Delta Memo: Merger "Principles" Not Yet Met

Wall Street Journal:

Quote:

Delta Says Northwest Talks Hit Snags on 'Principles'
By PAULO PRADA and SUSAN CAREY
February 27, 2008; Page A3

In a sign that merger talks with Northwest Airlines Corp. have stalled, top executives of Delta Air Lines Inc. issued a memo to employees saying that no "potential transaction meets all our principles."

The memo comes as executives at the two airlines wait for their pilots to reach an accord among themselves on seniority -- an accord needed before a merger can move forward. In its memo, issued yesterday, Delta said seniority for all its employees is one priority it would consider in any merger.

Delta also cited other priorities, such as keeping its Atlanta headquarters. It added the airline will continue to focus on its "stand-alone plan" until all "these conditions are met." [Full article (subscription required)]