Thursday, 07 August 2008
Delta Air Lines has been granted permission from the European Commission to proceed with the acquisition of US rival Northwest Airlines for a fee exceeding $3 billion.
Following the move, both airlines will operate within the Delta brand and under the guidance of current Delta chief executive Richard Anderson.
A statement from an EU spokesman confirmed the Commission’s approval:
"After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it."
The newly created airline will be based in Atlanta with 75,000 employees. Despite both businesses exciting bankruptcy last year, the new airline is expected to generate $35 billion in annual revenues.
