Material Agreement, Financial Obligation (Form 8-K)

On September 30, 2025, Delta Air Lines, Inc. and its indirect wholly-owned subsidiary SkyMiles IP Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands, entered into an amendment ("Amendment No. 2") to the term loan credit and guaranty agreement, dated September 23, 2020 (as previously amended, the "SkyMiles Credit Facility"), with Barclays Bank PLC, in its capacity as administrative agent and lead arranger and Barclays Bank PLC, in its capacity as a lender.

Amendment No. 2 amends the SkyMiles Credit Facility to, among other things, (i) refinance the facility's existing term loans with the proceeds of replacement term loans bearing interest at a variable rate equal to an adjusted term SOFR (but not less than 0.0% per annum), plus a reduced margin of 1.50% per annum, payable quarterly; (ii) extend the scheduled maturity of the facility from October 20, 2027 to October 20, 2028; (iii) reduce the amortization payments from 20.0% to 1.0% per year, payable quarterly; and (iv) add a prepayment premium of 1.00% payable in connection with a Repricing Event (as defined in the amended SkyMiles Credit Facility) occurring within six months following September 30, 2025. There were no other material changes to the terms of the SkyMiles Credit Facility.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference, insofar as it relates to the creation of a direct financial obligation.