ATLANTA — The boards of Delta Airlines and Northwest Airlines may meet today to discuss a merger deal that would create the nation's largest airline, the Atlanta Journal-Constitution reported this morning.
The 11,000 pilots for the two airlines are the key to the final deal, the newspaper reported. A longtime Delta pilot briefed on the talks said the plan created by union negotiators would give each pilot a $50,000-$100,000 stake in the new company, but only if pilot unions for both airlines ratify the agreement. That would amount to up to $1 billion, or 5% to 7% of the value of the new company, which would be paid out either in cash or stock, the AJC reported.
Meanwhile, the $2.5 billion Delta Community CU, which has served the airline for more than 60 years, has said it is prepared to deal with whatever the future holds. Delta Community has made adjustments to its business strategy over the past few years including a name change in 2005, expansion to more select employee groups and to several counties in Georgia. In January, the credit union also launched a new logo.
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