Northwest Airlines reported a $4.14 billion first-quarter net loss yesterday owing to a noncash goodwill impairment charge of $3.93 billion necessitated after it "compared the carrying value of its equity and the fair value" and similar to the one incurred by merger partner Delta Air Lines (see story above). NWA lost $292 million in the year-ago quarter. "We considered the impact of current high fuel prices, Northwest's recent stock price, other industry trends and the equity value of ...

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