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About the Merger
Key Merger Facts

Stock Ticker: NYSE: DAL NYSE: NWA
Headquarters: Atlanta Minneapolis/St. Paul
Industry Position:
  • Third largest carrier in the U.S. (13.2% of domestic available seat miles / ASMs)
  • Fourth largest carrier in the world (4.1% of worldwide ASMs)
  • Seventh largest carrier in the U.S. (7.3% of domestic ASMs)
  • Ninth largest carrier in the world (2.6% of worldwide ASMs)
Employees:
  • Total: 48,400 (55,000 including Comair)
  • Pilots: 6,280
  • Flight Attendants: 11,060
  • Maintenance: 6,980
  • Reservations: 4,250
  • Airport: 14,360
  • Corporate: 5,070
  • Other:  400
  • Comair total: 6,600
  • Total: 29,000 (32,800 including Mesaba and Compass)
  • Pilots: 4,490
  • Flight Attendants: 7,680
  • Maintenance: 1,090
  • Reservations: 1,900
  • Airport: 7,600
  • Corporate: 3,170
  • Other: 3,070
  • Mesaba total: 3,500
  • Compass total: 300
Mainline Aircraft
(as of 12/31/07):
446 356 (including 13 freighters)
Regional Carriers and Aircraft (As of 12/31/07): 8 regional carriers operating more than 480 regional aircraft 3 regional carriers operating more than 210 regional aircraft
2007 Passengers Enplaned: 109 million 66 million
2007 RPMs / ASMs (consolidated system): 122,065 million / 151,764 million 78,320 million / 93,328 million
Alliance: SkyTeam SkyTeam
Hubs:  Atlanta; Cincinnati; New York-JFK; Salt Lake City Amsterdam; Detroit; Memphis; Minneapolis/St. Paul; Tokyo-Narita
Total Destinations:U.S. Destinations:Countries Served:Total Daily Flights: 327
212
62
4,200
250
200
21
2,500
2007 Financials (consolidated system): Revenues:
Pre-Tax Income:
Net Income:
$19.2 billion
$625 million
$418 million
Revenues:
Pre-Tax Income:
Net Income :
$12.5 billion
$778 million
$556 million
Key Benefits of Merger:
  • Merger combines Delta’s strengths in the South, Mountain West, Northeast, Europe and Latin America with Northwest’s presence in the Midwest, Canada and Asia; competition preserved and enhanced as a result of complementary networks
  • No involuntary furloughs of frontline employees expected, employees to be provided seniority protection and equity in the new airline
  • Customers, communities to benefit from expanded global route system, more competitive, financially secure airline
  • No hub closures; improved international access to benefit small communities
  • Strong financial base with industry-leading liquidity
  • Merger by addition, not subtraction: annual revenue and cost synergies in excess of $1 billion from more effective aircraft utilization, a more comprehensive, diversified route system and improved operational efficiency
Combined Operational Information: Company Name: Delta Air Lines
Headquarters: Atlanta with executive offices in Minneapolis/St. Paul, New York, Tokyo, Amsterdam and Paris
CEO: Richard Anderson
Employees: More than 75,000 employees operating in 67 countries
Hubs: Atlanta; Amsterdam; Cincinnati; Detroit; Memphis; Minneapolis/St.Paul; New York-JFK; Salt Lake City; Tokyo
Destinations:             More than 390 worldwide destinations (With SkyTeam more than 840 destinations in 162 countries)
Board: Seven directors from Delta Board, including Richard Anderson and current Delta chairman Daniel Carp; Five directors from Northwest Board, including Roy Bostock and Doug Steenland; One director from ALPA
Global Ranking: #1 ASM Share (6.8 percent); #1 Flight Share (8.0 percent); and #1 Seat Share (6.5 percent). As a combined carrier, Delta will be the #1 U.S. carrier to Japan; #1 U.S. carrier to Europe; #1 U.S. carrier in Africa; #1 U.S. carrier in the Middle East and India; #2 U.S. carrier in Asia and the #2 U.S. carrier in Latin America.
Transaction Terms:
  • Stock-for-stock transaction valued at $17.7 billion:

    – Northwest shareholders receive 1.25 shares of Delta common stock
    – Consideration represents a 16.8% percent premium to Apr. 14 closing price

History:
  • Delta traces its roots back to 1924, when Huff Daland Dusters was founded as the world's first aerial crop dusting organization.
  • 1928, the company became Delta Air Service.
  • June 17, 1929, Delta inaugurated airline service with the first passenger flights over a route stretching from Dallas, TX to Jackson, MS, via Shreveport and Monroe, LA.
  • 1941, the company moved its headquarters to Atlanta.
  • 1972, Northeast Airlines merged with Delta.
  • 1987, Western Airlines merged with Delta and it became the fourth largest U.S. carrier and fifth largest world carrier. First transpacific service begins: Atlanta and Portland, OR, to Tokyo.
  • Northwest began on October 1, 1926, flying mail between Minneapolis/St. Paul and Chicago.
  • Passenger service began in 1927.
  • July 15, 1947, Northwest pioneered the Great Circle route to Asia, with service to Tokyo, Seoul, Shanghai, and Manila.
  • October 1, 1986, Northwest completed the acquisition of Republic Airlines. Northwest's work force expanded overnight from less than 17,000 to more than 33,000.
  • 1991, Northwest and KLM Royal Dutch Airlines launched their first joint service, twice-weekly flights between Minneapolis/St. Paul and Amsterdam.

WHERE TO FIND ADDITIONAL INFORMATION
Delta Media Relations: 404 715 2554
Delta Investor Relations: 404 715 2170
Brunswick Group: 212 333 3810
Northwest Media Relations: 612 726 2331
Northwest Investor Relations: 800 953 3332

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,’ “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Delta's and Northwest’s expectations with respect to the synergies, costs and charges and capitalization, anticipated financial impacts of the merger transaction and related transactions; approval of the merger transaction and related transactions by shareholders; the satisfaction of the closing conditions to the merger transaction and related transactions; and the timing of the completion of the merger transaction and related transactions.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside our control and difficult to predict. Factors that may cause such differences include, but are not limited to, the possibility that the expected synergies will not be realized, or will not be realized within the expected time period, due to, among other things, (1) the airline pricing environment; (2) competitive actions taken by other airlines; (3) general economic conditions; (4) changes in jet fuel prices; (5) actions taken or conditions imposed by the United States and foreign governments; (6) the willingness of customers to travel; (7) difficulties in integrating the operations of the two airlines; (8) the impact of labor relations, and (9) fluctuations in foreign currency exchange rates. Other factors include the possibility that the merger does not close, including due to the failure to receive required stockholder or regulatory approvals, or the failure of other closing conditions.

Delta cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in Delta’s and Northwest’s most recently filed Forms 10-K. All subsequent written and oral forward-looking statements concerning Delta, Northwest, the merger, the related transactions or other matters and attributable to Delta or Northwest or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Delta and Northwest do not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.

Additional Information About the Merger and Where to Find It

In connection with the proposed merger, Delta will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 that will include a joint proxy statement of Delta and Northwest that also constitutes a prospectus of Delta.  Delta and Northwest will mail the joint proxy statement/prospectus to their stockholders. Delta and Northwest urge investors and security holders to read the joint proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). You may also obtain these documents, free of charge, from Delta’s website (www.delta.com) under the tab “About Delta” and then under the heading “Investor Relations” and then under the item “SEC Filings.” You may also obtain these documents, free of charge, from Northwest’s website (www.nwa.com) under the tab “About Northwest” and then under the heading “Investor Relations” and then under the item “SEC Filings and Section 16 Filings.”  

Delta, Northwest and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Delta and Northwest stockholders in favor of the merger. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Delta and Northwest stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about Delta’s executive officers and directors in its Annual Reports on Form 10-K (including any amendments thereto), Current Reports on Form 8-K and other documents that have previously been filed with the SEC since April 30, 2007 as well as in its definitive proxy statement to be filed with the SEC related to Delta’s 2008 Annual Meeting of Stockholders. You can find information about Northwest’s executive officers and directors in its Annual Reports on Form 10-K (including any amendments thereto), Current Reports on Form 8-K and other documents that have previously been filed with the SEC since May 31, 2007 as well as in its definitive proxy statement to be filed with the SEC related to Northwest’s 2008 Annual Meeting of Stockholders. You can obtain free copies of these documents from Delta and Northwest using the contact information above.

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Forward Looking Statements

This website includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,’ “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Delta's and Northwest’s expectations with respect to the synergies, costs and charges and capitalization, anticipated financial impacts of the merger transaction and related transactions; approval of the merger transaction and related transactions by shareholders; the satisfaction of the closing conditions to the merger transaction and related transactions; and the timing of the completion of the merger transaction and related transactions.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside our control and difficult to predict. Factors that may cause such differences include, but are not limited to, the possibility that the expected synergies will not be realized, or will not be realized within the expected time period, due to, among other things, (1) the airline pricing environment; (2) competitive actions taken by other airlines; (3) general economic conditions; (4) changes in jet fuel prices; (5) actions taken or conditions imposed by the United States and foreign governments; (6) the willingness of customers to travel; (7) difficulties in integrating the operations of the two airlines; (8) the impact of labor relations, and (9) fluctuations in foreign currency exchange rates. Other factors include the possibility that the merger does not close, including due to the failure to receive required stockholder or regulatory approvals, or the failure of other closing conditions.

Delta cautions that the foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in Delta’s and Northwest’s most recently filed Forms 10-K. All subsequent written and oral forward-looking statements concerning Delta, Northwest, the merger, the related transactions or other matters and attributable to Delta or Northwest or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Delta and Northwest do not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.

Additional Information About the Merger and Where to Find It

In connection with the proposed merger, Delta will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 that will include a joint proxy statement of Delta and Northwest that also constitutes a prospectus of Delta. Delta and Northwest will mail the joint proxy statement/prospectus to their stockholders. Delta and Northwest urge investors and security holders to read the joint proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). You may also obtain these documents, free of charge, from Delta’s website (www.delta.com) under the tab “About Delta” and then under the heading “Investor Relations” and then under the item “SEC Filings.” You may also obtain these documents, free of charge, from Northwest’s website (www.nwa.com) under the tab “About Northwest” and then under the heading “Investor Relations” and then under the item “SEC Filings and Section 16 Filings.”

Delta, Northwest and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Delta and Northwest stockholders in favor of the merger. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Delta and Northwest stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about Delta’s executive officers and directors in its definitive proxy statement filed with the SEC on April 25, 2008 related to Delta’s 2008 Annual Meeting of Stockholders. You can find information about Northwest’s executive officers and directors in its Amendment to its Annual Report on Form 10-K filed with the SEC on April 29, 2008. You can obtain free copies of these documents from Delta and Northwest using the contact information above.

A Win for Employees A Win for Customers A Win for Communities