1. Delta Airlines, Inc. Financial Analysis Presented By: Karen Brown Chintan Patel Pina Patel

2. 2003 DELTA SNAPSHOT PASSENGERS – 104 MILLION FLIGHTS – 2002 (DAILY) DESTINATIONS – 497 / 84 EMPLOYEES – 75,000 REVENUES – $13.3 BILLION NET INCOME – (-$773 MILLION)

3. Operating Revenues

4. Sales Growth

5. Net Income

6. Long Term Debt

7. Ratio Analysis Delta's 5 - Year Ratio Analysis 1998199920002001 Liquidity Ratios Current Ratio:0.500.610.560.60 Quick Ratio:0.330.380.400.35 Debt/Equity0.571.08 2.34 9.39 Asset Management Ratios Asset Turnover:0.940.870.610.55 Cash Conversion:30.9034.4030.2028.30 Profitability Ratios Profit Margin on Sales:7.41%4.87%-8.86%9.67% Return on Total Assets:7.00%4.24%-5.14%-5.33% Return on Equity:27.55%17.44%-29.33%-117.39%

8. Profitability Ratio Analysis

9. Delta vs. Industry Ratios Delta's vs. Industry Ratios DeltaIndustry Liquidity Ratios Current Ratio:0.751.42 Quick Ratio:0.531.19 Debt/Equity16.332.1 Asset Management Ratios Inventory Turnover65.8542.5 Asset Turnover:0.530.83 Efficiency Ratios Rev/ Emp 177,737.00 188,899.00 Profitability Ratios Profit Margin:-5.81%4.94% Return on Equity:-121.90%12.04%

10. DELTA INDUSTRY

11. Stock Prices

12. RECOMMENDATIONS REDUCE SALARY EXPENSES / EMPLOYEES SELL OFF PLANES INCREASE FUNDING AND RESOURCES TO SONG INCREASE INTERNET SALES SIMPLIFY PRICE STRUCTURE IMPROVE CUSTOMER SERVICE

13. QUESTIONS ???