Pilot groups report 6.9% stake in Delta following merger with Northwest

By Lisa Kerner

Charlotte, N.C., Nov. 13 - Athena Advisory Group, LLC and Air Line Pilots Association, International reported the total number of shares issuable under the June 26 transaction framework agreement in conjunction with the merger of Delta Air Lines, Inc. and Northwest Airlines, Inc. completed on Oct. 29.

According to schedule 13D/As filed with the Securities and Exchange Commission, the total number of Delta pilot shares issuable is 29,497,912, the total number of Northwest pilot shares is 20,058,580 and the combined total of pilot shares is 49,556,492.

As a result, the Air Line Pilots Association and Athena Advisory Group, LLC beneficially own 6.9% of the outstanding common stock of the combined company.

In April, Atlanta-based Delta and Eagan, Minn.-based Northwest announced plans to merge in an all-stock transaction with a combined enterprise value of $17.7 billion.

Northwest stockholders received 1.25 Delta shares, valued at $9.99 based on Delta's Wednesday closing stock price, for each Northwest share they own. The merger closed on Oct. 29.

The new airline will be called Delta and will be based in Atlanta, it was previously reported.

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