| Stage | DAL | % of rev | LUV | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $20.2B | 100.00% | $8.4B | 100.00% | DAL ×2.40 |
| Gross profit | $5.6B | 27.86% | $2.4B | 28.79% | LUV +0.9pp |
| Operating income | $1.5B | 7.20% | $379M | 4.50% | DAL +2.7pp |
| Pre-tax income | $1.1B | 5.32% | $355M | 4.22% | DAL +1.1pp |
| Net income | $756M | 3.75% | $270M | 3.21% | DAL +0.5pp |
| Stage | DAL | LUV | Gap · A − B |
|---|---|---|---|
| Revenue | $20.2B100.00% | $8.4B100.00% | DAL ×2.40 |
| Gross profit | 27.86%$5.6B | 28.79%$2.4B | LUV +0.9pp |
| Operating income | 7.20%$1.5B | 4.50%$379M | DAL +2.7pp |
| Pre-tax income | 5.32%$1.1B | 4.22%$355M | DAL +1.1pp |
| Net income |
| 3.75%$756M |
| 3.21%$270M |
| DAL +0.5pp |
No disclosed counterparties: LUV.
None