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): September 8, 2004
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DELTA AIR LINES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-05424 58-0218548
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
P.O. Box 20706, Atlanta, Georgia 30320-6001
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(Address of principal executive offices)
Registrant's telephone number, including area code: (404) 715-2600
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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):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
As it has previously described in filings with the Securities and Exchange
Commission, Delta Air Lines, Inc. has recorded substantial net losses for the
three consecutive years ended December 31, 2003. During the six months ended
June 30, 2004, Delta's financial performance continued to deteriorate, and it
recorded an unaudited consolidated net loss of $2.3 billion for the six month
period then ended. Delta has stated that if it cannot make substantial progress
in the near term toward achieving a competitive cost structure that will permit
it to regain sustained profitability and access the capital markets on
acceptable terms, it will need to seek to restructure its costs under Chapter 11
of the U.S. Bankruptcy Code.
On September 8, 2004, Delta outlined key elements of a transformation plan to
improve the customer traveling experience while delivering significant savings.
Part of this plan includes dehubbing its Dallas/Fort Worth operations and
eliminating 6,000 - 7,000 jobs, including jobs eliminated as the result of the
dehubbing of Dallas/Fort Worth, over the next 18 months.
In connection with the dehubbing of its Dallas/Forth Worth operations and the
elimination of jobs, Delta anticipates that it will record accounting charges,
possibly including asset impairments, one-time termination and other termination
costs, contract termination costs and other associated costs. Delta is not able
at this time to estimate the amount and timing of these charges.
ITEM 7.01 REGULATION FD DISCLOSURE.
On September 8, 2004, Delta issued a press release outlining key elements of the
company's transformation plan. The press release is attached hereto as Exhibit
99.1.
The information furnished in this item 7.01 shall not be deemed incorporated by
reference into any other filing with the Securities and Exchange Commission.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit 99.1 Press Release dated September 8, 2004, titled "Delta
Air Lines Outlines Transformation Plan".
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
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Edward H. Bastian
Senior Vice President - Finance and
Date: September 8, 2004 Controller
EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release dated September 8, 2004, titled "Delta Air Lines
Outlines Transformation Plan".