Delta, Northwest to create largest airline
15 April 2008Delta Air Lines Inc will buy Northwest Airlines Corp for more than $3 billion under a proposal unveiled Monday to create the world’s biggest airline, as carriers seek to counter skyrocketing fuel prices and a weak economy.
After racking up $35 billion in losses and finally emerging from a five-year slump in 2006, U.S. airlines are hoping mergers could lead to higher fares as combined carriers reduce flights and use their increased market power to raise prices.
source: guardian.co.uk
