In what could be the first swell in a wave of airline consolidations Delta Air Lines is set to merge with Northwest Airlines, creating the world's biggest airline with a value of about $17.7 billion. The new airline will operate under Delta's flag with more than $32 billion in annual revenue and about 75,000 employees.

The move, which still faces probable Department of Justice approval, is meant to help stave off the effects of increasing fuel prices and competitive pressures in a weak economy.

Both carriers rank among the top 10 of Air Transport Association leading U.S. domestic cargo carriers. The hope of the carriers - and the concern of shippers and forwarders - is that fewer, larger airlines will be able to control capacity and boost prices.

Michael Fabey/Traffic World