On September 4th, 2005, due to the ineffective adjustment of business strategy, Northwest Airlines filed for bankruptcy protection, with the total debt in arrears approaching1800 million US dollars and the assets insufficient1450 million US dollars. On May 18, 2007, after the reorganization procedure of Northwest Airlines was completed, the judge of the Bankruptcy Court for the Southern District of new york signed an order and approved the reorganization plan of Northwest Airlines. On May 9, Northwest Airlines announced that 98.4% of the creditors and 96.9% of the airline creditors who voted agreed to the restructuring plan of Northwest Airlines.
In order to get out of bankruptcy protection, Northwest Airlines announced the establishment of a new board of directors. The company's new common stock has been approved to be listed on the new york Stock Exchange (NYSE) with the stock code "NWA". The new common stock started trading on new york Stock Exchange on May 2, 20071based on "pre-issuance trading" (stock code: NWA WI). The "routine" transaction of Northwest Airlines officially started on May 3, 20071day, and Northwest Airlines 13 employees (new york Stock Exchange No. : NWA) rang the opening bell on the NYSE, announcing that the company had completed the reorganization procedure and continued to fulfill its commitment to passengers and employees. After meeting the end conditions of the restructuring plan and the company's income from issuing 750 million US dollars of new equity, Northwest Airlines came out of bankruptcy protection.
According to the previous statement of Northwest Airlines, according to the requirements of the reorganization plan approved by the bankruptcy court, the common shares and preferred shares of the company that have been traded will be unconditionally cancelled.
merge
On April 14, 2008, Delta Air Lines (new york Stock Exchange listing code: DAL) and Northwest Airlines (new york Stock Exchange listing code: NWA) announced the merger by all-stock trading, and the market value of the merged enterprise was177 billion US dollars, making it the largest airline in the world.
On June 5438+ 10, 2008, Delta Air Lines and Northwest Airlines formally started negotiations on the merger, and the merger plan was disclosed on April 65438+May, 2008. According to the terms of the transaction, all shareholders of Northwest Airlines in the United States will receive the corresponding shares at the ratio of 1 share of Northwest Airlines to 1.25 shares of Delta Air Lines. The merger agreement still needs to be approved by the shareholders of Delta Air Lines and Northwest Airlines, and subject to review by relevant regulatory authorities.
After the merger, the name of Delta Air Lines will be retained and its headquarters will be located in Atlanta. Administrative offices have been set up in Atlanta, Minneapolis/Sao Paulo and new york, and international administrative offices have been set up in Amsterdam, Paris and Tokyo. According to the passenger turnover in 2007, Delta Air Lines merged with Northwest Airlines surpassed American Airlines to become the largest airline in the world.
(As of May 2008)
Airbus A3 19- 100: 59
Airbus A320-200: 73
Airbus A330-200: 1 1
Airbus A330-300: 2 1
Boeing 747-400: 16
Boeing 757-200: 55
Boeing 757-300: 16
Boeing 787-8: Order 18, select 50.
McDonnell Douglas DC-9: 30: 42
McDonnell Douglas DC-9-40: 1 1 McDonnell Douglas DC-9-50: 341991DC-9 Boeing 727-25 1 2003 A3 19.
Boeing 727-1511DC-9 Boeing 727-25 1 2003 A3 19, a333 Boeing 747-15120000.