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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Combined, the company and its regional partners will provide access to more than 390 destinations in 67 countries. Delta and Northwest, together, will have more than $35 billion in aggregate annual revenues, operate a mainline fleet of nearly 800 aircraft and employ approximately 75,000 people worldwide.
Chartered in 1940 to serve Delta Air Lines, the $2.5 billion Delta Community Credit Union changed its name in 2005 from Delta Employees CU and has since expanded to several counties throughout Georgia. The $1.8 billion Wings Financial CU was chartered in 1938 to serve Northwest Airlines but changed its name in 2004 and was approved for a trade, industry or profession charter in 2003.
Delta Community CU serves more than 165,000 members while Wings Financial serves 118,000 members.
Delta Community CU said "it is not offering any comment on the merger at this time" because the news involves the airline and not the credit union, according to a credit union spokeswoman.
"There are some things that still need to be worked out" with the airline, the spokeswoman said.
A comment from Wings Financial was not immediately available.
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