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PILOT ADVISORS LP
> DAL
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2012 | DELTA AIR LINES, INC. | DAL | 454,594 | -2,057,049 | 4,507,000 | -14,330,000 | $9.91 |
| 12/31/2011 | DELTA AIR LINES, INC. | DAL | 991,040 | -1,520,603 | 8,018,000 | -10,819,000 | $8.09 |
| 09/30/2011 | DELTA AIR LINES, INC. | DAL | 2,511,643 | 826,083 | 18,837,000 | 3,380,000 | $7.50 |
| 06/30/2011 | DELTA AIR LINES, INC. | DAL | 1,685,560 | 1,011,025 | 15,457,000 | 8,847,000 | $9.17 |
| 03/31/2011 | DELTA AIR LINES, INC. | DAL | 674,535 | -704,640 | 6,610,000 | -10,768,000 | $9.80 |
| 12/31/2010 | DELTA AIR LINES, INC. | DAL | 1,379,175 | -819,015 | 17,378,000 | -8,208,000 | $12.60 |
| 09/30/2010 | DELTA AIR LINES, INC. | DAL | 2,198,190 | 1,996,915 | 25,586,000 | 23,221,000 | $11.64 |
| 06/30/2010 | DELTA AIR LINES, INC. | DAL | 201,275 | -332,150 | 2,365,000 | -5,418,000 | $11.75 |
| 03/31/2010 | DELTA AIR LINES, INC. | DAL | 533,425 | -290,325 | 7,783,000 | -1,591,000 | $14.59 |
| 12/31/2009 | DELTA AIR LINES, INC. | DAL | 823,750 | -168,663 | 9,374,000 | 482,000 | $11.38 |
| 09/30/2009 | DELTA AIR LINES, INC. | DAL | 992,413 | 212,014 | 8,892,000 | 4,374,000 | $8.96 |
| 06/30/2009 | DELTA AIR LINES, INC. | DAL | 780,399 | 371,300 | 4,518,000 | 2,215,000 | $5.79 |
| 03/31/2009 | DELTA AIR LINES, INC. | DAL | 409,099 | 246,990 | 2,303,000 | 445,000 | $5.63 |
| 12/31/2008 | DELTA AIR LINES, INC. | DAL | 162,109 | 96,450 | 1,858,000 | 1,369,000 | $11.46 |
| 09/30/2008 | DELTA AIR LINES, INC. | DAL | 65,659 | 0 | 489,000 | 115,000 | $7.45 |
| 06/30/2008 | DELTA AIR LINES, INC. | DAL | 65,659 | 0 | 374,000 | -191,000 | $5.70 |
| 03/31/2008 | DELTA AIR LINES, INC. | DAL | 65,659 | 45,000 | 565,000 | 257,000 | $8.61 |
| 12/31/2007 | DELTA AIR LINES, INC. | DAL | 20,659 | 20,659 | 308,000 | 308,000 | $14.91 |
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