Delta Announces Planned Fleet Changes

Delta Air Lines today announced plans to limit the size of its Boeing
777-200 fleet. Delta said it intends to sell two Boeing 777-200 aircraft
scheduled for delivery to Delta in 2005. The company also intends either
to acquire other Boeing aircraft in lieu of three Boeing 777-200 aircraft
scheduled for delivery in 2006 or to sell these three Boeing 777-200
aircraft.Delta currently plans to continue to operate the eight Boeing 777-200
aircraft in its existing fleet and said it is pleased with the operational
performance of these aircraft.

Delta and Boeing have agreed to defer until the second half of 2005
delivery of two Boeing 777-200 aircraft originally scheduled for delivery
to Delta in the first half of 2005. Delta intends to sell these two Boeing
777- 200 aircraft and has entered into an agreement with an undisclosed
party to assist in the sale. Delta expects that such a sale, if
accomplished, would reduce its capital spending requirements by
approximately $300 million through 2005.

“Delta must continue to create a path to rebuild its balance sheet and
maintain effective cash flow management,” said M. Michele Burns, Delta’s
executive vice president and chief financial officer. “Reducing major
capital spending, such as purchasing aircraft, is an essential way to
contribute to this goal.”

Delta also intends either to acquire other Boeing aircraft in lieu of
three Boeing 777-200 aircraft scheduled for delivery to Delta in 2006 or
to sell these three Boeing 777-200 aircraft. The company has not yet
identified which aircraft type it would acquire in lieu of the Boeing
777-200s if that option is chosen.
——-