How Delta Air Lines Makes Money (2026)
Delta Air Lines makes money mainly from Passenger. Its FY2025 total revenue was $63,364 million ($63.4 billion), with Passenger the biggest disclosed revenue line at $51,768 million ($51.8 billion) and 81.7% of total revenue (computed from the 10-K FY2025). Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.
Last checked 2026-10-18 on the official pages.
Revenue breakdown
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Passenger | $51,768 million ($51.8 billion) | 81.7% | 10-K FY2025 ↗ |
| Cargo | $900 million | 1.4% | 10-K FY2025 ↗ |
| Refinery (other revenue) | $5,077 million ($5.1 billion) | 8.0% | 10-K FY2025 ↗ |
| Loyalty program (other revenue) | $3,362 million ($3.4 billion) | 5.3% | 10-K FY2025 ↗ |
| Ancillary businesses (other revenue) | $937 million | 1.5% | 10-K FY2025 ↗ |
| Miscellaneous (other revenue) | $1,320 million ($1.3 billion) | 2.1% | 10-K FY2025 ↗ |
| Total revenue | $63,364 million ($63.4 billion) | — | 10-K FY2025 ↗ |
The hidden model
Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.
Delta sells loyalty miles to partners whose customers earn rewards through everyday spending. verified
Customers earn miles based on their spending with participating companies such as credit card, retail, ridesharing, car rental and hotel companies with which we have marketing agreements to sell miles.
Delta reported resilient cash sales to American Express during the pandemic. verified
cash received from sales to American Express declined by less than 5% year over year to $1.9 billion
Delta reports remuneration from its American Express partnership. verified
In 2024, remuneration from American Express totaled $7.4 billion
Business models
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Frequently asked questions
How does Delta Air Lines make money?
Delta Air Lines makes money mainly from Passenger. Its FY2025 total revenue was $63,364 million ($63.4 billion), with Passenger the biggest disclosed revenue line at $51,768 million ($51.8 billion) and 81.7% of total revenue (computed from the 10-K FY2025). Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.
What is Delta Air Lines’ business model?
Delta Air Lines’ business model is Loyalty and Stored Value. A business sells rewards to partners or collects customer cash before redemption. Deferred obligations and repeat engagement become part of its economics; redemption terms determine the eventual cost. Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.
What is Delta Air Lines’ hidden model?
Delta sells loyalty miles to partners whose customers earn rewards through everyday spending.