UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1)*

                              DELTA AIR LINES, INC.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    247361108
                                    ---------
                                 (CUSIP Number)

                                December 31, 2005
                                -----------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  [ ]      Rule 13d-1(b)
                  [X]      Rule 13d-1(c)
                  [ ]      Rule 13d-1(d)



  *The remainder of this cover page shall be filled out for a reporting person's
  initial filing on this form with respect to the subject class of securities,
  and for any subsequent amendment containing information which would alter the
  disclosures provided in a prior cover page.

  The information required on the remainder of this cover page shall not be
  deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
  Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
  the Act but shall be subject to all other provisions of the Act (however, see
  the Notes).


                                  Page 1 of 9



CUSIP No. 247361108                   13G                      Page 2 of 9 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     S.A.C. Capital Advisors, LLC

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware

________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           0
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0 (see Item 4)
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         0
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0 (see Item 4)
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 (see Item 4)

________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0% (see Item 4)

________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*

     00

________________________________________________________________________________
                      *SEE INSTRUCTIONS BEFORE FILLING OUT



                                  Page 2 of 9


CUSIP No. 247361108                   13G                      Page 3 of 9 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     S.A.C. Capital Management, LLC

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware

________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           0
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0 (see Item 4)
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         0
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0 (see Item 4)
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 (see Item 4)

________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0% (see Item 4)

________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*

     00

________________________________________________________________________________
                      *SEE INSTRUCTIONS BEFORE FILLING OUT


                                  Page 3 of 9



CUSIP No. 247361108                   13G                      Page 4 of 9 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     CR Intrinsic Investors, LLC

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware

________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           0
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0 (see Item 4)
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         0
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0 (see Item 4)
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 (see Item 4)

________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0% (see Item 4)

________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*

     00

________________________________________________________________________________
                      *SEE INSTRUCTIONS BEFORE FILLING OUT



                                  Page 4 of 9



CUSIP No. 247361108                   13G                      Page 5 of 9 Pages


________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

     Steven A. Cohen

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     United States

________________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           0
               _________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          0 (see Item 4)
               _________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         0
               _________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            0 (see Item 4)
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 (see Item 4)

________________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

                                                                          [_]

________________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0% (see Item 4)

________________________________________________________________________________
12.  TYPE OF REPORTING PERSON*

     IN

________________________________________________________________________________
                      *SEE INSTRUCTIONS BEFORE FILLING OUT



                                  Page 5 of 9



ITEM 1(A)                      NAME OF ISSUER:

                               Delta Air Lines, Inc.

ITEM 1(B)                      ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

                               P.O. Box 20706
                               Atlanta, GA 30320-6001

ITEMS 2(A)                     NAME OF PERSON FILING:

                               This statement is filed by: (i) S.A.C. Capital
                               Advisors, LLC, ("SAC Capital Advisors"); (ii)
                               S.A.C. Capital Management, LLC, ("SAC Capital
                               Management"); (iii) CR Intrinsic Investors, LLC
                               ("CR Intrinsic Investors"); and (iv) Steven A.
                               Cohen.

ITEM 2(B)                      ADDRESS OF PRINCIPAL BUSINESS OFFICE:

                               The address of the principal business office
                               of (i) SAC Capital Advisors, CR Intrinsic
                               Investors and Mr. Cohen is 72 Cummings Point
                               Road, Stamford, Connecticut 06902 and (ii)
                               SAC Capital Management is 540 Madison
                               Avenue, New York, New York 10022.

ITEM 2(C)                      CITIZENSHIP:

                               SAC Capital Advisors, SAC Capital Management and
                               CR Intrinsic Investors are Delaware limited
                               liability companies. Mr. Cohen is a United States
                               citizen.

ITEM 2(D)                      TITLE OF CLASS OF SECURITIES:

                               Common Stock

ITEM 2(E)                      CUSIP NUMBER:

                               247361108

ITEM 3                         Not Applicable

ITEM 4                         OWNERSHIP:


                                  Page 6 of 9



                               As of the close of business on December 30, 2005:

                               1. S.A.C. Capital Advisors, LLC
                               (a) Amount beneficially owned: -0-
                               (b) Percent of class: 0%
                               (c)(i) Sole power to vote or direct the vote: -0-
                               (ii) Shared power to vote or direct the vote: -0-
                               (iii) Sole power to dispose or direct the
                               disposition: -0-
                               (iv) Shared power to dispose or direct the
                               disposition: -0-

                               2. S.A.C. Capital Management, LLC
                               (a) Amount beneficially owned: -0-
                               (b) Percent of class: 0%
                               (c)(i) Sole power to vote or direct the vote: -0-
                               (ii) Shared power to vote or direct the vote: -0-
                               (iii) Sole power to dispose or direct the
                               disposition: -0-
                               (iv) Shared power to dispose or direct the
                               disposition: -0-

                               3. CR Intrinsic Investors, LLC
                               (a) Amount beneficially owned: -0-
                               (b) Percent of class: 0%
                               (c)(i) Sole power to vote or direct the vote: -0-
                               (ii) Shared power to vote or direct the vote: -0-
                               (iii) Sole power to dispose or direct the
                               disposition: -0-
                               (iv) Shared power to dispose or direct the
                               disposition: -0-

                               4. Steven A. Cohen
                               (a) Amount beneficially owned:
                               (b) Percent of class: 0%
                               (c)(i) Sole power to vote or direct the vote: -0-
                               (ii) Shared power to vote or direct the vote: -0-
                               (iii) Sole power to dispose or direct the
                               disposition: -0-
                               (iv) Shared power to dispose or direct the
                               disposition: -0-

                               Pursuant to investment agreements, each of
                               SAC Capital Advisors and SAC Capital
                               Management share all investment and voting
                               power with respect to the securities held by
                               S.A.C. Capital Associates, LLC ("SAC Capital
                               Associates"). Pursuant to an investment
                               management agreement, CR Intrinsic Investors
                               maintains investment and voting power with
                               respect to the securities held by CR
                               Intrinsic Investments, LLC ("CR Intrinsic
                               Investments"). Mr. Cohen controls each of
                               SAC Capital Advisors, SAC Capital Management
                               and CR Intrinsic Investors.


                                  Page 7 of 9





ITEM 5                         OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

                               If this statement is being filed to report
                               the fact that as of the date hereof the
                               reporting person has ceased to be the
                               beneficial owner of more than five percent
                               of the class of securities, check the
                               following. |X|

ITEM 6                         OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
                               ANOTHER PERSON:

                               Not Applicable

ITEM 7                         IDENTIFICATION AND CLASSIFICATION OF THE
                               SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
                               REPORTED ON BY THE PARENT HOLDING COMPANY:

                               Not Applicable

ITEM 8                         IDENTIFICATION AND CLASSIFICATION OF MEMBERS
                               OF THE GROUP:

                               Not Applicable

ITEM 9                         NOTICE OF DISSOLUTION OF GROUP:

                               Not Applicable

ITEM 10                        CERTIFICATION:

         By signing below the signatory certifies that, to the best of his
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.


                                  Page 8 of 9





                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated:  February 14, 2006


S.A.C. CAPITAL ADVISORS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


CR INTRINSIC INVESTORS, LLC


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


STEVEN A. COHEN


By: /s/ Peter Nussbaum
   -----------------------------------------
Name:  Peter Nussbaum
Title: Authorized Person


                                  Page 9 of 9