ExAF
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http://www.chron.com/disp/story.mpl/business/5539881.html
They say that they have reached an agreement on the big stuff.
Feb. 13, 2008, 7:16PM
Sources say airlines have agreed on terms
By MARY JANE CREDEUR and MARY SCHLANGENSTEIN
Bloomberg News
Delta and Northwest have agreed on major terms for a tie-up, including keeping Delta's name and Atlanta headquarters and having Delta Chief Executive Richard Anderson run the combined carrier, according to people familiar with the plans.
Spokeswomen for Delta and Eagan, Minn.-based Northwest declined to comment Wednesday.
Air France-KLM Group plans to invest in a combined Delta-Northwest in exchange for a board seat, people with knowledge of the matter said.
The size of Air France's potential stake hasn't been set, said the people, who didn't want to be named because the talks are private. Delta and Northwest have briefed pilots on details of a tie-up, the people said.
A spokeswoman for Air France declined comment.
A Delta-Northwest combination would create the world's largest airline and keep the carriers in the 11-member SkyTeam Alliance with Air France. Leo van Wijk, SkyTeam's chairman and the Air France vice chairman, said Jan. 29 his carrier would do "whatever is possible" to aid the merger.
The Associated Press reported that Anderson has offered to give up certain financial benefits he would be entitled to if Delta combines with another airline. In a regulatory filing Wednesday, Delta said its chief executive voluntarily offered on Feb. 7 to waive the change in control provisions of his compensation arrangements.
Sounds like this thing may be getting close to happening.
They say that they have reached an agreement on the big stuff.
Feb. 13, 2008, 7:16PM
Sources say airlines have agreed on terms
By MARY JANE CREDEUR and MARY SCHLANGENSTEIN
Bloomberg News
Delta and Northwest have agreed on major terms for a tie-up, including keeping Delta's name and Atlanta headquarters and having Delta Chief Executive Richard Anderson run the combined carrier, according to people familiar with the plans.
Spokeswomen for Delta and Eagan, Minn.-based Northwest declined to comment Wednesday.
Air France-KLM Group plans to invest in a combined Delta-Northwest in exchange for a board seat, people with knowledge of the matter said.
The size of Air France's potential stake hasn't been set, said the people, who didn't want to be named because the talks are private. Delta and Northwest have briefed pilots on details of a tie-up, the people said.
A spokeswoman for Air France declined comment.
A Delta-Northwest combination would create the world's largest airline and keep the carriers in the 11-member SkyTeam Alliance with Air France. Leo van Wijk, SkyTeam's chairman and the Air France vice chairman, said Jan. 29 his carrier would do "whatever is possible" to aid the merger.
The Associated Press reported that Anderson has offered to give up certain financial benefits he would be entitled to if Delta combines with another airline. In a regulatory filing Wednesday, Delta said its chief executive voluntarily offered on Feb. 7 to waive the change in control provisions of his compensation arrangements.
Sounds like this thing may be getting close to happening.
