Exhibit 12                    

DELTA AIR LINES, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES
 (in millions, except ratios)

	Three Months Ended							Six Months Ended
	June 30,							June  30,
	2004				2003			2004			2003
Earnings (loss)
Income (loss) before income taxes	$	(429	)	$		301		$	(1,027	)	$	(423	)
Add (deduct)
Fixed charges from below		370				363			735			714
Income from equity investees		-				(11	)		(3	)		(18	)
Distributed income of equity investees		-				20			-			44
Interest capitalized		(3	)			(3	)		(5	)		(6	)
Earnings (loss) as adjusted	$	(62	)	$		670		$	(300	)	$	311
Fixed charges
Interest expense, including capitalized amounts and
amortization of debt costs	$	200		$		195		$	397		$	374
Preference security dividend		5				6			9			12
Portion of rental expense representative of the
interest factor		165				162			329			328
Total fixed charges	$	370		$		363		$	735		$	714
Ratio of earnings (loss) to fixed charges (1)		(0.17	)			1.85			(0.41	)		0.44

(1) Fixed charges exceeded our adjusted earnings (loss) by $432 million and $1 billion for the three and six months ended
June 30, 2004, respectively and by $403 million for the six months ended June 30, 2003.