Cash flow, shareholder returns and adjusted net debt

Delta generated $2.8 billion of adjusted operating cash flow and $1.9b of free cash flow during the quarter. The company used this strong cash generation to invest nearly $1 billion into the business for aircraft purchases and improvements, facilities upgrades and technology.

In the first half of 2017, Delta contributed $3.5 billion to its defined benefit pension plans, bringing its unfunded pension liability to $6.9b, down $3.7 billion versus year-end 2016.

Adjusted net debt at the end of the quarter was $8.4b, up $2.3b versus year-end 2016 as a result of Delta’s March quarter 2017 unsecured debt issuance.

For the June quarter, the company returned $748m to shareholders, comprised of $148m of dividends and $600m of share repurchases