Northwest shareholders approve merger

Washington DC
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Northwest Airlines stockholders voted in favour of the proposed merger with Delta Air Lines today during an annual meeting in New York City.

More than 98 percent of the shares voted supported the merger.

Delta stockholders also consider the tie-up today.

The combined carrier, which will operate under the Delta brand, predicts annual synergies of at least $2 billion, which will be ramped up in 2012, and integration costs of about $600 million spread over three years.

"We anticipate regulatory approval from the Department of Justice by year-end, but we are already well down the path of integration planning to create the world's premier global airline-one that will offer our customers the benefit of an end-to-end network and membership in the world's largest frequent flyer program," Northwest Airlines President and CEO Doug Steenland says in a statement.

Stockholders also re-elected the twelve current directors on the Northwest Board.