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| Version 1 | Version 2 |
|---|---|
| US merger forms 'largest airline' | US merger forms 'largest airline' |
| (about 2 hours later) | |
| Rival US companies Delta Air Lines and Northwest Airlines have agreed to merge in a $5bn (£2.5bn) deal that would create the world's biggest carrier. | Rival US companies Delta Air Lines and Northwest Airlines have agreed to merge in a $5bn (£2.5bn) deal that would create the world's biggest carrier. |
| But the two pilots' unions did not agree on the terms of their contracts before the merger was announced. | |
| The new airline, to be called Delta, will have annual revenue of more than $35bn and employ some 75,000 staff. | The new airline, to be called Delta, will have annual revenue of more than $35bn and employ some 75,000 staff. |
| Analysts say the deal could prompt similar moves by other US airlines struggling with rising oil prices. | Analysts say the deal could prompt similar moves by other US airlines struggling with rising oil prices. |
| But the stock-swap deal, which was sealed a year after both carriers emerged from Chapter 11 bankruptcy protection, could face resistance from unions. | But the stock-swap deal, which was sealed a year after both carriers emerged from Chapter 11 bankruptcy protection, could face resistance from unions. |
| Pilots for Northwest and the union acting on behalf of most of the carrier's ground workers said they would oppose the merger. | Pilots for Northwest and the union acting on behalf of most of the carrier's ground workers said they would oppose the merger. |
| Airlines worldwide are suffering in the wake of a consumer slowdown in the US and Europe, making it harder to raise ticket prices against the fuel-price hikes. | Airlines worldwide are suffering in the wake of a consumer slowdown in the US and Europe, making it harder to raise ticket prices against the fuel-price hikes. |
| Atlanta base | Atlanta base |
| The merger agreed on Monday night will see Northwest shareholders receiving 1.25 Delta shares for each of their Northwest shares. | The merger agreed on Monday night will see Northwest shareholders receiving 1.25 Delta shares for each of their Northwest shares. |
| The combined company, which will be headed by Delta Chief Executive Officer Richard Anderson, will be based in Atlanta. | The combined company, which will be headed by Delta Chief Executive Officer Richard Anderson, will be based in Atlanta. |
| An unspecified number of job cuts are expected to reduce overlap in corporate and administrative departments, Delta said. | An unspecified number of job cuts are expected to reduce overlap in corporate and administrative departments, Delta said. |
| Before the merger, Delta had said it would eliminate 2,000 jobs this year. | Before the merger, Delta had said it would eliminate 2,000 jobs this year. |
| The deal still requires antitrust approval. | The deal still requires antitrust approval. |