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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

Delta Is Giving Away 1% of Its Profits to Charity

By
Jonathan Chew
Jonathan Chew
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By
Jonathan Chew
Jonathan Chew
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February 26, 2016, 1:27 PM ET
NETHERLANDS-FRANCE-BRITAIN-US-AVIATION
A plane of Delta Airlines with 398 people on board, on his way from Paris to Detroit, made a precautionary landing at Schiphol airport on August 7, 2013. An Airbus headed from Paris to the US with over 300 people on board landed safely at Amsterdam Schiphol airport on Wednesday after it was diverted because its flaps jammed. "The plane has landed safely at Schiphol," air traffic control spokeswoman Bertine Langelaan told AFP. Delta Airlines said earlier that its Flight 99 to Detroit had been diverted because it was unable to retract its flaps after taking off from Paris hub Charles de Gaulle. AFP PHOTO / ANP - MARCEL ANTONISSE = netherlands out (Photo credit should read MARCEL ANTONISSE/AFP/Getty Images)Photograph by Marcel Antonisse—AFP/Getty Images
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Delta Air Lines will donate 1% of its net income to charitable organizations.

The carrier will start its commitment this year, and barring unforeseen financial circumstances, Delta (DAL) is set to give away around $37 million to charitable organizations worldwide, according to an open letter shared by incoming CEO Ed Bastian to his employees.

“2015 was a remarkable year for Delta, and the communities we call home should share in this success,” he wrote.

The airline reported a net income of around $4.5 billion in 2015, which was nearly six times more than the previous year’s figure of $659 million. Its growth was driven in large part by a record-breaking fourth quarter and a drop in adjusted fuel expenses over the previous year of $726 million.

Delta didn’t specify which charities would receive its donations, which will be fulfilled through cash contributions, in-kind travel and grants. But the Atlanta-based carrier did list a few key areas that the company is committed to, including education, arts and culture, the military, and the environment.

The carrier’s ability to follow through on its commitment to charity will depend on its performance this year. While cheap oil prices have benefited airlines like Delta and American Airlines (AAL), industry-wide competition that has been lowering air fares could also have a bearing as airlines could be driven to reduce margins per seat to fill its planes.

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