8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 29, 2007

DELTA AIR LINES, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-05424	58-0218548
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

P.O. Box 20706, Atlanta, Georgia 30320-6001

(Address of principal executive offices)

Registrant’s telephone number, including area code: (404) 715-2600

Registrant’s Web site address: www.delta.com

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

Delta Air Lines, Inc. today issued a press release reporting financial results for the month ended February 28, 2007. The press release is furnished as Exhibit 99.1. The information furnished in this Form 8-K shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit 99.1 Press Release dated March 29, 2007 titled “Delta Air Lines Reports Monthly Results for February 2007”

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SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DELTA AIR LINES, INC.
	By: /s/ Edward H. Bastian
Date: March 29, 2007	Edward H. Bastian        Executive Vice President and Chief Financial        Officer

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EXHIBIT INDEX

Exhibit Number	Description
Exhibit 99.1	Press Release dated March 29, 2007 titled “Delta Air Lines Reports Monthly Results for February 2007”

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE DISTRIBUTION

CONTACT: Investor Relations 404-715-2170   Corporate Communications 404-715-2554

Delta Air Lines Reports Monthly Results for February 2007

ATLANTA,March 29, 2007 - Delta Air Lines (Other OTC: DALRQ) today filed its Monthly Operating Report for February 2007 with the U.S. Bankruptcy Court for the Southern District of New York. Key points include:

· Delta’s February 2007 net income was $55 million.

· As of February 28, 2007, Delta had $2.7 billion of unrestricted cash, cash equivalents and short-term investments.

Delta reported net income of $55 million in the month of February 2007, compared to a net loss of $209 million in February 2006. Excluding reorganization items, Delta’s net loss was $43 million for February 2007, a $95 million improvement versus the prior year period. Delta’s operating loss of $5 million includes a $5 million negative impact of fuel hedges for the month. As of February 28, 2007, Delta had $3.7 billion of cash, cash equivalents and short-term investments, of which $2.7 billion was unrestricted.

Restructuring Progress

Delta remains on course to emerge from Chapter 11 next month, having made significant progress in transforming the airline into a strong and vibrant competitor. Evidence of the company’s progress in February’s performance:

· Delta’s consolidated passenger unit revenue (PRASM) increased 1.4% for February 2007 compared to February 2006. Delta’s length of haul adjusted PRASM was 95.5% of industry average for the month, driven by the strength of its domestic system which increased to 100% of industry average PRASM.

· Delta’s operating expenses decreased 1.8% despite a capacity increase of 2.8%, resulting in a 4.5% reduction in consolidated unit costs (CASM) in February 2007 compared to February 2006. Mainline non-fuel CASM was 7.61 cents for the month, a 7.6% improvement year over year.

"February’s results demonstrate the significant momentum we have created with our restructuring,” said Edward H. Bastian, Delta’s executive vice president and chief financial officer. “We look forward to emerging from bankruptcy in a matter of weeks, having transformed our company into a strong, healthy competitor in this tough industry.”

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Important Financial Disclosure

Current holders of Delta’s equity will not receive any distributions under Delta’s proposed Plan of Reorganization. These equity interests would be cancelled upon the effectiveness of the proposed Plan of Reorganization, which the company believes will occur shortly after the confirmation hearing scheduled on April 25, 2007. Accordingly, we urge that caution be exercised with respect to investments in Delta’s existing equity securities and any of Delta’s liabilities and other securities.

About Delta

Delta Air Lines (Other OTC: DALRQ) offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service to 308 destinations in 52 countries. With more than 60 new international routes added in the last year, Delta is America’s fastest growing international airline and is a leader across the Atlantic with flights to 31 trans-Atlantic destinations. To Latin America and the Caribbean, Delta offers more than 600 weekly flights to 58 destinations. Delta's marketing alliances also allow customers to earn and redeem SkyMiles on more than 14,000 flights offered by SkyTeam and other partners. Delta is a founding member of SkyTeam, a global airline alliance that provides customers with extensive worldwide destinations, flights and services. Including its SkyTeam and worldwide codeshare partners, Delta offers flights to 462 worldwide destinations in 99 countries. Customers can check in for flights, print boarding passes and check flight status at delta.com.

Statements in this news release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections or strategies for the future, may be “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to prosecute, confirm and consummate our proposed plan of reorganization with respect to the Chapter 11 proceedings; the actions and decisions of our creditors and other third parties with interests in our Chapter 11 proceedings; our ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted from time to time; our ability to obtain and maintain normal terms with vendors and service providers; our ability to maintain contracts that are critical to our operations; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for us to propose and confirm one or more plans of reorganization, to appoint a Chapter 11 trustee or to convert the cases to Chapter 7 cases; the cost of aircraft fuel; the impact that our indebtedness will have on our financial and operating activities and our ability to incur additional debt; the restrictions that financial covenants in our financing agreements will have on our financial and business operations; labor issues; interruptions or disruptions in service at one of our hub airports; our increasing dependence on technology in our operations; our ability to retain management and key employees; restructurings by competitors; the effects of terrorist attacks; and competitive conditions in the airline industry. 

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Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in Delta’s Securities and Exchange Commission filings, including its Form 10-K for the fiscal year ended December 31, 2006, filed on March 2, 2007.

Current holders of Delta’s equity will not receive any distributions under Delta’s proposed Plan of Reorganization. These equity interests would be cancelled upon the effectiveness of the proposed Plan of Reorganization. Accordingly, we urge that caution be exercised with respect to investments in Delta’s existing equity securities and any of Delta’s liabilities and other securities. Investors and other interested parties can obtain information about Delta’s Chapter 11 filing on the Internet at delta.com/restructure. Court filings, claims information and our proposed Plan of Reorganization are available at deltadocket.com. Caution should be taken not to place undue reliance on Delta’s forward-looking statements, which represent Delta’s views only as of March 29, 2007, and which Delta has no current intention to update.

None of the statements in this press release is a solicitation of votes for or against any plan of reorganization. Any such solicitation will only be made through a disclosure statement approved by the Bankruptcy Court pursuant to section 1125 of the Bankruptcy Code.

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Note 1: The following table shows a reconciliation of certain financial measures adjusted for the items shown below.

· Delta presents length of haul adjusted PRASM excluding charter revenue because management believes this provides a more meaningful comparison of the company’s PRASM to the industry.

· Delta presents mainline CASM excluding fuel expense because management believes high fuel prices mask the progress that Delta achieved toward its business plan targets.

	For the			For the
	Month Ended			Month Ended
	February 28, 2007			February 28, 2006
(in cents)
PRASM		10.47			10.33
Adjustment for charter revenue		(0.04	)		(0.08	)
PRASM excluding charter revenue		10.43			10.25
Length of haul adjustment		(0.48	)		(0.62	)
Length of Haul adjusted PRASM excluding charter revenue		9.95			9.63
(in cents)
Domestic System PRASM		11.48			11.09
Length of haul adjustment		(0.46	)		(0.39	)
Length of haul adjusted Domestic System PRASM		11.02			10.70
(in cents)
Mainline CASM		10.39			11.15
Items excluded:
Fuel expense		(2.78	)		(2.91	)
Mainline CASM excluding fuel expense		7.61			8.24

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