DELTA AIR LINES, INC. — Director's Dealing 2003

Oct 27, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELTA AIR LINES INC /DE/ (DAL)
CIK: 0000027904
Period of Report: 2003-10-23

Reporting Person: THOMPSON LARRY D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-23	Common Stock	A	1146	$12.93	Acquired	1821	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-23	Phantom Stock Units	$0	A	488	Acquired		Common Stock (488)	Direct

Footnotes

F1: Shares acquired under Delta's Non-employee Directors' Stock Plan in a transaction exempt under Rule 16b-3(d).

F2: The phantom stock units were accrued under Delta's Non-employee Directors' Deferred Compensation Plan in a transaction exempt under Rule 16b-3(d). They are convertible into Delta common stock on a 1-for-1 basis. The deferred amounts will be paid to the reporting person after he completes his service as a member of Delta's Board of Directors.