Delta-Northwest Merger Would Be Third Airline Tie-Up Since 2000

Delta Air Lines Inc. and Northwest Airlines Corp. are trying to pull off just the third successful combination of major U.S. carriers since 2000. Two other bids to create the world's largest airline fell through.

The Delta-Northwest tie-up has a good chance of success because it was a negotiated arrangement, not a hostile takeover; the airlines' route systems don't overlap significantly; and federal regulators may be more open to combinations than in the past, analysts said before the deal was announced late yesterday.