Originally Posted by alfaromeo

The stock was placed in our 401K accounts and is immediately tradeable. I still have my shares and their value is north of $60,000 right now. (your mileage will vary depending on the shares rising and falling of course) Like any other asset in your 401K you won't be able to pay the mortgage with it unless you pay Uncle Sam some penalties.

The stock split was done half by equal shares and half by a seniority system.

Overall the entire merger has been a success for the Delta pilots. South pilots got about 20% in raises over 4 years and North pilots about 30%. We all have a better DC plan now. The stock is worth whatever you trade it at, but even if you traded it today the most junior pilot would probably net more than $45,000, which is not a bad howdy-do for pilots that were hired just months before the merger. Delta did not furlough last year and it looks like they may start hiring again before the end of the year. (economy, terrorism, etc. can ruin it all in a day)

The key for us in the merger was that we saw a way to add value to the corporation by facilitating and accelerating the merger synergies and then we got a piece of the pie for our troubles. Pilots can't stop a merger so they might as well get on board and get all you can in the process.