• Delta Air Lines average debt/equity ratio for 2023 was 2.21, a 59.74% decline from 2022.
• Delta Air Lines average debt/equity ratio for 2022 was 5.49, a 75.91% decline from 2021.
• Delta Air Lines average debt/equity ratio for 2021 was 22.79, a 205.09% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.