After eight months of deliberation, CAB last week approved a deal which will make Delta Air Lines the sixth biggest (in route mileage) in the U.S. Subject to stockholders' approval, Delta will swap $10 million in new, convertible debentures for all the outstanding common stock in Chicago & Southern. The merged company, to be known as Delta-Chicago & Southern, will have 6,474 miles of routes through the South and Midwest, plus another 3,034 (now owned by C. & S.) to Cuba, Puerto Rico, Jamaica and Venezuela.
For Delta's President Collett Everman Woolman, 63, who will boss the new line, the...
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