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ACL65PILOT

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Joined
Dec 6, 2006
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Delta-Northwest merger’s final approval may be near

By KELLY YAMANOUCHI
The Atlanta Journal-Constitution
Wednesday, October 29, 2008
Atlanta-based Delta Air Lines’ merger with Northwest Airlines may get U.S. Department of Justice approval in a matter of days, industry observers say.
Some say the deal could be granted antitrust approval in early November, or even earlier, although that could depend on resolving some issues.
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“There was really nobody out there who put forth any good opposition on this,” said longtime airline consultant Darryl Jenkins.
Michael Boyd, president of Boyd Group International Inc., an aviation consulting firm in Evergreen, Colo., said he expects the Department of Justice to announce its decision very soon.
“It’s not like they are still studying it,” he said. The merger was easy to evaluate on antitrust grounds, because “there is almost no overlap of routes, so why would you turn it down?”
Once the Nov. 4 election is over, the Bush administration’s antitrust regulators will start to wrap up their work and likely will say, “Let’s get it over with,” Boyd said. “Why leave this in the inbox” for the next administration? he asked.
Delta spokesman Kent Landers said Tuesday he could not comment on timing of the closing. “We remain confident it will close by the end of the year, but no updates,” he said.
Northwest Chief Executive Doug Steenland said last week during an investor conference call that the Eagan, Minn.-based company expects the closing of the merger to occur “soon.”
When Delta Chief Executive Richard Anderson was asked during an investor conference call Oct. 15 how confident he was that the Justice Department would sign off on the deal by the end of the year, Anderson said “extremely confident.”
Delta plans to close the deal within days of the approval. Anderson said in a message to employees last week that the Justice Department approval “is really basically the last major hurdle before the deal closes.”
“After the DOJ approves, there’s a bunch of paperwork and legal documents that need to be put in order before we officially close the deal,” Anderson said. “It’s basically tying up any loose ends and that should take a few days.”
There could be some issues to wrap up, including a lawsuit filed in U.S. District Court in San Francisco by travelers suing to block the merger, who are represented by Joseph Alioto.
Meanwhile, Delta and Northwest pilots remain in an arbitration process to decide how to integrate their seniority lists in the merger. The last in a series of arbitration hearings is scheduled for Nov. 15-17, though the arbitration panel urged the two parties to come to a negotiated agreement before a decision from the panel.
— Staff writer Marilyn Geewax in Washington, D.C., contributed to this article.
 
MSP news

Local news at MSP yesterday was saying approval could be as early as this Friday.
 
Good Luck Guys...

All eyes are watching. I still expect to see more consolidation. It is when things are quiet that one needs to look over ones back.


Cheers,

AAflyer
 
It will be interesting to see how they are going to staff all the aircraft orders that CAL has coming.


My guess is that our best bet would be applying to CAL when they start hiring. When they combine the list, I don't have a whole lot of faith that it will turn out well for those of us on the street. I bet even the senior guys who took Voluntary furloughs are gonna feel like they shot themselves in the foot.
 
Thought that they would have to go through the whole list...including furloughed folks and give them the chance to come back...that is what I was told...and what has been done before.

Apply to CAL?.....they are not hiring, and also have people on the street. I really don't think that will be an option before you get a recall....anyway good luck to all of us.
 
A good time to buy DAL stock? No?

Most analysts are leaning towards a share price of 15 bucks within the next 52 weeks. Stock currently trading at about 8 bucks.

Discuss.
 

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