Delta Air Lines reduced its adjusted net debt by $950 million from year-end 2025 to $13.4 billion at the end of the third quarter. The carrier generated $1.9 billion in year-to-date free cash flow and plans to pay down more than $2 billion of debt during 2026. Chief Financial Officer Erik Snell said the strength of cash flow generation allows consistent reinvestment while reinforcing the investment-grade balance sheet. Delta's gross leverage is on track to reach approximately 2.2 times by year-end, down from higher levels earlier in the year.
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