DELTA AIR LINES, INC. — Director's Dealing 2016

May 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELTA AIR LINES INC /DE/ (DAL)
CIK: 0000027904
Period of Report: 2016-05-17

Reporting Person: ANDERSON RICHARD H (Director, Exec. Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-17	Common Stock	M	912000	$7.99	Acquired	1047827	Direct
2016-05-17	Common Stock	S	912000	$43.75	Disposed	135827	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-17	Employee Stock Option (right to buy)	$7.99	M	912000	Disposed	2018-10-28	Common Stock (912000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	209119	Indirect

Footnotes

F1: The reported shares were sold in open market transactions through a broker-dealer at prices ranging from $43.34 to $44.25 per share. The Reporting Person undertakes to provide, upon request, details regarding the number of shares sold at each separate price to the staff of the Securities and Exchange Commission, Delta Air Lines, Inc., or a security holder of Delta Air Lines, Inc.

F2: The option vested 20% on May 1, 2009, 20% on November 1, 2009, 20% on May 1, 2010 and 40% on November 1, 2011.