Like the transatlantic market to North America, which has rebounded very, very strongly since its reopening, Delta Air Lines' annual financial results for 2022 show a very strong recovery in business and a near return to post-crisis levels. 

Cash of $9.4 billion at the end of 2022

For the full year, the company achieved operating revenue of $45.6 billion, 2% of the level it had in 2019, prior to the Covid-19 pandemic-related airline crisis. Operating income was $3.7 billion, with an operating margin of 7.2% (compared to $6.6 billion for the full year 2019). Annual net income was just over $2 billion, compared to nearly $4.8 billion for all of 2019. At the end of the year, the U.S. company had $9.4 billion in cash, and adjusted net debt of $22.3 billion.

Fourth-quarter operating revenue higher than 2019

For the fourth quarter ended December 2022, Delta achieved $12.3 billion in operating revenue, higher than it did in the same period of 2019. Operating income was just over $1.4 billion, similar to the same period in 2019. For the fourth quarter, the U.S. company's net income was $950 million, compared to nearly $1.1 billion in the fourth quarter of 2019.