Originally Posted by Carl Spackler

Mike,

If it is all the same to you, I'd prefer to do it right here so that the Delta guys who are interested can hear the history as well.

So let's begin. In 1986 Northwest Airlines and Republic Airlines had roughly the same number of pilots. Northwest fleet consisted of 747-400, 747-200, DC-10, 757, and 727. Republic fleet consisted of 757, 727 and a very large number of DC-9's. NWA purchased Republic for 880 million in cash for 100% of the company's shares. Pre merger price of Republic stock was 4 dollars per share. Purchase price was 16 dollars per share.