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Company Watch - Northwest Airlines.

May 14, 2007

Mesaba Airlines reported Tuesday that traffic for April was down significantly. The wholly owned subsidiary of Northwest Airlines Corp. , flew 71.2 million available seat miles in April, down 60.9 percent year over year. An available seat mile means one seat flown one mile, whether the seat is occupied or not. May 8, 2007

Northwest Airlines said yesterday that preliminary results indicate 96.9% of its creditors, comprising 98.4% of the dollar value of claims, voted to approve its plan of reorganization, clearing the way for the carrier's emergence from bankruptcy next month. Final voting results will be filed this week with the US Bankruptcy Court, which will hold a confirmation hearing May 16. May 10, 2007

Northwest executives, pilots lobby to keep retirement age at 60 The CEO of Northwest Airlines and the head of the Air Line Pilots Association say they oppose a legislative proposal to change the current retirement age for commercial pilots. The proposal would raise the retirement age from 60 to 65. May 9, 2007

Northwest Airlines said Wednesday that its plan of reorganization has been approved by creditors, according to the results of a preliminary tally. The unofficial tally indicates that 96.9% of the airline's creditors who voted, representing 98.4% of the dollar amount of the claims that voted, approved the Northwest plan, the Eagan, Minn.-based carrier said. The final voting results will be filed late this week with the U.S. Bankruptcy Court for the Southern District of New York, the court overseeing Northwest's restructuring, the company said. A confirmation hearing on the airline's plan of reorganization is scheduled to begin on May 16. May 9, 2007

Unions reject plans for Northwest Airlines. The reorganization plan proposed by Northwest Airlines has been rejected by the carrier's three biggest unions, who say the plan that gives executives nearly 5% of the company is too expensive. Objections were raised after Northwest announced plans to give CEO Doug Steenland $26.6 million in restricted stock shares and options. May 8, 2007

After coming off a bankruptcy, Northwest Airlines hopes to get back on the New York Stock Exchange. The company will be listed as NWA and hopes to list its common stock in June. The carrier filed for bankruptcy on Sept. 14, 2005. May 8, 2007

Northwest CEO May Get Millions Of Dollars In Stock. Northwest Airlines Chief Executive Doug Steenland could get millions of dollars worth of restricted stock and stock options in the airline when it emerges from bankruptcy, according to a court document. Based on information from company filings, Northwest shares could be priced at about USD$27. Steenland is expected to receive 729,091 shares of restricted stock as well as options on 486,061 shares, according to the court filing on Friday. May 7, 2007

Northwest Airlines flew 6.52 billion consolidated RPMs in April, a 0.1% decline from the year-ago month. Capacity rose 0.5% to 7.8 billion ASMs and load factor fell 0.5 point to 83.7%. Domestic traffic lifted 0.8%, capacity climbed 0.7% and load factor remained at 84.3%. International traffic grew 0.9%, capacity was up 2.8% and load factor was down 1.6 points to 84.3%. May 7, 2007

Airlines add fees for services that were complimentary Airlines often charge for services that were once complimentary, writes David Lazarus in the San Francisco Chronicle. Northwest Airlines, for example, charges travelers to reserve an aisle seat, and Delta Air Lines now charges coach travelers to watch movies. May 7, 2007

Unions Object to Northwest Chapter 11 Plan Because of Management Payout The three biggest unions at Northwest Airlines Corp. objected to its reorganization plan on Monday, saying its plan to give executives almost 5 percent of the company is too expensive. May 7, 2007

Northwest Airlines said Monday it has requested that its stock be listed on the New York Stock Exchange under the ticker NWA. May 7, 2007

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May 7, 2007
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Publication:Airguide Online
Date:May 14, 2007
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