~Att(__, 
DELTA AIR LINES, INC. ANNUAL REPORT 1966 
 DELTA'S JET FLEET TODAY AND PROJECTED TO 1970 
Types of Planes 
Fleet DELIVERIES IN FISCAL YEARS Fleet 
Total Total 
6/30/66 1967 1968 1969 1970 6/30/70 
DC-8-133 Passengers 20 1 - - - 21 
DC-8-195 Passengers - 3 2 5* 2* 12 
CV-880-96 Passengers 16 - - - - 16 
DC-9-65 Passengers 8 6 - - - 14 
DC-9- 89 Passengers - 8 17 3 3* 40 
9* 
L-100-Air Freight - 3 - - - 3 
Total Planes 44 21 19 17 5 106 
*Options 
THE COVER. The remarkable 3-dimensional quality in the cover photo showing one of Delta's 
new DC-9s leaving the Atlanta terminal was achieved by the newly perfected XOGRAPH process. 
The Delta Jet fleet will 
more than double in the 
next four years, assuming 
all options are exercised. 
 DELTA AIR LINES, INC. ANNUAL REPORT 1966 
FOUR DECADES OF SERVICE 
C. E. Woolman, founder of Delta Air Lines and formerly Chairman of the Board 
and Chief Executive Officer, passed away on September 11, 1966, after his nReport to 
Stockholders'' had been released to the printer. 
In 1925 Mr. Woolman and a few business associates in Monroe, Louisiana, 
formed the world's first commercial aerial crop-dusting company. From this humble 
beginning emerged Delta Air Lines, today the nation's fifth largest and the world's 
seventh largest airline. 
Under Mr. Woolman's energetic leadership and unselfish devotion, Delta has 
achieved steady economic and financial growth. His character, leadership and the 
warmth of his personality resulted in his being loved by his friends, esteemed by his 
fellow workers and respected by all with whom he came in contact. 
Mr. Woolman's energy and counsel will be missed, not only by the Delta family 
but by the aviation industry in which he played such a leading role. I am confident, 
however, that the team spirit which Mr. Woolman's leadership developed will carry 
Delta on to continuing growth and achievement. 
PRESIDENT 
HIGHLIGHTS OF THE YEAR 
A comparative summary of the major yardsticks for evaluation of 
operations for years ended June 30 is shown below. Dollars are 
expressed in thousands except per share figures. 
Per Cent 
1966 1965 Change 
Operating Revenues ...... .... . $318,930 $257,460 +24 % 
Operating Expenses ........ . . . . $253,092 $213,131 +19 
Net Income . .......... . . .. .... $ 34,554 $ 23,005 +50 
Shares Outstanding at year end .. 6,375,000 6,375,000* 
Earnings Per Share .. ... . . ..... $5.42 $3.61 * +50 
Total Stockholder Equity ....... $123,675 $ 95,177 +30 
Stockholder Equity Per Share . .. $19.40 $14.93* +30 
Revenue Passengers Carried .... 7,556,422 5,964,269 +27 
Available Seat Miles (000) . . . ... 8,196,349 6,793,654 +21 
Revenue Passenger Miles (000) . . 4,997,958 3,855,012 +30 
Passenger Load Factor ...... . .. 60.98 % 56.74 % 
*Adjusted to reflect 2-for-1 stock split December 13, 1965 
1 
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REPORT TO THE STOCKHOLDERS 
The fiscal year which ended June 30, 1966 
was one of extraordinary growth, adding 
still another significant chapter to Delta's 
record of consistent progress. 
A continuing expansion of jet services 
produced record results in every phase of 
our operations. Revenues increased 24 % , 
to a record total of $318,930,000, while op- 
erating expenses were up only 19%, despite 
significant training and introductory ser- 
vice costs in connection with our new twin- 
jet DC-9 fleet. As a result, after-tax earn- 
ings increased 50 % over the previous fiscal 
year to $34,554,000 or $5.42 per share, after 
adjustment for the 2-for-1 stock split which 
was distributed on December 13, 1965. 
During the fiscal year available seat mile 
capacity was increased by 21 %. A record 
7.5 million passengers flew almost 5 billion 
revenue passenger miles, an increase of 30 % 
that was significantly higher than the 
average growth for the trunkline industry. 
Of the revenue passenger mile total, 82 % 
was carried in jet aircraft and 76 % was 
in tourist with only 24 % in first class. 
In fiscal year 1966 Delta increased its 
share of total domestic trunkline traffic 
from 8.5 % to 9.0 %. Indicative of the con- 
tinuing traffic development achieved was 
the fact that in 1966 Delta's one millionth 
Atlanta passenger was boarded on June 
21st, which was 65 days earlier than the 
same milepost was reached in 1965, and 
more than three months earlier than the 
attainment of the same traffic level in 1964. 
During fiscal 1966 Del ta became the first 
airline to operate the new twin-jet Douglas 
DC-9 commercially. This was your Com- 
pany's third such ufirst," Delta having 
been the first commercial operator of the 
Douglas DC-8 in 1959 and the first opera- 
tor of the Convair 880 in 1960. 
Eight of our 65-passenger DC-9 aircraft 
were delivered during the fiscal year 1966 
and an additional six are scheduled for de- 
livery during the first half of fiscal 1967. In 
addition, as a result of the excellent public 
acceptance and operating performance of 
the DC-9 airplane, 28 of the 89-passenger 
version now have been placed on firm order 
for delivery between fiscal 1967 and 1969, 
and options have been taken for the ac- 
quisition of another 12 of these aircraft. 
Also during fiscal 1966, the DC-8 fleet 
was increased by four airplanes, with a fifth 
being delivered early in the new fiscal year, 
making a total of 21 standard configuration 
DC-8s now in service. 
In addition, five 195-passenger ((stretch- 
ed" DC-8s are on firm order, for delivery 
in fiscal 1967 and 1968, and seven more 
such aircraft are on option. 
 In summary, at the end of fiscal year 
1966 our jet fleet numbered 44 aircraft, but 
firm commitments and negotiated options 
will increase this total to 103 by the end of 
1969. These commitments and options will 
require a financial outlay of approximately 
a quarter of a billion dollars over the years 
1966-1969. Financing will be with inter- 
nally-generated funds, with the exception 
of $45,000,000 that may be required to 
meet a temporary peaking during late 1967. 
Arrangements were recently concluded 
with twenty-three banks to provide this 
amount under a revolving credit planter- 
minating in 1970, but it is anticipated that 
loans under this commitment will be paid 
off prior to the end of calendar year 1969. 
In recent years there has been a substan- 
tial decline in passenger mile yield, due in 
part to the increasing use of tourist ser- 
vices and in part to the introduction of a 
number of promotional fares designed to 
attract new airline travelers through a 
broadening of the market base. Our ability 
to lower fares while still improving profits 
has been due to substantial traffic in- 
creases, coupled with reductions in unit 
costs achieved through the operating ef- 
ficiency of our new jet aircraft. The year- 
to-year decrease achieved in our unit costs, 
however, has already become less pro- 
nounced. Wages, fringe benefits and the 
cost of aircraft, parts and materials have 
continued to rise. 
In the future, of course, we hope to 
achieve still further cost improvements by 
replacing our remaining DC-6 and DC-7 
piston-powered aircraft with twin-jet 
DC-9s during fiscal years 1967 and 1968, 
and through the introduction of stretched 
DC-8s beginning early in 1967. Our ability 
to achieve this goal, however, will depend 
in large part on the ability of our country 
to avoid spiraling inflation while sustaining 
a sound and continuing economic growth. 
Delta's management strength was again 
broadened during the past fiscal year. 
Your Board of Directors elected me to 
serve as Chairman of the Board and Chief 
Executive Officer of the Company, ad- 
vancing Charles H. Dolson to the position 
of President and David C. Garrett, Jr. to 
the office of Vice President-Operations. 
I have every confidence in the ability of 
these gentlemen to discharge their new 
responsibilities in a most effective manner 
and, based upon his 31 years of experience 
with Delta, Mr. Dolson as President will 
be able to assist me more meaningfully in 
the day-to-day operations of one of the 
finest air lines in the world. 
As has been true throughout our history, 
the achievements of the past year have 
been built upon the loyal and dedicated 
service of our entire personnel. During the 
prolonged work stoppage that idled five 
domestic trunklines at the beginning of the 
new fiscal year the response and productiv- 
ity of our people has once again demon- 
strated the abilities and esprit de corps of 
the Delta family during a most demanding 
period. For Delta, I take this opportunity 
of saluting their achievement and expres- 
sing our deep appreciation for their support. 
CHAIRMAN OF THE BOARD 
AND CHIEF EXECUTIVE OFFICER 
Septem her 9, 1966 
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The first of Delta's new Douglas DC-8 Super J ets, which will go into service early in 1967 with 195 
seats, will accommodate approximately as m any passengers as the 100 cars shown here would nor- 
m ally carry on the highway ... and, of course, far more co~fortably and about ten times faster. 
 REVENUES 
Opera ting revenues reached an all-time 
high of $318,930,000, increasing 24 % over 
the previous year. Revenue passengers 
carried increased 27 %, up 1,592,153 to a 
record total of 7,556,422. This was the 
largest numerical gain for a single year in 
Delta's history. 
Revenue passenger miles increased by 
30 % to 4,997,958,000, and accounted for 
$291,350,000 in passenger revenues. Delta's 
participation in the total domestic trunk- 
line market increased to an all-time high 
of 9.0 % in fiscal 1966. 
EXPENSES 
Operating expenses were $253,092,000, up 
only 19% over the previous year despite 
substantial DC-9 Fanjet introductory 
costs, which were not deferred, and an in- 
crease of 21 % in system seat mile capacity. 
The additional capacity resulted from the 
addition of eight DC-9s, four DC-8s and a 
concerted effort to increase utilization of 
the entire fleet. 
Notwithstanding major increases in sala- 
ries and fringe benefits, and the introduc- 
tory costs of the DC-9, a further modest 
decline of 1 % in available ton mile costs 
was achieved. On a revenue ton mile basis, 
unit costs were down 8 % , reflecting in- 
creased load factors. 
Daily utilization of all types of aircraft 
rose significantly, with the Convair 880 
and the DC-8 jets each showing gains of 
5 % . Furthermore, by year end, the new 
fleet of relatively short-haul DC-9 aircraft 
was achieving more than nine scheduled 
airborne hours per day. 
EARNINGS AND DIVIDENDS 
The 19th consecutive year of profitable 
operations by Delta saw net profit of 
$34,554,000, after providing for current 
and deferred tax liability. This was more 
than 40 % above the combined earnings 
for the 10 years preceding jet operations. 
Of the year's total net income, profits of 
$562,000 were derived from the disposition 
of flight equipment. Earnings per share 
were $5.42, based on the 6,375,000 common 
shares outstanding after the 2-for-1 stock 
split on December 13, 1965. The increase 
was 50 % over last year's net profit of 
$23,005,000, which amounted to $3.61 per 
share after adjustment for the stock split. 
Cash dividend payments for the year 
were $6,056,000, an increase of 25 % . The 
Board of Directors authorized a cash divi- 
dend of 20 per share (after adjustment 
for the stock split) for the first quarter, 
and 25  per share for each of the year's last 
three quarters. The new dividend rate on 
the shares outstanding after the stock split 
was, in effect, an increase of 25 % in the 
annual dividend rate. 
CAPITALIZATION AND FINANCING 
Stockholder equity at the end of the year 
amounted to $123,675,000, equivalent to 
$19.40 for each of the 6,375,000 shares out- 
standing. This compares to $95,177,000 
and $14.93 per share (after adjustment for 
the 2-for-1 stock split) at the beginning of 
this fiscal period. 
In June 1966, arrangements were com- 
pleted with a group of twenty-three banks 
to provide for borrowings of up to $45 
million under a revolving credit agreement 
extending through 1970. This revolving 
credit, together with internally generated 
funds, will provide adequate financing for 
the quarter billion dollar jet equipment ex- 
pansion program which has been scheduled 
for the years 1966 through 1969. 
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The expanding scop of D elta' pass ng r m arket is evident at ev ry boarding gate. 
SERVICES 
A new approach to scheduling, with a re- 
lated increase in daily utilization of air- 
craft and additional service , characterized 
Delta's <<Early Bird" program that was 
begun in Atlanta in April, 1966. 
The plan provides for a total of 17 early 
morning departures to 22 cities. The busi- 
ness traveler is offered numerous incen- 
tives to leave between 6 a.m. and 7 a.m., 
including low night coach fares, a full work 
day in a distant city without an overnight 
stay and quick travel to the airport on 
traffic-free expressways. The pattern also 
provided Delta with another departure 
ncomplex" at the Atlanta Airport during a 
relatively uncongested period and a prime 
time arrival at the first destination. 
An extensive advertising campaign gave 
<<Early Bird" an entirely new household 
and business-office meaning in the Atlanta 
area. The schedules have become com- 
muter favorites and the program will be 
expanded to other cities as traffic potentials 
and scheduling availability permit. 
There was also a continuing expansion 
of systemwide jet services, highlighted by 
the introduction of the DC-9 Fanjet. From 
an original pattern that served eight cities, 
DC-9 service was expanded to 28 cities at 
year end, with the heaviest concentration 
of schedules in the Mississippi Valley area 
where relatively short-haul operations 
made the DC-9 an ideal airplane. At June 
30th, for example, Memphis had 13 daily 
DC-9 departures, the most for any city on 
the system. The aircraft was an instant suc- 
cess from the standpoint of passenger 
popularity and mechanical reliability. The 
passenger load factor for the first six 
months was just over 80 %. 
Significant additions to the Southern 
Transcontinental Service pattern were 
made during the year, increasing to 13 the 
number of daily flights to and from Cali- 
fornia, in addition to a single turn-around 
at Las Vegas. The fifth anniversary of 
Southern Transcontinental Service was on 
June 11th. During these first five years 
Del ta carried more than two million pas- 
sengers to and from California. 
Delta's widely-recognized passenger ser- 
vice was improved when the installation 
of DELTAMATIC'.!J was completed early in the 
 DEL TA'S SHARE OF AIRLINE MARKET 
(Pe rcentage of Dome stic Trunkline Revenue Pa ssen g er Mile s) 
YEAR S ENDED JUNE 30 
10 - - - - - - - - - - - - - - - - - 
57 58 59 60 61 62 63 64 65 66 
* Competitor's service interrupted by strike 
fiscal year. The system includes 475 agents' 
sets tied into our Atlanta computer center, 
offering the fastest and most sophisticated 
reservations system in the industry. 
A more liberal baggage allowance was 
instituted during the year, eliminating 
weight limitations and permitting two 
bags to be checked free. Curbside bag- 
gage check-in also was instituted, expedit- 
ing procedures at many of the passenger 
terminals on the system. 
Considerable expansion of ground facili- 
ties has been undertaken. Work began in 
the first half of the year to expand the prin- 
cipal maintenance and overhaul center at 
Atlanta by approximately 375,000 square 
feet or 90 % ; a project which will cost in 
excess of $6,000,000. A $2,500,000 expan- 
sion of Delta's concourses at the Atlanta 
Airport, providing for six additional air- 
craft parking spaces, was in the final 
planning stage at the end of the year. Con- 
struction also has begun on a new Ground 
Training Center located on property adja- 
cent to the Atlanta Airport, where Delta 
will occupy approximately 53,000 square 
feet for classrooms, conference rooms, and 
technical libraries. This building will house 
the stewardess school and provide residence 
for stewardess trainees. Continuing im- 
provements in airport terminal and sales 
office facilities are in progress throughout 
our 14,000-mile system. 
PERSONNEL 
Consistent with Delta's policy of recog- 
nizing the fine work and loyal cooperation 
of its employees, two employee benefit 
programs were revised significantly. 
On November 1, 1965, Delta assumed all 
costs of the Group Insurance Plan for em- 
ployees and their families. Annual pre- 
miums of over $2.5 million are now being 
paid entirely by your Company. 
The U.S. Internal Revenue Service also 
has approved a major amendment to our 
existing retirement benefit program. Under 
the newly-approved program, effective Au- 
gust 1, 1966, employee retirement benefits 
will be accumulated at the rate of 1 % on 
the first $6,600 of wages (increased from 
$4,800 under the revised Social Security 
Act), and at 1.8% of earnings in excess of 
$6,600, funded by Delta with no cost to 
the individual employee. These improve- 
ments in the retirement income program 
increase its annual cost to Delta to $7 
million and result in benefits that are 
superior to other plans put in effect by the 
auto, steel and airframe industries. 
Delta thus becomes the first airline to 
underwrite the entire cost of both group 
insurance and retirement income plans. 
There was an increase of 1,902 employees 
during the year, with employment reaching 
a record high of 12,971 at the fiscal year's 
end. Total compensation, which again in- 
cluded a general wage increase and ap- 
propriate salary adjustments, rose to 
$112,844,000, up 21 % over last year. 
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CATEGORIES OF PASSENGER TRAFFIC 
P f r nue pas ng r mil s ompar d 
t ag of pass ng r r nu in m ont hs of 
J a nd 1966 
Discounted { 
fares - 11.5% 
YOUTH FARE 
EXCURSION 
FAMILY PLAN 
(Dependents on 
MILITA 
JUNE 1966 
36.6% 
Discounted 
fares - 25.0% 
50.7% 
59.2% 
58.2% 
AVERAGE RETURN per 
Revenue Passenger Mile 
6.03 
AVERAGE RETU RN per 
Revenue Passenger Mile 
5.89 
AVERAG E RETURN per 
46 
-1% 
Revenue Passenger Mile 
5.56 
29.3% 
% OF 
REVENUE 
22.6% 
COACH 
(Full Fare only} 
FIRST CLASS 
(Full Fare only) 
24.3% 
17.3% 
' - - - - - - - - - - - - PERCENTAGES OF REVENUE PASS ENGER MILES- - - - - - - - - - ~ 
% OF 
REVENUE 
PASSENGER FARES 
Revenue per pa senger mile dipped to its 
lowe t level since 1958 and was 12 be- 
low i s 1961 jet age peak. This is con- 
tinuing evidence that increased utilization 
of Coach facilities and a variety of fare 
reductions are offering substantial savings 
to the traveling public. The yield per 
revenue passenger mile for the year was 
5.83 , down 4 from the 6.07  per mile 
yield in fiscal 1965. 
As reported previously, during the latter 
days of fiscal 1965 Family Plan fares were 
reduced and the availability of the Plan 
was expanded. In February, 1966 ((stand- 
by" Youth Fares were inaugurated and 
the ((See America" excursion fare was in- 
stituted in March. In May the Youth Fare 
was amended by Delta to offer a con- 
firmed reservation at a 33-1/ 3 % reduction 
instead of the 50 o/c reduction formerly 
offered on a standby basis. 
All of these fares were designed as an in- 
centive to induce the non-business segment 
of the population to expend a larger pro- 
portion of its discretionary income on air 
travel. It was anticipated that the full im- 
pact of the several promotional fares upon 
experienced yields would be realized during 
the usual vacation periods of the first 
quarter of the new fiscal year, but the labor 
dispute which idled five trunklines for 
most of July and August limited pleasure 
travel and to some extent temporarily 
stabilized revenue passenger mile yields. 
The Military Discount Plan, whereby 
personnel in uniform and traveling on 
leave are carried as standby passengers at 
a 50 o discount, also contributed signifi- 
cantly to total revenues. During fiscal 
1966, more than 645,000 military passen- 
gers were carried on this Plan with revenues 
of $14,052,000, an increase of 41 % over the 
previous year. The adequacy of the Plan is 
illustrated by the fact that more than 91 % 
of the military standby passengers were 
accommodated on their first desired flight. 
 Expansion will increase the area of Delta's Jet maintenance base by 90%. Central blue section completed. 
FLIGHT EQUIPMENT 
No fiscal year in the last decade produced 
a more diversified flight equipment expan- 
sion than did the year just ended: 
1) The Douglas DC-9 Fanjet was in- 
troduced to commercial service by Delta. 
Eight of these twin-jets were in operation 
at year end, and an additional six are 
scheduled for early delivery. An additional 
28 DC-9s will be delivered in 1967-69 in 
the "stretched" 89-seat version, and an 
option has been taken on 12 more ''stretch- 
ed" DC-9 aircraft. Assuming that this op- 
tion will be exercised, by 1969 the DC-9 
fleet will consist of 54 airplanes; 
2) Five DC-8-61s, the 195-passenger 
"stretched" version of the Douglas DC-8, 
have been ordered, and an option for seven 
more of these aircraft has been negotiated. 
3) In late June, 1966, Delta became the 
first domestic carrier to order the all-cargo 
Lockheed L-100. This is the newest and 
most advanced version of the famed 
Lockheed Hercules family which has earned 
worldwide recognition for its cargo-carry- 
ing capability; 
4) Four standard DC-8 Fanjets were 
added to the fleet during the year and de- 
livery of a fifth was made just after the 
opening of the new fiscal year. These de- 
liveries increased to 21 the number of 
standard four-engine Douglas DC-8 jets 
now in operation. 
The eight DC-9s, 16 Convair 880s, and 
21 DC-8s gave Delta a jet fleet of 45 air- 
craft early in the new fiscal year. This total 
will be increased by 14 DC-9s and 3 
"stretched" DC-8s during fiscal 1967. 
Service with the Lockheed L-100 all- 
cargo aircraft, with usable cargo space for 
45,000 pounds either on pallets or in con- 
tainers up to 8 by 8 by 40 feet in size, will 
begin in mid-September. All three aircraft 
will be in operation by November, serving 
11 cities on a coast-to-coast and midwest 
to Florida network. 
Delta continues to monitor the super- 
sonic transport competition, and repre- 
sentatives of your Company's Engineering 
Department are serving on industry com- 
mittees for the development of supersonic 
transport systems. 
N ew Atlanta training center for stewardesses, pilots and technicians. 
9 
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methods of determining mail pay are 
proper. Hearings have been held and the 
matter now stands submitted to the CAB 
Examiner. 
Transpacific Route I nuestigation: The 
CAB has instituted this investigation to 
examine the pattern of operations by 
United States carriers in foreign and over- 
seas air transportation in the Pacific. In- 
cluded within the proceeding are proposals 
involving air service between the United 
States mainland, on the one hand, and 
Hawaii and other areas of the Pacific on 
the other hand. Delta applications con- 
solidated in the proceeding include re- 
quested operating authority between the 
co-terminal points of San Francisco/ Oak- 
land, Los Angeles/ Long Beach, San Diego, 
Dallas, Houston, New Orleans, Atlanta 
and Miami, and the terminal point Manila, 
via Honolulu, Tokyo, Osaka, Seoul and 
Hong Kong. Formal hearings are scheduled 
to begin in January, 1967, and final de- 
cision will be at least two years away. 
D elta's new H ercules freighters are designed to accommodate rail-highway-marine cargo containers. Other Matters: During the period covered 
by this report, Delta also has participated 
in numerous local service proceedings, pri- 
marily for the purpose of protecting its 
traffic from erosion through the granting of 
uneconomic operating authority to local 
service carriers. 
Pacific Route extension 
would add 8,288 miles 
to the Delta system. 
,,,. ... 
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HONG KONG 
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REGULATORY MATTERS 
United States-Caribbean-South America In- 
vestigation: This extremely complex in- 
vestigation involves air service needs be- 
tween the United States, the Caribbean 
and South America. Delta's participation 
is directed toward the improvement of its 
Caribbean route authority by closing the 
so-called ((Miami-Havana gap" and by 
adding Nassau, thus permitting direct one- 
carrier services between the vast traffic 
potentials of the Southeast, the Midwest 
and Caribbean points via the Miami gate- 
way. Delta is also seeking authority to 
operate non-stop services between West 
Coast points and the Caribbean area at 
~-such time as developing traffic potentials 
make such operations economical. Deci- 
sion is anticipated during 1967. 
Pacific Northwest-Southwest Service In- 
vestigation : This proceeding, involving the 
need for single-carrier service between the 
Pacific Northwest and the Southwest areas 
of the country, has been processed through 
most of its procedural steps. The Examin- 
er's recommended decision, which failed 
to recommend the routings sought by 
Delta, is being protested. A final decision 
is not anticipated before the end of 1966. 
New York-Florida Renewal Case: This 
case is a complete retrial of an earlier CAB 
decision that the temporary authority of 
the third carrier between the Northeast 
and Florida should not be renewed and 
that no third carrier should be certificated 
along the eastern seaboard. Delta has ap- 
plied for direct service between Boston and 
New York, in the Northeast, and T ampa 
and Miami in Florida, via various routings 
and intermediate points, including the elim- 
ination of the route restriction which 
presently prohibits Delta's operation of 
through-plane service between the North- 
east and Florida via Atlanta. The Bureau 
of Operating Rights has recommended that 
the route restriction be removed, but the 
Examiner's recommended decision has not 
been issued as of this time. 
Domestic Service Mail Rate I nuestigation: 
This proceeding will establish a new ((ser- 
vice" (non-subsidy) mail rate to be paid to 
~------Y 
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all domestic carriers by the 
Post Office Department on 
and after January 1, 1967. -- 
The major point at issue is 
whether the CAB should 
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---.D:--J;t------------------ 
HONOLULuo 
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continue to use traditional 
ton-mile cost relationships as 
HAWAIIAN ISLANDS 
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a basis for establishing the rate to be paid 
or a newly devised Post Office Department 
proposal relating to ((capacity costs." It 
is Delta's position that the traditional 
SEATTLE TACOMA 
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PORTLAND 
' ' ' ROUTES .OF DELTA AIR LINES 
', 
' ' ' ' ' ' ' ' ' ' 
SALT LAKE CITY 
LEGEND 
- - Present routes 
      Interchange service 
- - - Routes applied for 
- - - - - - - - - - - DENVER 
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* Service temporarily suspended 
TO CARACAS 
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DELTA AIR LINES, INC. BALANCE SHEETS JUNE 30, 1966 AND 1965 
ASSETS 
URRE T ASSETS: 
ah ................................... . ............ . 
Short-term ca h investment at cost .................... . 
ccount receivable ................................... . 
Maintenance and operating supplies, at average cost ... . 
Prepaid expen es, etc. . . . . . . . . . ....................... . 
Total current assets ... . ........... . ..... . 
PROPERTY AND EQUIPMENT: 
Cost- 
1966 ................... . 
1965 ... .......... .. .... . 
Reserves for depreciation- 
1966 . .... . ............. . 
1965 . ............... . .. . 
Other 
Flight Property and 
Equipment Equipment 
$317,109,000 
261,107,000 
140,469,000 
122,741,000 
$44,042,000 
37,778,000 
16,506,000 
13,047,000 
Advance payments for new flight equipment ............ . 
1966 
$ 23,072,000 
37,341,000 
23,154,000 
2,556,000 
1,527,000 
87,650,000 
361,151,000 
156,975,000 
204,176,000 
22,524,000 
226,700,000 
$314,350,000 
1965 
$ 6,935,000 
25,123,000 
18,848,000 
2,753,000 
1,751,000 
55,410,000 
298,885,000 
135,788,000 
163,097,000 
12,767,000 
175,864,000 
$231,274,000 
 LIABILITIES AND STOCKHOLDER EQUITY 
CURRENT LIABILITIES: 
Current maturities of long-term debt . 
Accounts payable and accrued liabilities ..... 
Tickets outstanding subject to refund or use . 
Air travel plan deposits ... .... . ......... . 
Accrued income taxes . . . . . . . . . . . . . . 
Total current liabilities .......... . 
LONG-TERM DEBT (Note 1) ........ . 
DEFERRED CREDITS: 
Deferred Federal income taxes . . ......... .. . .. . .. ... . 
Unamortized investment credit (Note 3) .. ... . . . 
STOCKHOLDER EQUITY: 
Common stock, par value $3.00 per share- 
Authorized 8,000,000 shares 
Outstanding 6,375,000 shares in 1966 and 
3,187,500 shares in 1965 . .... .... . ...... . ... . . 
Capital surplus . ............... .. . . .. . .......... . ..... . 
Retained earnings (of which $31,349,000 is restricted as 
to the payment of cash dividends under terms of 
credit agreements) . .. . . ...... . ........ . ....... . .. . 
PURCHASE COMMITMENTS (Note 2) 
The accompanying notes are an integral part of these balance sheets. 
$ 
1966 
1,891,000 
26,413,000 
5,108,000 
1,683,000 
12,685,000 
47,780,000 
88,352,000 
44,891,000 
9,652,000 
54,543,000 
19,125,000 
22,450,000 
82,100,000 
123,675,000 
$314,350,000 
$ 
1965 
4,135,000 
19,532,000 
3,509,000 
1,646,000 
8,275,000 
37,097,000 
51,449,000 
40,725,000 
6,826,000 
47,551,000 
9,562,000 
22,450,000 
63,165,000 
95,177,000 
$231,274,000 
13 
 DEL TA AIR LINES, INC. 
STATEMENTS OF INCOME FOR THE YEARS ENDED JUNE 30, 1966 AND 1965 
14 
OPERATING REVENUES: 
Passenger .......................... ..... .... ..... ... . 
Cargo .... . .............................. ..... . ...... . 
Other ........................................... . ... . 
Total operating revenues .......... ........... . . ..... . 
OPERATING EXPENSES: 
Flying operations . . ....... . .......... ................ . . 
Maintenance ....................................... .. . 
Aircraft and traffic servicing . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
Promotion and sales . . .................... ... .. .. .. .. . . 
Depreciation ... ... ..................... ..... .. . ...... . 
Passenger service . ......... . ...... . ....... . ... . . . ..... . 
General and administrative .. .. ..... .. ... ... ..... . .. .. . . 
Total operating expenses ...... . .. . ...... ..... . . .. .. . . 
Income from operations before income taxes ........... . 
OTHER EXPENSE (INCOME): 
Interest expense (less capitalized interest on advances for 
flight equipment-$1,288,000 in 1966 and $542,000 
in 1965) ............... .. . ...... .. . ............. .. . . 
Other-net .............. . ......................... .. . 
Total other expense ................................. . 
INCOME BEFORE INCOME TAXES . ..... .. ........... . 
PROVISION FOR INCOME TAXES .... .. ... .. . .. ...... . 
NET INCOME, before gain on sale of aircraft . .. ... . .. . . .. . 
GAIN ON SALE OF AIRCRAFT, less taxes . .. .. ......... . 
NET INCOME . ...... ... ............ .. .. .. . .. ....... . . . 
The accompanying notes are an integral part of these statements. 
1966 
$291,350,000 
24,039,000 
3,541,000 
318,930,000 
67,093,000 
53,626,000 
43,563,000 
30,286,000 
26,280,000 
24,569,000 
7,675,000 
253,092,000 
65,838,000 
2,435,000 
(759,000) 
1,676,000 
64,162,000 
30,170,000 
33,992,000 
562,000 
$ 34,554,000 
1965 
$234,036,000 
19,620,000 
3,804,000 
257,460,000 
55,631,000 
47,315,000 
35,722,000 
26,949,000 
22,182,000 
19,010,000 
6,322,000 
213,131,000 
44,329,000 
2,411,000 
(536,000) 
1,875,000 
42,454,000 
20,051,000 
22,403,000 
602,000 
$ 23,005,000 
 STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDED JUNE 30, 1966 
BALANCE JUNE 30, 1965 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 63,165,000 
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,554,000 
97,719,000 
Deduct: 
Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,056,000 
Transfer to common stock in connection with a 2-for-1 stock split on 
December 13, 1965 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,563,000 
BALANCE JUNE 30, 1966. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 82,100,000 
STATEMENTS OF SOURCE AND DISPOSITION OF FUNDS 
FOR THE YEARS ENDED JUNE 30, 1966 AND 1965 
1966 1965 
FUNDS PROVIDED BY: 
Net income . . . . .. . .... .. . . . . .. . . . . .. . .. . ... .. .. . . . ... . $ 34,554,000 $ 23,005,000 
Add non-cash expenses: 
Depreciation .. . ....... . ...... .. . . .... .. . . .. .... . . .. . 26,280,000 22,182,000 
Deferred Federal income taxes . . . . ......... ..... .. . . . . 4,166,000 3,601,000 
Investment credit-net ........ . .... .. .. . . ... . .. . . . . . 2,826,000 2,815,000 
Other . . . ... . . . ... ........ . . . ... . . .. . . ..... .. .... . . . 1,108,000 909,000 
Total from operations . ... . . .. ....... . . ..... . .. .. . . 68,934,000 52,512,000 
Financing under- 
Installment purchase agreement ....... . . ... . . . ... .... . 1,269,000 10,842,000 
Bank credit agreement .... . .. ... . .. ...... . . . .. . ..... . 45,000,000 
115,203,000 63,354,000 
FUNDS USED FOR: 
Flight equipment additions, including advances .. . . . .. ... . 71,677,000 29,206,000 
Deltamatic Reservations System . .... .. ... ...... . . .... . . 1,404,000 12,014,000 
Other property and equipment additions .... . .... .. . . . .. . 5,143,000 2,281,000 
78,224,000 43,501,000 
Reduction of long-term debt . ... ... . . .. .. . . .. . . . . . . . . .. . 9,366,000 7,073,000 
Cash dividends .... . . ....... .... . .. . .. .. . . . .... . . . . . .. . 6,056,000 4,845,000 
93,646,000 55,419,000 
INCREASE IN WORKING CAPITAL .... . ... .. .... . . . . . . $ 21,557,000 $ 7,935,000 
WORKING CAPITAL AT END OF YEAR . ... .. .. . . . ... . $ 39,870,000 $ 18,313,000 
The accompanying notes are an integral part of these statements. 
DEL TA AIR LINES, INC. 
15 
 DEL TA AIR LINES, INC. 
16 
NOTES TO FINANCIAL STATEMENTS JUNE 30, 1966 
1. LONG-TERM DEBT: 
The Company's long-term debt of $90.2 million (in- 
cluding current maturities) consists of the following: 
(a) $45 million due banks under a revolving credit 
agreement terminating during 1970 ($6.3 million 
of which was used in June 1966 to prepay notes 
due banks under a previous loan agreement). 
Interest on outstanding borrowings during the 
revolving credit period is at the prime rate 
through June 30, 1967,and % above the prime 
rate thereafter, 
(b) $35 million due insurance companies under 6 % 
unsecured notes repayable on a semiannual 
basis during the period 1968-1974, and 
(c) $10.2 million due the manufacturer of the Delta- 
matic Reservations System repayable in quar- 
terly installments (including 4 % interest) of 
$576,000. 
AUDITORS' REPORT 
2. FLIGHT EQUIPMENT 
PURCHASE COMMITMENTS: 
The Company has outstanding purchase commit- 
ments for the acquisition of six Douglas DC-8 Fanjet 
aircraft, thirty-four Douglas DC-9 Twin-jet aircraft 
and three Lockheed L-100 airfreighters which will 
require the expenditure of approximately $165 
million subsequent to June 30, 1966. 
3. INVESTMENT CREDIT: 
The investment credit, all of which has been utilized 
to reduce the Company's Federal income taxes 
payable, is being amortized to income over the life 
of the related properties. 
ARTHUR ANDERSE & Co. 
A TLANTA, GE OR G I A 
To the Stockholders and Board of Directors, 
Delta Air Lines, Inc. : 
We have examined the balance sheet of Delta Air Lines, Inc. (a Louisiana corporation) as of June 30, 
1966, and the related statements of income, retained earnings and source and disposition of funds for the 
year then ended. Our examination was made in accordance with generally accepted auditing standards, 
and accordingly included such tests of the accounting records and such other auditing procedures as we 
considered necessary in the circumstances. We have previously examined and reported on the financial 
statements for the preceding year. 
In our opinion, the financial statements referred to above present fairly the financial position of Delta 
Air Lines, Inc. as of June 30. 1966, and the results of its operations and the source and disposition of funds 
for the year then ended, in conformity with generally accepted accounting principles applied on a basis 
consistent with that of the preceding year. 
Atlanta, Georgia, 
August 10, 1966. 
.. , 
 DELTA'S STORY 
TO THE PUBLIC 
Oclta senicc "ill put 
a smile on anitody ... 
~ 
'.~~ 
',~ 
~'.".?S1.'~~o.dJ,)".., __ ,., 
,1u1 p,,,,.1 .. , "''''" ,m~ ...,,1 ,,.. O.lt 
During the past year Delta's advertising 
helped win leadership on the highly compet- 
itive Midwest-Florida route for the seventh 
consecutive season, and contributed to gains 
on all route segments. Also outstanding was 
the campaign to launch the Early Bird ser- 
vice in Atlanta. Travel habits were changed 
almost overnight as the public recognized 
the many advantages of the new service and 
Delta's dominance of the Atlanta market 
was substantially increased. 
Wmter after winter after winter 
most people 
jetDelta 
to Florida! 
Catch the Big One ... catch a Delta Jet! 
n.t1121N1rurround1wn-q,IHhedFlondl11,asp1dcd1ththnllsu 
1hcc:almduofc,ml)uh(lrcfornonfi1hll'llllitfcAndl)du, 
rn,;,l a1t1llsodth&hllilll)na.1"1lhmort 811Jcuthiln1ny01ht1111 
bnc MtnllilOOcUcGournw:ttp1Lt1cand1hou1l11ful,pcnonal 
mot lllal CUll<t'I on )"OIi Fam,ly P1111 ia>inp C~f) cby of the v.ul 
All~cnd.1IQIJ1ll<Nlorcdfor11UWlll,:,C,,..1'\IOIUHuu 
DELTA\IATIC.c:aUf16-S)00011yowTmdApl 
\Vmtcr after winter after winter 
most people 
jetDelta 
to Florida! 
Mi )our golf' f1sh111g" \\ a.1c1 ~poru" Yearn for somcwum sunshmc? 
rhcn doas most M1d11, cs1cmcrs h11c doncc,cry 11,m1cr \.Ince the 
fir1LJCl Takc181gDch.aJcttol1ond1 Dcltahilllhcmoun1ghlS 
mpcal",t.ason ;1llb1g4-engmc~li supcrbGourmctmcmn 
a.nd1hatucraor,.hnaf)'facullyfora,mg11Cnumcpcnonal 
scr1~ II> Dclt.f\f~m1lyPbnand~c Wca~ptallmaJor 
aahl c;mls Fo, mmn, fntl'VillllOAS thru DELTAMi\TIC 
e2illFl 6-5JOO,orsce)OUfTr.llCIAcc:n1 
Quickest way 
to answer 
a distant 
call to arms ... 
Jet there 
on Delta! 
M,h _ _,_ .. _ _ _ _ 
.., _ _ Doflo, _ _ , _ , _ 
- ..... JO'l, ..... ~~ 
..... 111< .......... 
-ni..- 
> _ _._._Joo~~s.-,r- 
_,_,.ut __ '!! 
DELTA 
faery morning from 8:1 
5 to 9:1 
5 
we read our fan mail. .. 
lo ., r" ,.,... ,,, 1u11"~>)., ,11 
""l p l,fl-<l1 ,i.;1,,--.,., l\cl\l~  !.; 
11<11"-''"'"'''"""'u e" 
... , __ ,,."' r, 
The whole 
town's talking 
about Delta's 
"Early Birds" 
17 
 DELTA AIR LINES, INC. 
10 YEARS OF GROWTH YEARS ENDED JUNE 30 
Dollars expressed in thousands except per share figures 
Operating revenues 
Passenger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
Mail . . . . .. .. . ..... ... . .. .... . . . . . . . . . . . ......... ..... 
Freight .. . ..... .. . . . . . . . . ... . . ...... .. ..... . ... ' 
. . .. . . 
Express . .... . .. . .. .. ...... ... ..... .. . . ...... . ........ 
All other . ... . .... .. . . .................. . ...... . . .. . . . 
Total operating revenues . .. . .. ...... . . ... ..... . .. . ..... . .. . 
Opera ting expenses . . . . . . . . . . . . . . . . . . ....... . .......... . .. . 
Operating income .. . ...... . ... . . ..... . ' 
. . . . .. ' . ' 
.... . ...... 
Non-operating expense-net . . .... ... ....... .. . . ... . .. . . . ... 
Net income before taxes . . ............... . .. . .... . .. . . .. .... 
Taxes on income . . ..... . ....... . .. . .. ... ..... .. . . ........ . 
Net income before gain on sale of aircraft .. . . .. .. . . . . . . .. .... 
Gain on sale of aircraft, less taxes . . .. . ... . .. . ... . ... . ... . ... 
Net income and gain on sale of aircraft . . . . . . . . . . . . . . . . . . . . . . . 
Per share of stock outstanding at year end* ....... . .. . . .. . 
Dividends paid . . . . ... . . ......... ... . ...... . . . ..... . .. .. ... 
Dividends paid per share* .... .. . ....... ... .... ' 
... . .... 
Total assets . . . . . . . . . . . . . . .. .... . . .. . . .. . . . ....... ' 
. .. . . .. ' 
Stockholder equity ...... . ..... . .. .. . . ... . . ...... . .. . ...... 
Stockholder equity per share* . . .. ' 
........ . . . .. . . ' 
..... . .. 
Shares of common stock outstanding at year end* ..... . ..... . . 
Revenue passengers carried . . . . . . . . . . .... . . . ........ ' 
... . ... 
Revenue plane miles (000) .... . ... . . ......... . ...... .. ..... 
Available seat miles (000) ..... . . .. ....... . ......... .. ..... . 
Revenue passenger miles (000) . . .. . .. .......... ..... . .. ..... 
Passenger load factor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
Available ton miles (000) .. . ..... .. .... . ... .. ... . . . . . . 
. ' 
. .. . 
Revenue ton miles (000) . . .. ....... . . .. .. . . . ' 
.. .. . . . ' 
.... 
Passenger revenue per passenger mile . ...... . ... ' 
. . .... . . ' 
Operating expenses per available seat mile ...... .... . . ... . .... 
Operating expenses per available ton mile .. . . ... . . ... .. ...... 
*Adjusted to reflect a ll stock splits. 
18 
36 
32 
28 
24 
20 
16 
12 
1966 
$291,350 
6,926 
13,902 
3,211 
3,541 
$318,930 
253,092 
$ 65,838 
1,676 
$ 64,162 
30,170 
$ 33,992 
562 
$ 34,554 
$5.42 
$ 6,056 
$0.95 
$314,350 
$123,675 
$19.40 
6,375,000 
7,556,422 
84,835 
8,196,349 
4,997,958 
60.98% 
1,090,282 
569,625 
5.83 
3.06 
23.21 
TOTAL EARNINGS ( In Million s of Dolla r s) 
~ 
I 
I 
I 
I 
, 
' 
I 
I 
~" 
,,,, 
~ 
,, 
I 
1/ 
~ ~ 1...,,11"""' 
......... 
,, 
1965 1964 
$234,036 $205,346 
5,176 4,299 
11,616 8,869 
2,828 2,396 
3,804 3,762 
$257,460 $224,672 
213,131 189,871 
$ 44,329 $ 34,801 
1,875 2,584 
$ 42,454 $ 32,217 
20,051 16,523 
$ 22,403 $ 15,694 
602 
$ 23,005 $ 15,694 
$3.61 $2.46 
$ 4,845 $ 3,570 
$0.76 $0.56 
$231,274 $194,241 
$ 95,177 $ 77,017 
$14.93 $12.08 
6,375,000 6,375,000 
5,964,269 5,233,548 
73,664 65,815 
6,793,654 5,582,349 
3,855,012 3,353,842 
56.74% 60.08% 
907,014 740,852 
442,239 378,465 
6.07 6.12 
3.12 3.38 
23.50 25.63 
0 
REVENUE PASSENGERS CARRIED 
(In M ilhons) 
~" 
I/ 
/ 
__ ,, 
-i..,,--- 
--i..--' 
,I 
I 
II 
_,, 
57 58 59 60 61 62 63 64 65 66 
1963 1962 
$191,355 $155,994 
4,483 3,414 
8,305 5,814 
2,280 1,669 
3,650 2,886 
$210,073 $169,777 
177,622 154,671 
$ 32,451 $ 15,106 
3,155 2,862 
$ 29,296 $ 12,244 
15,472 6,579 
$ 13,824 $ 5,665 
1,320 
$ 13,824 $ 6,985 
$2.17 $1.10 
$ 2,550 $ 1,520 
$0.40 $0.26 
$181,433 $158,088 
$ 64,893 $ 53,619 
$10.18 $8.41 
6,375,000 6,375,000 
4,606,367 3,768,707 
61,242 55,713 
4,953,787 4,123,318 
3,004,157 2,393,991 
60.64% 58.06% 
648,185 542,232 
342,661 269,044 
6.37 6.52 
3.56 3.74 
27.40 28.52 
40 
35 
30 
25 
20 
15 
OPERATING EXPENSES 
PER AVAILABLE TON MILE (In Ce nts) 
-- ......... 
--- i""""oi,,,, 
.......... 
"- - 
5.4 
4.8 
4.2 
3.6 
3.0 
2.4 
1.8 
1.2 
.6 
0 
REVENUE PASSENGER MILES (In Billions) 
J 
I 
II 
~ 
I/' 
.JI' 
TOTAL- .J 
., 
~ 
~Ill"' 
i.....,,.-- JET 
i..---- 
~-- 
~,.._ .... 
PI STON - 
57 58 59 60 61 62 63 64 65 66 57 58 59 60 61 62 63 64 65 66 
1961 1960 1959 1958 1957 
$134,946 $109,672 $ 94,062 $ 80,217 $ 71,873 
2,579 2,140 2,152 1,796 1,636 
4,070 4,250 3,879 2,955 2,231 
1,408 1,362 1,206 953 1,016 
3,129 2,767 2,506 2,252 1,840 
$146,132 $120,191 $103,805 $ 88,173 $ 78,596 
134,431 113,460 94,420 85,631 72,511 
$ 11,701 $ 6,731 $ 9,385 $ 2,542 $ 6,085 
2,733 1,313 554 600 556 
$ 8,968 $ 5,418 $ 8,831 $ 1,942 $ 5,529 
4,842 2,735 4,769 1,010 2,990 
$ 4,126 $ 2,683 $ 4,062 $ 932 $ 2,539 
526 156 131 83 
$ 4,652 $ 2,839 $ 4,062 $ 1,063 $ 2,622 
$0.83 $0.51 $0.73 $0.19 $0.47 
$ 1,346 $ 1,346 $ 673 $ 1,010 $ 1,346 
$0.24 $0.24 $0.12 $0.18 $0.24 
$134,938 $121,890 $ 95,427 $ 80,941 $ 66,931 
$ 41,056 $ 38,902 $ 37,410 $ 34,020 $ 33,966 
$7.32 $6.93 $6.67 $6.07 $6.05 
5,611,172 5,611,168 5,611,108 5,610,226 5,609,720 
3,569,778 3,241,511 2,988,241 2,728,220 2,572,982 
49,455 49,405 46,022 44,972 41,671 
3,389,547 3,027,450 2,622,740 2,479,428 2,206,408 
2,034,047 1,757,208 1,554,630 1,408,857 1,299,482 
60.01% 58.04% 59.28% 56.82% 58.90% 
442,251 387,552 324,018 301,105 260,431 
223,592 195,373 174,936 156,332 141,861 
6.63 6.24 6.05 5.69 5.53 
3.95 3.74 3.58 3.43 3.28 
30.40 29.28 29.14 28.44 27.84 
19 
 DELTA TICKET OFFICES 
City Ticket Offices Reservation Telephone LOS ANGELES 529 W. Sixth Street ..... . ... . ..... . . MAdison 0-1050 
ALEXANDRIA Airport ................. . ....... .. .. . .. .. 442-9555 
ASHEVILLE Lobby, Battery Park Hotel. ....... .. . .. ALpine 2-7601 
12 Battery Park Avenue 
BEVERLY HILLS Beverly Hilton Hotel ......... . CRestview 3-1813 
HOLLYWOOD Hollywood Roosevelt Hotel ....... . MAdison 0-1050 
LONG BEACH Jurgens Trust Building . .......... NEwmark 9-4000 
ATLANTA F~ton ational Bank Bldg. ; Dinkler and 
i 521-3000 
Biltmore Hotels; Merchandis Mart Bldg. J       
ONTARIO Ontario International Airport ... .... ........ ZE 2-7803 
ORANGE 120 Town & Country Drive ... .. . . ........... 534-8468 
AUGUSTA Augusta Town House ......................... 798-7000 PASADENA 700 E. Colorado Blvd ..... . . . ... .. .. SY camore 5-0449 
AUSTRALIA / NEW ZEALAND Bligh House SEPULVEDA 8527 Sepulveda Blvd. ..... . .... . .. ST 2-7551 
46 Bligh treet, 
ydney, Australia .. . ... . ....... 25-6585 
BALTIMORE Lord Baltimore Hotel . . . . . . . . . . . . . . . Outhfield 6-2100 
BATON ROUGE Lobby, Capitol House Hotel .......... ELgin 6-4333 
BEAUMONT Airport . . . . . . . . . . . . . . . . . . . . . . . .... RAndolph 2-34 71 
BIRMINGHAM 2002 Fifth Ave., North . . .. . ... . .. .. .. .. .. . 592-9601 
LOUISVILLE Shop 102, Starks Bldg .. . .. ...... . ........... 584-3142 
MACON Lobby, Hotel Dempsey .. . ... .. .... . ............ 788-3363 
MEMPHIS Peabody Hotel. . . . . . . . . . . . . . . . . . . . . . 398-9211 
MERIDIAN Airport . . . . . . . . . . . . . . . . . . . . . . . . .... .. .. 482-3141 
MIAMI Columbus Hotel; Ashe Bldg., U. of Miami .. FRanklin 3-0441 
MIAMI BEACH 1632 Collins Ave. and 230 71st St . .. . FRanklin 3-0441 
BRUNSWICK Airport . . ........ . ...... .. ... . .. .. .. .. .. .. 638-3631 
CARACAS, VENEZ. Edificio Roraima ....................... 339-349 
and Macuto- heraton Hotel. ............ 81-21-84 
CHARLESTON Lobby, Francis Marion Hotel. .............. 744-2567 
CHARLOTTE 201 S. Tryon t. (Cutter Building) ........... 372-3000 
CHATTANOOGA Lobby, Hotel Patten .................. ... 265-3631 
CHICAGO 67 East Monroe, Conrad Hilton Hotel } . 
and 1649 Orrington in Evanston   Financial 6-5300 
CINCINNATI heraton-Gibson and Netherl'd-Hilton Hotels . 241-1700 
CLEARWATER Tampa International Airport ... .. .. .. ...... 446-8318 
COLUMBIA Lobby, Wade Hampton Hotel. .... .. . ..... SWift 4-3000 
COLUMBUS, GA. Ralston Hotel . . .. .. .. ... . .. .. .. .. .. ... . 324-3531 
COLUMBUS, OHIO Lobby, Deshler Cole Hotel .. .... . .. .. .. 221-6881 
DALLAS 1415 Main St., ' FL d 7 5461 
tatler Hotel Lobby ;               eetwoo - 
DAYTON Sheraton-Dayton Hotel . . . . . . . . . . . ... 223-7141 
DETROIT 1205 Washington Blvd. and Lobby, I 
General Motors Bldg. 
J 
Cobo Hall (During Major .. . WOodward 5-3000 
Conventions) 
EVANSVILLE Lobby, McCurdy Hotel . . . . . . . . . . . . . 425-9023 
FORT LAUDERDALE 10 S.E. Sixth Avenue .... . .. JAckson 4-0331 
FORT WAYNE Lobby, Van Orman Hotel. .. . ..... .. 742-2201 
MILWAUKEE 718 N. Plankington Ave. . . ... . .. .... Division 2-4675 
MONROE Lobby, Frances Hotel . . . . . 387-1900 
MONT EGO BAY, JAMAICA Casa Montego Hotel. ..... 2811 
MONTGOMERY Lobby, Jefferson Davis Hotel . . . 263-6404 
NEW ORLEANS Sheraton-Charles and Roosevelt Hotels ..... 529-2431 
NEW YORK Rockefeller Center; Airlines Building; } 
100 Broadway; Lobby, Statler Hotel; 
East Side Terminal; West Side 
Terminal; 635 Madison Ave.; 200 PLaza 1-6600 
Livingston St., Brooklyn; 
35 Mamaroneck Ave., White Plains 
WESTCHESTER . . . . . . . . . . . . . .. .... White Plains 6-1626 
NASSAU AND SUFFOLK . . .... . .. .......... IVanhoe 1-6811 
NEWARK 3 Commerce Street . . Mitchell 2-2228 
ORLANDO 421 East Central Blvd. (Cherry Plaza Hotel). CHerry 1-4531 
CAPE KENNEDY 1275 North Atlantic Ave. . . 262-4520, 636-3144 
PADUCAH Airport . . . 443-1732 
PHILADELPHIA Bellevue Stratford Hotel . . . . SAratoga 7-9900 
PORT ARTHUR Airport .... . . RAndolph 2-3471 
SAN DIEGO U.S. Grant Hotel . . . . . . . . . . . . . . . . .... 239-2345 
SAN FRANCISCO Sheraton-Palace Hotel; } 
Downtown Airline Terminal . . . . 761-4000 
376 Post Street (Union Square) 
FORT WORTH Lobby, Hotel Texas . . . . . . . . . EDison 2-7871 OAKLAND 1922 Broadway . . . . . TEmple Bar 4-6680 
HOT SPRINGS Airport . . . . . . . . . . . . . . . . ... . .. . 623-1671 
HOUSTON Rice and Shamrock-Hilton Hotels ... . .... CApitol 5-1361 
INDIANAPOLIS Lobby, Claypool Hotel ............. MEirose 4-3200 
JACK.SON Heidelberg Hotel ....... .. .. ... .. . . .. . .. . .. . .. 939-5200 
JACKSONVILLE Hotel Robert Meyer . . ..... . ..... ELgin 3-3171 
KANSAS CITY Muehlebach Hotel . . . . . . . . . . . ..... GRand 1-7733 
SAN JUAN, PUERTO RICO 311 Recinto Sur . . .. . .. . ....... 791-0045 
SAVANNAH Manger Hotel. .... ADams 3-0267 
SHREVEPORT Captain Shreve Hotel . . . . . . . 425-3~32 
SPRINGFIELD Airport . . . . UNiversity 6-1951 
ST. LOUIS Lobby, St. Louis Gateway Hotel . . . MAin 1-7580 
ST. PETERSBURG Tampa International Airport . . . .... 896-7141 
KINGSTON, JAMAICA Lobby, Myrtle Bank Hotel . . .. 24816 
KNOXVILLE Farragut Hotel . . . . . . . . . . . . . . . . . 577-6611 
LAS VEGAS Sahara Hotel ............... .. ... . .... .. . . .. 382-0077 
TAMPA 500 Florida Ave. (Hillsboro Hotel). . 877-8111 
TOKYO, JAPAN Imperial Hotel, Room 158 . . ... . ........ 502-4166 
TOLEDO Commodore P erry Hotel Arcade . . . 244-8661 
LEXINGTON Airport . . . . . . . . . . . . . . 254-5569 
LITTLE ROCK Lobby, Coachman's Inn . . . . .... FRanklin 6-3141 
LONDON, ENGLAND 35 Piccadilly (European Sales Office) . REG 3791 
WASHINGTON, D.c. 1605 K Street, N.W. and l 296 7000 
Washington Hotel f     - 
WEST PALM BEACH Holiday Inn (100 Datura Street) . .... .. 832-6411 
20 
 BOARD OF DIRECTORS 
C. E. WOOLMAN, Chairman, Atlanta, Georgia 
R. W. FREEMAN, Chairman of the Finance Committee, 
New Orleans, Louisiana 
R. W. COURTS, Atlanta, Georgia 
C. H. DOLSON, Atlanta, Georgia 
EMERY FLINN, Miami, Florida 
EDWARD H. GERRY, New York, New York 
CHARLES H. KELLSTADT, Miami, Florida 
JOHN R. LONGMIRE, St. Louis, Missouri 
R. S. MAURER, Atlanta, Georgia 
T. M. MILLER, Atlanta, Georgia 
WINSHIP NUNNALLY, Atlanta, Georgia 
CARLETON PUTNAM, Washington, D. C. 
GEORGE M. SNELLINGS, JR., Monroe, Louisiana 
OFFICERS 
C. E. WOOLMAN 
Chairman of the Board and 
Chief Executive Officer 
C.H. DOLSON 
President 
T. M. MILLER 
Executive Vice President-Traffic and Sales 
W. T. BEEBE DAVID C. GARRETT, JR. 
Vice President-Personnel Vice President-Operations 
ROBERT OPPENLANDER PAUL W. PATE 
C. H. DOLSON, President 
ROBERT L. GRIFFITH 
Vice President 
Vice President-Finance and Treasurer Vice President-Properties 
R. S. MAURER 
Vice President- 
General Counsel and Secretary 
CHARLES P. KNECHT 
Assistant Vice President-Sales 
R. H. WHARTON C. B. WILDER 
CATHERINE FITZGERALD 
Assistant Treasurer 
Assistant Vice President-Personnel Assistant Vice President- 
Operations-Technical 
J. R. HOWELL HUGH H. SAXON 
Assistant Treasurer Assistant Treasurer 
TRANSFER AGENTS: The Citizens & Southern National Bank, Atlanta, Georgia 
and The First National City Bank, New York City 
REGISTRARS: Trust Company of Georgia, Atlanta, Georgia 
and Morgan Guaranty Trust Company of New York, New York City 
COMMON STOCK: Listed on the New York Stock Exchange 
AUDITORS: Arthur Andersen & Co. 
ANNUAL MEETING: October 27, 1966, Monroe, Louisiana 
 DELTA AIR LINES , INC ., GENERAL OFFICES, ATLANTA AIRPORT, ATLANTA, GEORGIA