http://www.wsbtv.com/news/15253226/detail.html?treets=atl&tml=atl_break&ts=T&tmi=atl_break_1_03190302142008 Report: Delta Deal's Done; Name Stays Delta UPDATED: 4:26 pm EST February 14, 2008 ATLANTA -- Delta and Northwest have reached agreement on the major points of their long-anticipated merger Thursday, according to an industry web site. Aero-News.net reported that "unnamed sources say executives with Delta Air Lines and Northwest Airlines have reached agreement on major terms" of the deal that would create the nation's largest airline. Officials at both airlines have not commented on the report. The web site reported the joined airline will keep the Delta name and the headquarters will stay in Atlanta. Air France/KLM will invest in the combined airline, the report on Aero-New.net states, in exchange for a board seat. The size of Air France's potential stake hasn't been set, the web site reported. The two airlines have been in talks for weeks trying to complete a deal creating a mega-carrier, with major U.S., European and Asian hubs. Some analysts have praised the match, pointing out Atlanta-based Delta is concentrated in the East and launches more daily flights across the Atlantic than any other carrier. Minnesota-based Northwest has a strong route structure in Asia. Federal regulators who will have to approve the deal are expected to look favorably on the minimal route overlap. U.S. Sen. Johnny Isakson (R-Ga.) has said Delta executives assured him the airline's headquarters will stay in Atlanta. In a regulatory filing Wednesday, Delta said its chief executive, Richard Anderson, voluntarily offered on Feb. 7 to waive the change in control provisions of his compensation arrangements. "Mr. Anderson volunteered to give up any enhanced or accelerated compensation that he would otherwise be entitled to if any consolidation transaction currently under review is completed," the filing said. It added that the personnel and compensation committee of Delta's board of directors accepted Anderson's offer. The filing did not say how much money Anderson would potentially give up. Later Wednesday, Northwest said CEO Doug Steenland would give up some of his change-of-control payout -- if he stays with the merged airline "in an executive capacity." In that scenario, Steenland "will waive any acceleration of compensation that would be triggered by the merger, including the acceleration of vesting dates for restricted stock and stock options," Northwest spokeswoman Tammy Lee said in a written statement. The statement said nothing about Steenland's pay if he leaves after a combination, or if he stays as a board member but not an executive. ____________________________________________________________________________________ Never miss a thing. Make Yahoo your home page. http://www.yahoo.com/r/hs <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> If you wish to unsubscribe from the AIRLINE List, please send an E-mail to: "listserv@xxxxxxxxxxxxxxxxx". Within the body of the text, only write the following:"SIGNOFF AIRLINE".