Delta Air Lines’ board of directors has approved a $1bn share repurchase program to be completed no later than June 30, 2028.
When combined with the current quarterly dividend, Delta plans to return over $2bn to shareholders over the next three years.
This plan aligns with the company’s capital allocation framework announced by the airline in November 2024, which includes a long-term gross leverage target of 1x and unencumbered assets exceeding $40bn.
The airline stated with an SEC filing that its board of directors is authorising opportunistic share repurchases to provide “flexibility during periods of market volatility” and is committed to steady dividend growth.
Delta also noted that its capital allocation priorities remain focused on reinvesting in the business, reducing financial risk through debt reduction, while increasing shareholder returns as leverage targets are met.