adjusted was $1,465 billion. Total free cash flow was $834 million. Capital expenditures, net was $620 million. Cash from operations during the December 2014 quarter was $1.5 billion, driven by the company's December quarter
profit. Cash from operations for the December 2014 quarter was $582 million. 2014 results include $1.1 billion in profit sharing expense, including $262 million in the December quarter, recognizing the employees' contributions toward meeting the company's financial goals.
For the year, the company reported net income of $659 million or $0.78 per diluted share on total operating revenues of $40,362 million compared to net income of $10,540 million or $12.29 per diluted share on total operating revenues of $37,773 million a year ago. Operating income was $2,206 million compared to $3,400 million a year ago. Income before income taxes was $1,072 million compared to $2,527 million a year ago. Non-GAAP pretax income was $4.5 million compared to $2.6 million a year ago. Non-GAAP net income was $2.8 million. Adjusted net debt was $7.3 million as on December 31, 2014. Total free cash flow was $3.7 billion. Net cash provided by operating activities was $4.9 billion.
The company provides earnings guidance for the first quarter ended March 2015. The company expects operating margin in the range of 11% to 13%. The company also expects system capacity to be up 5%; and system capacity - excluding impact of 2014 winter storms up 3% compared to first quarter of 2014.
Delta Air Lines, Inc. to Launch Daily Service Between Los Angeles and Shanghai
Jan 14 15
Delta Air Lines plans to begin daily nonstop service between Los Angeles International Airport and Shanghai-Pudong Airport on July 9, 2015, pending U.S. Department of Transportation and foreign government approval.
Delta Air Lines, Inc. Presents at 17th Annual Global Airfinance Conference Dublin 2015, Jan-21-2015 02:30 PM
Jan 6 15
Delta Air Lines, Inc. Presents at 17th Annual Global Airfinance Conference Dublin 2015, Jan-21-2015 02:30 PM. Venue: Convention Centre Dublin, Dublin, Ireland. Speakers: Andy Nelson, Managing Director & Assistant Treasurer.