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

Aug 28, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELTA AIR LINES INC /DE/ (DAL)
CIK: 0000027904
Period of Report: 2003-08-26

Reporting Person: BURNS M MICHELE (EVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-26	Common Stock	A	2920	—	Acquired	25615	Direct
2003-08-26	Common Stock	F	1240	$12.18	Disposed	24375	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series B Esop Convertible Preferred Stock	$41.97		Common Stock ()	45	Indirect

Footnotes

F1: Includes 1 additional share accrued under the dividend reinvestment feature of Restricted Stock awarded under Delta's 2000 Performance Compensation Plan and 39 additional shares accrued under Delta's dividend reinvestment plan.

F2: Held under the Delta Family-Care Savings Plan. The Series B ESOP Convertible Preferred Stock does not expire. Transactions in the plan are exempt under Rule 16b-3(c). Each such share is convertible into 1.7155 shares of common stock. The price of the derivative security is $72.00 per share.