Delta Air Lines, Inc. announced unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total operating revenue of $10,245 million compared to $9,458 million a year ago. Operating income was $1,193 million compared to $1,020 million a year ago. Income before income taxes was $1,089 million compared to $952 million a year ago. Net income was $572 million or $0.80 per diluted share compared to $622 million or $0.84 per diluted share a year ago. Net cash provided by operating activities was $1,917 million compared to $1,125 million a year ago. Flight equipment, including advance payments were $798 million against $468 million a year ago. Ground property and equipment, including technology were $362 million against $326 million a year ago. Adjusted pre-tax income was $1,025 million compared to $923 million a year ago. Adjusted net income was $681 million or $0.96 per diluted share compared to $604 million or $0.82 per diluted share a year ago.

For the year, the company reported total operating revenue of $41,244 million compared to $39,639 million a year ago. Operating income was $6,114 million compared to $6,952 million a year ago. Income before income taxes was $5,701 million compared to $6,636 million a year ago. Net income was $3,577 million or $4.95 per diluted share compared to $4,373 million or $5.79 per diluted share a year ago. Net cash provided by operating activities was $5,148 million. Adjusted net debt as on December 31, 2017 was $8,750 million against $6,144 million as on December 31, 2016. Adjusted pre-tax income was $5,450 million compared to $6,071 million a year ago. Adjusted net income was $3,568 million or $4.93 per diluted share compared to $4,017 million or $5.32 per diluted share a year ago.

For the quarter on consolidated basis the company announced revenue passenger miles of 51,180 million against 49,985 million a year ago. Available seat miles were 60,060 million against 58,715 million a year ago. Passenger load factor was 85.2% against 85.1% a year ago. Passenger revenue per available seat mile was 14.15 cents against 13.58 cents a year ago.

For the year, the company reported total revenue passenger miles of 217,712 million against 213,098 million a year ago. Available seat miles were 254,325 million against 251,867 million a year ago. Passenger load factor was 85.6% against 84.6% a year ago. Passenger revenue per available seat mile was 13.69 cents against 13.41 cents a year ago.

For 2018, the company expects the reduction in the corporate tax rate will result in an all-in book tax rate for the company of 22%-24%. Looking ahead to 2018, the company expects to drive solid earnings growth by growing top line 4% to 6% improving cost trajectory and integrating international partner network. As a result, they are able to increase the previous full-year guidance to $6.35 to $6.70 per share due to additional benefits from tax reform. The company expects capital spending of roughly $4 billion, and continue to target capex at 50% of operating cash flow.

For the first quarter of 2018, the company expects earnings per share to be in the range of $0.60 to $0.80, pre-tax margin to 6% to 8%. The company expects to deliver total unit revenue growth of 2.5% to 4.5% in the March quarter and leverage its unrivaled domestic network, international partnerships, and solid pipeline of commercial initiatives to deliver similar performance each quarter throughout 2018.