Delta Air Lines and Northwest Airlines reached a $3.1 billion merger deal on Monday, April 14, 2008. The merge creates "Delta," the world's largest airline.

"Delta" will be based in Atlanta, Georgia, which is the current site of Delta Air Lines headquarters.

The enterprise value after the merger is approximately $17.7 billion. The company expects to incur one-time integration costs of $1 billion.

Seven directors from Delta, five from Northwest, and a representative from the Air Line Pilots Association will comprise the new board of directors. Delta Chairman of the Board, Daniel A. Carp, will act as chair, joined by Roy J. Bostock from Northwest as vice chair.

Delta's CEO, Richard H. Anderson will become CEO of the new company.

1. Projected $35 million in annual revenues
2. Combined fleet of over 800 aircraft
3. Will fly to over 390 destinations in 67 countries
4. Will employ over $75,000 people worldwide
5. Merger tag line: "Creating America's Premier Global Airline"
6. Northwest shareholders will receive 1.25 Delta shares for each Northwest share

1. "We are pleased that the people of Delta and Northwest will participate directly in the growth and future success of the combined company"—Delta CEO Richard H. Anderson
2. "Combining the Northwest and Delta networks will allow the strengthened airline to realize its full global potential and invest in its future."—Northwest CEO Doug Steenland

• Google Blog Search: Delta Northwest Merger

• BloggingStocks: What about your Delta/Northwest frequent flyer miles? (February 19, 2008)

• Briefing.com: Delta, Northwest Nearing Merger (February 19, 2008)

• TheDeal.com: Politicians want to query Delta-Northwest on possible merger (February 15, 2008)

• Peter Greenberg - The Travel Detective: Why Airlines Don't Make Good Banks (February 18, 2008)

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