DELTA AIR LINES, INC. — Director's Dealing 2004

May 11, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DELTA AIR LINES INC /DE/ (DAL)
CIK: 0000027904
Period of Report: 2004-05-01

Reporting Person: Bastian Edward H (Sr. VP - Finance & Controller)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6524	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$10.53	2012-10-23	Common Stock (19300)		Direct
Employee Stock Option (Right to Buy)	$11.60	2009-03-15	Common Stock (16667)		Direct
Employee Stock Option (Right to Buy)	$11.60	2010-01-21	Common Stock (4534)		Direct
Employee Stock Option (Right to Buy)	$11.60	2011-01-28	Common Stock (10400)		Direct
Employee Stock Option (Right to Buy)	$11.60	2011-07-27	Common Stock (6000)		Direct
Employee Stock Option (Right to Buy)	$11.60	2012-07-25	Common Stock (12267)		Direct
Stock Appreciation Right	$10.75	2009-01-22	Common Stock (38200)		Direct

Footnotes

F1: Options covering 50% of the shares became exercisable on October 24, 2003; options covering the balance of the shares will become exercisable on October 24, 2004.

F2: Options covering 50% of the shares become exercisable on each of the first and second anniversaries of December 26, 2003.

F3: Stock Appreciation Rights covering 50% of the shares became exercisable on January 23, 2004; the balance of the Stock Appreciation Rights will become exercisable on January 23, 2005.