Delta Air Lines, Inc. announced unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total operating revenue of $9,458 million compared to $9,502 million a year ago. Operating income was $1,020 million compared to $1,717 million a year ago. Income before income taxes was $952 million compared to $1,533 million a year ago. Net income was $622 million or $0.84 per diluted share compared to $980 million or $1.25 per diluted share a year ago. Net cash provided by operating activities was $1,125 million compared to $1,479 million a year ago. Adjusted pre-tax income was $923 million compared to $1,447 million a year ago. Adjusted net income was $604 million or $0.82 per diluted share compared to $926 million or $1.18 per diluted share a year ago. Property and equipment additions were $794 million. Capital expenditures, net was $609 million.

For the year, the company reported total operating revenue of $39,639 million compared to $40,704 million a year ago. Operating income was $6,952 million compared to $7,802 million a year ago. Income before income taxes was $6,636 million compared to $7,157 million a year ago. Net income was $4,373 million or $5.79 per diluted share compared to $4,526 million or $5.63 per diluted share a year ago. Net cash provided by operating activities was $7,205 million compared to $7,927 million a year ago. Adjusted pre-tax income was $6,071 million compared to $5,865 million a year ago. Adjusted net income was $4,017 million. Adjusted net debt at the end of the quarter stood at $6.1 billion, a $500 million reduction compared to the end of 2015.

For the quarter on consolidated basis the company announced total revenue passenger miles of 49,985 million against 49,573 million a year ago. Available seat miles were 58,715 million against 58,199 million a year ago. Passenger load factor was 85.1% against 85.2% a year ago. Passenger revenue per available seat mile was 13.58 cents against 13.96 cents a year ago.

For the year, the company reported total revenue passenger miles of 213,098 million against 209,625 million a year ago. Available seat miles were 251,867 million against 246,764 million a year ago. Passenger load factor was 84.6% against 84.9% a year ago. Passenger revenue per available seat mile was 13.41 cents against 14.10 cents a year ago.

For the March quarter the company expects a unit revenue increase of flat to up 2%, stemming the declines that have been ongoing for two years. The margin pressure is likely to peak in the March quarter, and the company expects margins to expand beginning in the second half of the year. Passenger unit revenue to be up 0% to 2%.