This is an exercise in predictive analytics. Estimation of the cost function and evaluation of the cost function is an important skill for MBAs. As often happens, you will get a cost function that includes both fixed and variable components, so you will need to identify and separate those components. You will practice using the High-Low method and simple regression in the case. One of the most common mistakes using the High-Low method is picking the wrong data points. For the 're - analyzing' case, we'll be using the spreadsheet called Exhibit 2 and 4 side by side. Let's find the data points to use for the Delta Low values. The case specifies that we will compare Revenue Passenger Miles and salary expense. Locate the appropriate columns on the spreadsheet: Revenue Passenger Miles in column AF and Salary and Related Costs in column G. Find the lowest value for Revenue Passenger Miles in column AF. It should be no surprise that it is the first time period, 93T1, with a value of 14. Now, for the SAME TIME PERIOD, locate the entry in column G. Your value for Salary and Related Costs in 93T1 is $1200. The Delta High values for your analysis are obtained in a similar method. Always use the same time period for both variables. A word about your regression analysis. Use ALL the data available for each airline. When you do this analysis, not to worry if your R-squared value is low; it doesn't give me the warm fuzzies either. A better value is obtained with a multiple regression, but that is not part of this assignment. And, just to clarify, when you are asked for a cost function, the response should be the equation itself, in this case Salaries=FC + (VC * Revenue Passenger Miles). On another topic in the discussion boards, refresh your memory about operating leverage from the text, not from Investopedia and the like. In this class we are concerned about cost structure.

First 2 images are For Exhibit 2 and then last 2 images are exhibit 4

can ppl stop commenting non accounting. The class is called managerial accounting! if you dont wanf fo help thencokay but stop commenting uneccesary stuff.

ALL INFORMATION IS HERE! THIS IS WHAT THE PROFESSOR GAVE US TO WORK OUT THE PROBLEM. IF YOU CANNOT ASSIST DONT COMMENT

View Image - EXHIBIT 2Delta AirlinesSelected Quarterly Financial Data, 1993-2002a Selected Quarterly Financial Data 1993 2002 Panel A: 1993-1998 Consolidated Statements of Income (in millions) Operating Revenues Operating Expenses Salaries & related costs Passenger Depreciation & Selling og lamortization expenses Passenger Contracted services Uw service Aircraft mainte- nance & Repairs Facilities and So other rent 698 Landing fees Restructuring Asset writedowns Stabilization Act Other Ew charge OPERATING INCOME (LOSS) Total operating expenses Hogy Other, net 2,709 2,897 2,942 2,742 168 177 129 206 298 326 311 315 114 2,691 187 311 366 383 383 372 331 325 362 357 321 330 381 322 298 285 290 348 278 1993 01 1993 Q2 1993 Q3 1993 Q4 1994 Q1 1994 Q2 1994 Q3 1994 Q4 1995 Q1 1995 Q2 1995 Q3 1995 04 1996 Q1 1996 Q2 1996 Q3 1996 Q4 1997 Q1 1997 Q2 1997 Q3 1997 Q4 1998 01 1998 Q2 1998 Q3 1998 Q4 2.941 2,933 2,688 2,685 3,013 2,977 2,731 2,774 3,134 3,170 2,925 3,160 3,250 3,260 3,133 3,118 3,669 3,487 3,135 247 138 154 134 139 129 135 126 131 124 145 142 143 143 160 138 141 139 150 49 57 67 69 65 74 86 77 83 64 82 78 64 94 138 127 118 148 150 141 133 (129) 176 163 $2,927 $3,132 $3,138 $3,017 $2,943 $3,261 $3,157 $2,919 $2,902 $3,216 $3,188 $2,944 $2,964 $3,359 $3,432 $3,197 $3,420 $3,541 $3,553 $3,434 $3,389 $3,681 $3,802 $3,448 1,200 1,205 1,161 1,145 1,145 1,138 1,138 1,074 1,102 1,040 1,037 1,051 1,077 1,041 1,092 1,107 1.118 1,127 1,204 1,206 1,179 1,261 1,237 1,217 246 241 277 278 237 250 355 365 396 416 466 444 397 409 409 342 347 339 351 184 186 190 187 182 173 172 172 171 156 140 139 138 138 137 137 136 137 137 137 137 141 145 146 195 160 166 139 172 170 170 (139) 164 150 155 165 147 172 156 131 161 145 159 150 156 159 158 140 166 179 174 149 180 172 190 177 198 164 211 170 218 172 233 94 218 196 233 179 127 131 140 131 127 133 137 118 92 96 104 91 87 86 105 94 92 98 111 105 107 127 133 124 (114) 116 122 155 163 172 163 187 182 199 182 179 191 172 169 212 141 183 193 122 104 105 98 102 113 111 112 109 98 109 102 88 77 108 103 106 117 124 126 126 119 143 138 89 63 83 87 67 (1) 92 69 94 61 112 98 64 97 67 414 102 73 110 60 110 65 114 68 113 69 109 56 82 59 556 75 64 273 99 64 92 62 99 63 52 96 67 169 153 99 58 (99) 269 179 164 410 $3,137 ($211) 458 $3,107 ($429) 146 $3,016 $122 509 $3,197 $180 482 $3,010 ($67) 826 $3,583 (S682) 156 $3,003 $154 158 $2,901 $18 133 $2,862 $40 125 $2,767 $449 126 $2,802 $386 154 $2,775 $169 156 $3,351 (5387) 157 $3,064 $295 151 $2,994 $438 167 $2,970 $227 183 $3,074 $346 174 $3,022 $519 168 $3,122 $431 181 $3,102 $332 174 $3,053 $336 203 $3,086 $595 225 $3,250 $552 175 $3,128 $320 (continued on next page) 251 266 235 229 250 252 208 Tanel D. 1994-2002 Operating Revenu View Image - EXHIBIT 2Delta AirlinesSelected Quarterly Financial Data, 1993-2002a o Passenger Other, net revenues au Aircraft fuel Passenger wa commissions Aircraft Rent NNNN Depreciation & WO amortization Cargo Selling expenses Contracted | Aircraft mainte- services Anance & Repairs Facilities and other rent Restructuring | Asset writedowns charge Stabilization Act Total operating expenses Ooo Landing fees OPERATING INCOME (LOSS) S Passenger Other Wow service 134 146 166 148 171 196 184 1999 Q1 3,203 134 167 $3,504 1,268 1999 Q 2 3,860 134 (151) $3,843 1,271 1999 Q3 3,593 140 96 $3,829 1,306 1999 Q4 3,293 153 261 $3,707 1,349 2000 Q1 3,589 141 230 $3,960 1,428 2000 Q2 4,401 145 (154) $4,392 1,514 2000 3 4,050 141 154 $4,345 1,514 2000 Q 4 3,617 156 271 $4,044 1,515 2001 Q1 3,598 140 104 $3,842 1,607 2001 Q2 3,537 131 108 $3,776 1,560 2001 Q3 3,190 116 92 $3,398 1,534 2001 Q4 2,639 119 105 $2,863 1,423 2002 Q1 2,878 111 114 $3,103 1,501 2002 Q2 3,217 109 148 $3,474 1,563 2002 Q3 3,165 112 143 $3,420 1,555 2002 Q4 3,061 126 121 $3,308 1,546 316 354 367 384 434 461 533 541 514 463 472 368 339 401 468 475 191 216 203 174 169 176 164 152 141 144 137 118 107 89 72 54 146 153 154 169 185 186 183 187 188 186 183 180 178 179 175 177 284 297 302 281 307 324 331 318 310 281 291 289 287 192 74 160 200 198 86 190 214 179 165 152 120 145 140 141 113 113 130 133 122 102 114 134 120 114 127 124 101 94 98 95 85 190 206 213 215 228 237 239 262 257 253 248 258 263 241 256 243 172 187 193 216 205 185 181 182 163 176 181 $3,148 $356 188 194 $3,201 $642 180 149 199 $3,493 $336 179 320 179 $3,723 ($16) 188 205 $3,605 $355 195 86 226 $3,779 $613 199 22 192 $3,835 $510 189 226 $3,885 $159 198 248 $3,957 ($115) 192 60 216 $3,890 ($114) 198 68 (171) 170 $3,649 ($251) 192 991 (463) 182 $3,985 ($1,122) 203 202 $3,538 ($435) 211 23 184 $3,601 ($127) 213 225 (34) 168 $3,805 ($385) 207 (40) 191 169 $3,670 ($362) a Data collected from Delta Airlines quarterly SEC filings (see als Delta Airlines website: http://www.delta.com + 1:1 View Image - EXHIBIT 4Delta AirlinesSelected Quarterly Statistical Data, 1993-2002a EXHIBIT4 Delta Airlines Selected Quarterly Statistical Data, 1993-2002 Other Statistical Data (in millions, unless otherwise stated) Revenue Ton Miles Operating Rev- enue per Avail- able Seat Mile 144 148 149 145 142 145 147 147 145 147 1993 Q1 24.6 3,196 1993 Q2 25.1 3,263 1993 Q3 25.5 3,318 1993 Q4 24.6 3,228 1994 Q1 23.8 3,132 1994 Q2 24.5 3,226 1994 Q3 24.9 3,283 1994 Q4 24.8 3,268 1995 Q1 24.5 3,217 1995 Q2 25.0 3,251 1995 Q3 25.2 3,276 1995 Q4 25.1 3,260 1996 Q1 25.3 3,291 1996 Q2 26.3 3,418 1996 Q3 26.8 3,486 1996 Q4 27.0 3,510 1997 Q1 27.0 3,509 1997 Q2 27.5 3,573 1997 Q3 28.0 3,652 1997 Q4 27.8 3,623 230.9 341.5 236.5 344.8 236.6 345.1 229.9 339.7 223.6 333.2 228.7 338.1 230.5 340.1 230.1 341.7 226.5 339.4 226,0 340.7 225.8 339.0 223.0 341.2 218.6 345.9 224.9 352.4 226.8 357.0 229.4 365.7 228.3 369.2 232.2 372.9 234.8 375.2 233.2 378.4 147 148 150 146 145 146 148 148 147 148 149 148 152 154 157 159 159 161 165 164 17.9 19.8 20.6 20.1 19.0 20.9 21.5 20.8 19.5 20.4 20.3 20.4 21.2 23.3 23.6 23.2 23.2 25.1 24.8 24.1 14.0 15.5 16.5 15.5 14.7 16.1 16.9 15.8 15.1 15.9 16.3 1,402 1,547 1,645 1,550 1,468 1,607 1,686 1,584 1,505 1,592 1,631 1,594 1,678 1,856 1,930 1,827 1,852 2,003 2,033 1,890 1,580 1,728 1,822 1,747 1,647 1,788 1,856 1,775 1,677 1,759 1,793 1,772 1,839 2,029 2,101 2,026 2,036 2,191 2.223 2,094 $118.97 $124.55 $123.00 $122.67 $123.43 $133.02 $126.60 $117.67 $118.32 $128.45 $126.26 $117.17 $117.03 $127.89 $128.06 $118.25 $126.57 $128.93 $126.88 $123.69 $127.54 $123.55 $118.22 $129.99 $126.25 $146.14 $120.43 $116.95 $116.69 $110.52 $110.97 $110.44 $132.31 $116.65 $111.72 $109.85 $113.76 $110.03 $111.49 $111.73 $0.98 $0.95 $0.91 $0.99 $0.96 $1.11 $0.91 $0.89 $0.89 $0.85 $0.86 $0.85 $1.02 $0.90 $0.86 $0.85 $0.88 $0.85 $0.85 $0.86 $193.23 $187.28 $178.83 $176.96 $183.28 $182.99 $173.98 $169.73 $178.36 $189.27 $182.49 $171.33 $165.35 $168.85 $164.22 $160.11 $170.65 $162.27 $160.37 $165.74 56.99 61.51 64.48 63.01 61.58 65.55 67.60 63.84 61.38 63.58 64.61 63.44 66.24 70.66 72.03 67.57 68.53 72.92 72.59 68.09 15.9 148 147 147 153 156 157 157 160 163 162 16.8 18.6 19.3 18.3 18.5 20.0 20.3 18.9 (continued on next page) View Image - EXHIBIT 4Delta AirlinesSelected Quarterly Statistical Data, 1993-2002a EXHIBIT 4 (continued) Operating Rev- enue per Avail- 5 Table Seat Mile Operating e Cost per Available Seat Mile Operating Cost per Avail- able Ton Mile Passenger Mile Yield a Passenger Load Factor (%) 1998 Q1 1998 Q2 1998 Q3 1998 Q4 1999 01 1999 Q2 1999 Q3 1999 Q4 2000 Q1 2000 Q2 2000 Q3 2000 Q4 2001 01 2001 2 2001 Q3 2001 Q4 2002 Q1 2002 Q2 2002 Q3 2002 Q4 27.1 3,537 27.3 3,568 27.8 3,627 27.9 3,650 27.4 3,587 28.1 3,698 28.5 3,773 28.5 3,846 28.1 3,902 28.5 3,952 28.8 4,029 28.1 3,922 27.3 3,841 28.0 3,936 27.1 3,819 24.7 3,507 24.5 3,501 25.3 3,622 25.6 3,674 24.5 3,524 227.8 372.3 230.5 373.2 229.5 376.0 229.4 380.8 224.7 377.7 228.9 383.5 228.5 381.4 229.0 387.4 224.5 384.8 225.8 386.4 225.6 387.3 223.6 387.5 219.6 381.7 225.5 387.8 214.7 373.2 196.1 338.3 196.9 341.6 202.5 348.1 202.5 346.8 177.0 322.2 158 160 163 164 161 165 167 167 165 167 170 166 162 161 162 167 166 166 168 170 170 171 171 173 175 169 172 174 148 148 152 153 141 23.3 25.8 24.2 24.0 23.7 25.7 25.2 24.1 23.6 26.4 25.2 23.2 22.0 24.4 21.9 18.9 19.8 21.6 21.7 21.0 18.4 20.6 19.8 19.1 19.2 20.8 20.9 19.4 19.1 21.8 21.7 19.2 18.2 20.1 19.0 15.9 1,844 2,056 1,975 1,914 1,917 2,083 2,093 1,938 1,914 2,179 2,166 1,922 1,821 2,012 1,899 1,588 1,674 1,829 1,877 1,760 2,030 2,241 2,156 2,106 2,096 2,258 2,267 2,139 2,099 2,369 2,344 2,116 1,988 2,177 2,044 1,709 1,808 1,975 2,008 1,906 $125.19 $134.84 $136.94 $123.39 $127.90 $136.71 $134.28 $130.16 $140.78 $154.22 $150.70 $144.05 $140.53 $134.68 $125.28 $116.13 $126.65 $137.32 $133.62 $135.19 $112.78 $113.05 $117.06 $111.94 $114.91 $113.87 $122.49 $130.72 $128.16 $132.69 $133.01 $138.39 $144.74 $138.74 $134.53 $161.64 $144.40 $142.34 $148.66 $149.98 $0.86 $0.86 $0.90 $0.86 $0.88 $0.87 $0.93 $0.97 $0.92 $0.96 $0.95 $0.99 $1.03 $0.99 $0.96 $1.14 $1.01 $0.99 $1.04 $1.04 $169.10 $178.47 $176.52 $163.76 $167.10 $185.30 $171.68 $169.91 $187.50 $201.97 $186.98 $188.15 $197.58 $175.78 $167.99 $166.17 $171.92 $175.87 $168.58 $173.96 68.11 75.31 71.15 68.51 69.97 74.11 73.39 68.05 68.05 76.51 75.13 68.48 66.61 71.77 70.01 64.42 68.33 72.31 73.35 71.91 167 163 147 16.7 146 150 152 140 18.3 18.8 17.6 Un * Data collected from Delta Airlines quarterly SC filirsee al elta Alinas webuits httpw.delt. Revenue passengers are the total number of aying Pants pa senga miles passengers. Available seat miles are the numbe of sea s mumslied by mb of mile: of aircraft seating capacity that is actually utilized (revenue passenger miles divided by available seat miles). the nun ber of miles flown by revenue ats are clown. Load factor is the percentage alab. pass View Image - EXHIBIT 2Delta AirlinesSelected Quarterly Financial Data, 1993-2002a Selected Quarterly Financial Data 1993 2002 Panel A: 1993-1998 Consolidated Statements of Income (in millions) Operating Revenues Operating Expenses Salaries & related costs Passenger Depreciation & Selling og lamortization expenses Passenger Contracted services Uw service Aircraft mainte- nance & Repairs Facilities and So other rent 698 Landing fees Restructuring Asset writedowns Stabilization Act Other Ew charge OPERATING INCOME (LOSS) Total operating expenses Hogy Other, net 2,709 2,897 2,942 2,742 168 177 129 206 298 326 311 315 114 2,691 187 311 366 383 383 372 331 325 362 357 321 330 381 322 298 285 290 348 278 1993 01 1993 Q2 1993 Q3 1993 Q4 1994 Q1 1994 Q2 1994 Q3 1994 Q4 1995 Q1 1995 Q2 1995 Q3 1995 04 1996 Q1 1996 Q2 1996 Q3 1996 Q4 1997 Q1 1997 Q2 1997 Q3 1997 Q4 1998 01 1998 Q2 1998 Q3 1998 Q4 2.941 2,933 2,688 2,685 3,013 2,977 2,731 2,774 3,134 3,170 2,925 3,160 3,250 3,260 3,133 3,118 3,669 3,487 3,135 247 138 154 134 139 129 135 126 131 124 145 142 143 143 160 138 141 139 150 49 57 67 69 65 74 86 77 83 64 82 78 64 94 138 127 118 148 150 141 133 (129) 176 163 $2,927 $3,132 $3,138 $3,017 $2,943 $3,261 $3,157 $2,919 $2,902 $3,216 $3,188 $2,944 $2,964 $3,359 $3,432 $3,197 $3,420 $3,541 $3,553 $3,434 $3,389 $3,681 $3,802 $3,448 1,200 1,205 1,161 1,145 1,145 1,138 1,138 1,074 1,102 1,040 1,037 1,051 1,077 1,041 1,092 1,107 1.118 1,127 1,204 1,206 1,179 1,261 1,237 1,217 246 241 277 278 237 250 355 365 396 416 466 444 397 409 409 342 347 339 351 184 186 190 187 182 173 172 172 171 156 140 139 138 138 137 137 136 137 137 137 137 141 145 146 195 160 166 139 172 170 170 (139) 164 150 155 165 147 172 156 131 161 145 159 150 156 159 158 140 166 179 174 149 180 172 190 177 198 164 211 170 218 172 233 94 218 196 233 179 127 131 140 131 127 133 137 118 92 96 104 91 87 86 105 94 92 98 111 105 107 127 133 124 (114) 116 122 155 163 172 163 187 182 199 182 179 191 172 169 212 141 183 193 122 104 105 98 102 113 111 112 109 98 109 102 88 77 108 103 106 117 124 126 126 119 143 138 89 63 83 87 67 (1) 92 69 94 61 112 98 64 97 67 414 102 73 110 60 110 65 114 68 113 69 109 56 82 59 556 75 64 273 99 64 92 62 99 63 52 96 67 169 153 99 58 (99) 269 179 164 410 $3,137 ($211) 458 $3,107 ($429) 146 $3,016 $122 509 $3,197 $180 482 $3,010 ($67) 826 $3,583 (S682) 156 $3,003 $154 158 $2,901 $18 133 $2,862 $40 125 $2,767 $449 126 $2,802 $386 154 $2,775 $169 156 $3,351 (5387) 157 $3,064 $295 151 $2,994 $438 167 $2,970 $227 183 $3,074 $346 174 $3,022 $519 168 $3,122 $431 181 $3,102 $332 174 $3,053 $336 203 $3,086 $595 225 $3,250 $552 175 $3,128 $320 (continued on next page) 251 266 235 229 250 252 208 Tanel D. 1994-2002 Operating Revenu View Image - EXHIBIT 2Delta AirlinesSelected Quarterly Financial Data, 1993-2002a o Passenger Other, net revenues au Aircraft fuel Passenger wa commissions Aircraft Rent NNNN Depreciation & WO amortization Cargo Selling expenses Contracted | Aircraft mainte- services Anance & Repairs Facilities and other rent Restructuring | Asset writedowns charge Stabilization Act Total operating expenses Ooo Landing fees OPERATING INCOME (LOSS) S Passenger Other Wow service 134 146 166 148 171 196 184 1999 Q1 3,203 134 167 $3,504 1,268 1999 Q 2 3,860 134 (151) $3,843 1,271 1999 Q3 3,593 140 96 $3,829 1,306 1999 Q4 3,293 153 261 $3,707 1,349 2000 Q1 3,589 141 230 $3,960 1,428 2000 Q2 4,401 145 (154) $4,392 1,514 2000 3 4,050 141 154 $4,345 1,514 2000 Q 4 3,617 156 271 $4,044 1,515 2001 Q1 3,598 140 104 $3,842 1,607 2001 Q2 3,537 131 108 $3,776 1,560 2001 Q3 3,190 116 92 $3,398 1,534 2001 Q4 2,639 119 105 $2,863 1,423 2002 Q1 2,878 111 114 $3,103 1,501 2002 Q2 3,217 109 148 $3,474 1,563 2002 Q3 3,165 112 143 $3,420 1,555 2002 Q4 3,061 126 121 $3,308 1,546 316 354 367 384 434 461 533 541 514 463 472 368 339 401 468 475 191 216 203 174 169 176 164 152 141 144 137 118 107 89 72 54 146 153 154 169 185 186 183 187 188 186 183 180 178 179 175 177 284 297 302 281 307 324 331 318 310 281 291 289 287 192 74 160 200 198 86 190 214 179 165 152 120 145 140 141 113 113 130 133 122 102 114 134 120 114 127 124 101 94 98 95 85 190 206 213 215 228 237 239 262 257 253 248 258 263 241 256 243 172 187 193 216 205 185 181 182 163 176 181 $3,148 $356 188 194 $3,201 $642 180 149 199 $3,493 $336 179 320 179 $3,723 ($16) 188 205 $3,605 $355 195 86 226 $3,779 $613 199 22 192 $3,835 $510 189 226 $3,885 $159 198 248 $3,957 ($115) 192 60 216 $3,890 ($114) 198 68 (171) 170 $3,649 ($251) 192 991 (463) 182 $3,985 ($1,122) 203 202 $3,538 ($435) 211 23 184 $3,601 ($127) 213 225 (34) 168 $3,805 ($385) 207 (40) 191 169 $3,670 ($362) a Data collected from Delta Airlines quarterly SEC filings (see als Delta Airlines website: http://www.delta.com + 1:1 View Image - EXHIBIT 4Delta AirlinesSelected Quarterly Statistical Data, 1993-2002a EXHIBIT4 Delta Airlines Selected Quarterly Statistical Data, 1993-2002 Other Statistical Data (in millions, unless otherwise stated) Revenue Ton Miles Operating Rev- enue per Avail- able Seat Mile 144 148 149 145 142 145 147 147 145 147 1993 Q1 24.6 3,196 1993 Q2 25.1 3,263 1993 Q3 25.5 3,318 1993 Q4 24.6 3,228 1994 Q1 23.8 3,132 1994 Q2 24.5 3,226 1994 Q3 24.9 3,283 1994 Q4 24.8 3,268 1995 Q1 24.5 3,217 1995 Q2 25.0 3,251 1995 Q3 25.2 3,276 1995 Q4 25.1 3,260 1996 Q1 25.3 3,291 1996 Q2 26.3 3,418 1996 Q3 26.8 3,486 1996 Q4 27.0 3,510 1997 Q1 27.0 3,509 1997 Q2 27.5 3,573 1997 Q3 28.0 3,652 1997 Q4 27.8 3,623 230.9 341.5 236.5 344.8 236.6 345.1 229.9 339.7 223.6 333.2 228.7 338.1 230.5 340.1 230.1 341.7 226.5 339.4 226,0 340.7 225.8 339.0 223.0 341.2 218.6 345.9 224.9 352.4 226.8 357.0 229.4 365.7 228.3 369.2 232.2 372.9 234.8 375.2 233.2 378.4 147 148 150 146 145 146 148 148 147 148 149 148 152 154 157 159 159 161 165 164 17.9 19.8 20.6 20.1 19.0 20.9 21.5 20.8 19.5 20.4 20.3 20.4 21.2 23.3 23.6 23.2 23.2 25.1 24.8 24.1 14.0 15.5 16.5 15.5 14.7 16.1 16.9 15.8 15.1 15.9 16.3 1,402 1,547 1,645 1,550 1,468 1,607 1,686 1,584 1,505 1,592 1,631 1,594 1,678 1,856 1,930 1,827 1,852 2,003 2,033 1,890 1,580 1,728 1,822 1,747 1,647 1,788 1,856 1,775 1,677 1,759 1,793 1,772 1,839 2,029 2,101 2,026 2,036 2,191 2.223 2,094 $118.97 $124.55 $123.00 $122.67 $123.43 $133.02 $126.60 $117.67 $118.32 $128.45 $126.26 $117.17 $117.03 $127.89 $128.06 $118.25 $126.57 $128.93 $126.88 $123.69 $127.54 $123.55 $118.22 $129.99 $126.25 $146.14 $120.43 $116.95 $116.69 $110.52 $110.97 $110.44 $132.31 $116.65 $111.72 $109.85 $113.76 $110.03 $111.49 $111.73 $0.98 $0.95 $0.91 $0.99 $0.96 $1.11 $0.91 $0.89 $0.89 $0.85 $0.86 $0.85 $1.02 $0.90 $0.86 $0.85 $0.88 $0.85 $0.85 $0.86 $193.23 $187.28 $178.83 $176.96 $183.28 $182.99 $173.98 $169.73 $178.36 $189.27 $182.49 $171.33 $165.35 $168.85 $164.22 $160.11 $170.65 $162.27 $160.37 $165.74 56.99 61.51 64.48 63.01 61.58 65.55 67.60 63.84 61.38 63.58 64.61 63.44 66.24 70.66 72.03 67.57 68.53 72.92 72.59 68.09 15.9 148 147 147 153 156 157 157 160 163 162 16.8 18.6 19.3 18.3 18.5 20.0 20.3 18.9 (continued on next page) View Image - EXHIBIT 4Delta AirlinesSelected Quarterly Statistical Data, 1993-2002a EXHIBIT 4 (continued) Operating Rev- enue per Avail- 5 Table Seat Mile Operating e Cost per Available Seat Mile Operating Cost per Avail- able Ton Mile Passenger Mile Yield a Passenger Load Factor (%) 1998 Q1 1998 Q2 1998 Q3 1998 Q4 1999 01 1999 Q2 1999 Q3 1999 Q4 2000 Q1 2000 Q2 2000 Q3 2000 Q4 2001 01 2001 2 2001 Q3 2001 Q4 2002 Q1 2002 Q2 2002 Q3 2002 Q4 27.1 3,537 27.3 3,568 27.8 3,627 27.9 3,650 27.4 3,587 28.1 3,698 28.5 3,773 28.5 3,846 28.1 3,902 28.5 3,952 28.8 4,029 28.1 3,922 27.3 3,841 28.0 3,936 27.1 3,819 24.7 3,507 24.5 3,501 25.3 3,622 25.6 3,674 24.5 3,524 227.8 372.3 230.5 373.2 229.5 376.0 229.4 380.8 224.7 377.7 228.9 383.5 228.5 381.4 229.0 387.4 224.5 384.8 225.8 386.4 225.6 387.3 223.6 387.5 219.6 381.7 225.5 387.8 214.7 373.2 196.1 338.3 196.9 341.6 202.5 348.1 202.5 346.8 177.0 322.2 158 160 163 164 161 165 167 167 165 167 170 166 162 161 162 167 166 166 168 170 170 171 171 173 175 169 172 174 148 148 152 153 141 23.3 25.8 24.2 24.0 23.7 25.7 25.2 24.1 23.6 26.4 25.2 23.2 22.0 24.4 21.9 18.9 19.8 21.6 21.7 21.0 18.4 20.6 19.8 19.1 19.2 20.8 20.9 19.4 19.1 21.8 21.7 19.2 18.2 20.1 19.0 15.9 1,844 2,056 1,975 1,914 1,917 2,083 2,093 1,938 1,914 2,179 2,166 1,922 1,821 2,012 1,899 1,588 1,674 1,829 1,877 1,760 2,030 2,241 2,156 2,106 2,096 2,258 2,267 2,139 2,099 2,369 2,344 2,116 1,988 2,177 2,044 1,709 1,808 1,975 2,008 1,906 $125.19 $134.84 $136.94 $123.39 $127.90 $136.71 $134.28 $130.16 $140.78 $154.22 $150.70 $144.05 $140.53 $134.68 $125.28 $116.13 $126.65 $137.32 $133.62 $135.19 $112.78 $113.05 $117.06 $111.94 $114.91 $113.87 $122.49 $130.72 $128.16 $132.69 $133.01 $138.39 $144.74 $138.74 $134.53 $161.64 $144.40 $142.34 $148.66 $149.98 $0.86 $0.86 $0.90 $0.86 $0.88 $0.87 $0.93 $0.97 $0.92 $0.96 $0.95 $0.99 $1.03 $0.99 $0.96 $1.14 $1.01 $0.99 $1.04 $1.04 $169.10 $178.47 $176.52 $163.76 $167.10 $185.30 $171.68 $169.91 $187.50 $201.97 $186.98 $188.15 $197.58 $175.78 $167.99 $166.17 $171.92 $175.87 $168.58 $173.96 68.11 75.31 71.15 68.51 69.97 74.11 73.39 68.05 68.05 76.51 75.13 68.48 66.61 71.77 70.01 64.42 68.33 72.31 73.35 71.91 167 163 147 16.7 146 150 152 140 18.3 18.8 17.6 Un * Data collected from Delta Airlines quarterly SC filirsee al elta Alinas webuits httpw.delt. Revenue passengers are the total number of aying Pants pa senga miles passengers. Available seat miles are the numbe of sea s mumslied by mb of mile: of aircraft seating capacity that is actually utilized (revenue passenger miles divided by available seat miles). the nun ber of miles flown by revenue ats are clown. Load factor is the percentage alab. pass