Wait, wait, wait. I know I am forgetting something. The merger that's it.
"World News Now," which airs on the cable news arm of ABC News, had a treat for viewers on Oct. 31, but the "good news" didn't mention the recently announced merger between Northwest and Delta.
"World News Now" called fare declines "good news for air travel for once," in its news brief. Co-host Jeremy Hubbard said on the broadcast:
Speaking of money, major U.S. airlines are cutting fares for the Thanksgiving and winter holiday seasons. The airlines see price cutting as necessary in the face of a slumping economy. Northwest Airlines started the rush with what basically amounts to a holiday fare sale and most other major airlines are matching Northwest's prices. So if you are planning to fly for the holidays then you could see a savings of up to 25 percent.
Northwest's "Holiday Fare Sale" which offers travelers attractive airfares during the upcoming holiday season for travel throughout the continental 48 United States and between the continental 48 states and Canada wasn't new, according to an Oct. 29 press release. It's actually the twelfth time Northwest has held the holiday sale.
But Hubbard did not explain the upside of Northwest Airlines Corporation's (NYSE: NWA) new role in the industry after its merger with Delta Airlines, Inc. (NYSE: DAL). The new airline will be the largest ever.
The U.S. Department of Justice gave final approval to Delta and Northwest on Oct. 29 and the Minneapolis Star-Tribune reported on Oct. 30 that the merger would generate about $35 billion in annual revenue and employ about 75,000 people.