Delta Air Lines, Northwest Airlines complete merger

Delta Air Lines Inc. and Northwest Airlines have officially merged after gaining approval from the U.S. Department of Justice.

The combined airline will be based in Atlanta and retain the Delta name, with Northwest temporarily becoming a wholly owned subsidiary of Delta known as NWA Inc.

Delta (NYSE: DAL) and Northwest announced plans to merge in April. The deal creates the world’s largest airline. Northwest is the third-largest carrier at Milwaukee's General Mitchell International Airport and is a passive minority owner of Midwest Air Group Inc., the Oak Creek-based operator of Mitchell's top airline Midwest Airlines.

The new Delta has about 75,000 worldwide employees.

As approved by both companies’ stockholders earlier this year, Northwest stockholders will receive 1.25 Delta shares for each Northwest share they own. Based on Delta’s closing stock price Wednesday, this exchange ratio is the equivalent of $9.99 per Northwest common share.

From its hubs in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK, Salt Lake City and Tokyo-Narita, Delta and its Northwest subsidiary offer service to more than 375 destinations worldwide in 66 countries and serve more than 170 million passengers each year.