Both Delta Airlines and Northwest posted significant losses due to a sharp increase in fuel costs. $6.1 billion of Delta's total loss of $6.39 billion was due to a non-cash charge related to accounting for its exit from Chapter 11.

Delta and NorthWest Air Lines announced today that they are merging to create the world's largest airlines, which will be called Delta Air Lines and will help offset record oil prices, creating stronger global airline to compete in Open Skies. Delta pilot leadership also reached an agreement on post-merger contract.

Pre-tax profit of $273 million, excluding reorganization items

On May 31st, Northwest Airlines Corporation rang The Opening BellSM at the New York Stock Exchange, a subsidiary of NYSE Euronext (NYSE: NYX), to celebrate the company's listing on the NYSE and emergence from bankruptcy.

Northwest Airlines Corporation (OTC: NWACQ.PK) today reported a first quarter 2007 pre-tax profit of $100 million before reorganization items which compares to a first quarter 2006 pre-tax loss of $129 million before reorganization items. Including reorganization items, Northwest Airlines reported a first quarter 2007 net loss of $292 million versus a $1.1 billion net loss for the first quarter of 2006.