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COMMENTS: ConsolidAir
As predicted Monday, Delta Airlines and NorthWest Airlines announced that they planned to merge to form the world's largest fleet. NBC's Tom Costello covered their insistence that "there are no plans to close hubs or lay off frontline employees." ABC's Lisa Stark (embargoed link) warned that "it is far too early" for the airlines to celebrate as the Justice Department must approve the deal and Congress is planning hearings. Stark noted both United and Continental issued statements that they are considering consolidation in response. Both Costello's inside-industry sources and Stark's concurred that ticket prices must rise as a result.
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