DAL: Material agreement · New financial obligation

Item 1.01 Entry into a Material Definitive Agreement. On June 11, 2026, Delta Air Lines, Inc. (“Delta,” “we,” “us” or “our”) entered into a credit agreement among Delta, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the “Credit Facility”). The Credit Facility refinances Delta’s existing credit agreement, dated as of November 6, 2023 (as amended from time to time, the “Existing Credit Facility”), and replaces the Existing Credit Facility in its entirety. The proceeds of the borrowings under the Credit Facility will be used in part to refinance the Existing Credit Facility and for general corporate purposes. The Credit Facility was undrawn at the time we entered into it. The Credit Facility contains a $2.650 billion revolving facility comprised of a $1.325 billion three-year tranche, a $1.325 billion five-year tranche and a separate standby letter of credit facility, which remains uncommitted. Up to $250 million of each of the three-year and the five-year tranches can also be used for the issuance of letters of credit. The Credit Facility contains an accordion feature under which the aggregate commitments can be increased up to $3.65 billion upon our request and subject to certain conditions. Borrowings under the three-year and five-year tranches bear interest at a variable rate equal to an adjusted term SOFR, or another index rate, in each case plus a specified margin. Undrawn letters of credit under the Credit Facility will accrue a fee at a rate per annum set forth in the Credit Facility. The Credit Facility contains affirmative, negative and financial covenants. These covenants include, among other things, (i) restrictions on our ability to place liens on, or to sell or otherwise dispose of, a designated pool of assets, and (ii) th