The highly expected and much anticipated $17.7 billion merger between Delta Airlines Inc. and Northwest Airlines was completed.

The two air carriers which merged into the world’s largest airline announced the reaching of the deal at about 8 a.m. ET, April 14.

The merger enables the giant carrier to weather the pressures of rising fuel costs. The new airline will post revenue of about $35 billion and will have approximately 75,000 employees. It will have a fleet of about 800 airplanes which will carry passengers to more than 390 destinations in 67 countries.

The merger will also enable the company to provide employees with greater job security, an equity stake in the combined airline, and a more stable platform for future growth in the face of significant economic pressures," Delta and Northwest said in the statement announcing their merger.

Delta CEO Richard Anderson will keep his position as CEO of the new Delta. Delta Chairman of the Board Daniel Carp will be named chairman of the new board, while Northwest Chairman Roy Bostock will become vice chairman and Delta's Ed Bastian will be president and chief financial officer.

The new Delta board will have 13 members including one director from the Air Line Pilots Association.

"We said we would only enter into a consolidation transaction if it was right for all of our constituencies; Delta and Northwest are a perfect fit," Anderson said.
The new airline company will have executive offices in Atlanta (also the company’s world headquarters), Minneapolis/St. Paul and New York, and its international executive offices will be in Amsterdam, Paris and Tokyo.

In the merger-related statement, the company also underlined that the customers will benefit from this move. Even the small U.S. communities will now be able to travel to many more destinations worldwide due to combined carriers' complementary route networks.