Delta, Northwest pilots reach contract agreement

By Lisa Kerner

Charlotte, N.C., Aug. 11 - Pilots from Delta Air Lines Inc. and Northwest Airlines Corp. voted to approve a joint contract, the terms of which will be applicable to both pilot groups upon closing of the Delta-Northwest merger.

"Approval of a joint contract that will cover both pilot groups immediately upon closing of the merger is an historic milestone in creating the world's premier global airline and we are pleased that pilots from both airlines chose to take this important step to unify the pilot group," Delta chief executive officer Richard Anderson said in a news release.

In April, Atlanta-based Delta and Northwest, located in Eagan, Minn., announced plans to merge in an all-stock transaction with a combined enterprise value of $17.7 billion.

Delta and Northwest shareholders will vote on the merger at separate meetings on Sept. 25, it was previously reported.

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