ATLANTA and EAGAN, Minn. — After months of stalls and starts, Delta Air Lines and Northwest Airlines announced last night that the carriers will merge to create the world's largest airline valued at $17.7 billion.

The combined airline will be called Delta, according to a statement from Delta Air Lines. The company's headquarters will be in Atlanta with executive offices in Minneapolis/St. Paul, New York, Amsterdam, Paris and Tokyo.

Delta CEO Richard Anderson will be CEO of the combined company. Doug Steenland, the current Northwest CEO, will serve on the board of directors.

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