Delta Air Lines vs American Airlines Group Business Model (2026)
Delta Air Lines earns most from Passenger (81.7%), while American Airlines Group earns most from Passenger (90.9%). Computed from Delta Air Lines 10-K FY2025 and American Airlines Group 10-K FY2025.
Last checked 2026-10-18 on the official pages.
Delta Air Lines
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 ↗ |
American Airlines Group
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Passenger | $49,643 million ($49.6 billion) | 90.9% | 10-K FY2025 ↗ |
| Cargo | $839 million | 1.5% | 10-K FY2025 ↗ |
| Loyalty program marketing services | $3,511 million ($3.5 billion) | 6.4% | 10-K FY2025 ↗ |
| Other revenue | $640 million | 1.2% | 10-K FY2025 ↗ |
| Total revenue | $54,633 million ($54.6 billion) | — | 10-K FY2025 ↗ |
Shared business models
Company and model pages
Delta Air Lines · American Airlines Group
Delta Air Lines: Loyalty and stored value
American Airlines Group: Loyalty and stored value
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.
How does American Airlines Group make money?
American Airlines Group makes money mainly from Passenger. Its FY2025 total revenue was $54,633 million ($54.6 billion), with Passenger the biggest disclosed revenue line at $49,643 million ($49.6 billion) and 90.9% of total revenue (computed from the 10-K FY2025). American’s sales of loyalty miles to partners combine transportation and marketing revenue.