Global U.S. airline
Delta Air Lines
Delta Air Lines earns primarily from passenger transportation and SkyMiles partnerships, with additional revenue from cargo, maintenance, and refinery operations. It spends on aircraft, engines, fuel, airport facilities, and regional-carrier capacity while taking equity stakes in other airlines to extend its international network.
DAL Updated Sep 11, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, Delta Air Lines is directly linked to 4 companies (3 supply, 1 revenue relationships) and reaches 16 companies within two hops; the links are backed by 8 dated sources, 2 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 revenue from contracts with customers: $63.364 billion
- Segments · Passenger · Cargo · Other
Revenue from
- Passenger ticket customers High confidence· Amount $45.5B · FY2025 · Passenger ticket revenue recognized from ticket customers
Tickets purchased by leisure and corporate travelers are Delta's largest revenue source. Premium demand outpaced the main cabin in 2025, when ticket revenue reached $45.488 billion.Confirms EN Morningstar Published Oct 23, 2025: US and Canada Airline Industry Analysis: Key Insights - American Express High confidence· Amount $8.2B · FY2025 · Remuneration from the American Express SkyMiles partnership
American Express is Delta's most important SkyMiles purchaser. Remuneration from the co-brand card and Membership Rewards relationship totaled $8.2 billion in 2025.
Pays to
- Boeing High confidence· Count 130 aircraft · Firm Boeing order book as of 2026-01-13 · Firm Boeing orders comprising 100 737-10s and 30 787-10s
Boeing is a core aircraft supplier for Delta's long-term fleet renewal. The firm order book totals 130 aircraft, combining 100 737-10s with 30 787-10s ordered in January 2026. - Airbus High confidence· Count 31 aircraft · Definitive Airbus widebody order signed 2026-01-27 · New firm order comprising 16 A330-900s and 15 A350-900s
Airbus is a major aircraft supplier to Delta. In January 2026, Delta placed an additional firm order for 16 A330-900s and 15 A350-900s.Confirms EN Airbus Published Jan 28, 2026: Delta Air Lines Grows Airbus Fleet with Order for 31 Additional Widebody AircraftConfirms KO Delta News Hub Published Jan 10, 2025: Delta and Airbus Strengthen Innovative Partnership to Shape the Future of Global Travel - Viasat High confidence
Delta selected Viasat IFC across its narrowbody (A220, 737MAX) and widebody (A330, A350, 767) fleets, committing 1,000+ aircraft and making commercial aviation IFC a core Communication Services revenue driver, while American Airlines separately picked Viasat/Intelsat for about 90% of its 985-aircraft fleet (Apr 2025).Confirms EN Viasat Investor Relations Published Mar 27, 2023: Viasat to Provide In-Flight Connectivity to Additional Delta Aircraft, Including WidebodiesConfirms EN SpaceNews Published Mar 27, 2023: Delta Air Lines adds Viasat in-flight connectivity service
Investments
- WestJet High confidence· Amount $276M · October 2025 acquisition · Purchase price for a 12.7% equity stake in WestJet
Delta acquired a 12.7% stake in WestJet for $276 million in October 2025 to deepen commercial cooperation between the United States and Canada. It also assumed a commensurate share of a shareholder loan receivable from the previous owner.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| American Express | lead1 | +36.9 | -8.5 | +28.7 | +60.3 | +26 | -11.1 |
| Delta Air Lines | node | -2.8 | -15.9 | +23 | +52 | +16.1 | +16.4 |
| Viasat | benef1 | +36.4 | -28.9 | -11.7 | -69.6 | +304.9 | +118.6 |
| Boeing | benef1 | -6 | -5.4 | +36.8 | -32.1 | +22.7 | -2.2 |
| Moog | benef2 | +3.4 | +9.8 | +66.6 | +36.8 | +24.5 | +53 |
| Korean Airlines | benef2 | -7.1 | -6.1 | -4.2 | +13.8 | -6 | +33.6 |
| AMETEK, Inc. | benef2 | +22.3 | -4.3 | +18.8 | +10 | +14.7 | +16.1 |
| RTX | benef2 | +23.3 | +20 | -14.4 | +40.8 | +61.4 | +10.7 |
| Toray Industries | benef2 | +8.3 | +12.5 | -4.8 | +49.2 | +7.5 | +10.3 |
| GE Aerospace | benef2 | +9.7 | -10.9 | +95.7 | +64.8 | +85.7 | +9.7 |
| SpaceX | benef2 | · | · | · | · | · | +0.7 |
| Thales | benef2 | +12.5 | +52.5 | +14 | +17.8 | +66.6 | -7.5 |
| TransDigm Group Incorporated | benef2 | +2.8 | +1.8 | +66.6 | +32.3 | +12.2 | -12.6 |
| Mitsubishi Heavy Industries | benef2 | +7.2 | +68.3 | +100.5 | +134.2 | +98.3 | -16.7 |
| Korea Aerospace Industries | benef2 | +15.4 | +34.6 | +7 | +5.5 | +217.9 | -24.6 |
YTD as of 2026-09-04 · source: Yahoo Finance
Delta Air Lines operates across Global U.S. airline. It stayed steadily positive in recent years and is +16.4% in 2026. The supply side (avg +40.4%) leads the stock (+16.4%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Viasat (+118.6%) and the furthest behind is Boeing (-2.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on aircraft, engines, fuel, airport facilities, and regional-carrier capacity while taking equity stakes in other airlines to extend its international network.
Analysis generated from returns as of 2026-09-04