Airlines are having their best day in years today as the Wall Street Journal is reporting that Delta'smanagement is asking the board of directors to give the go-ahead for merger discussion with Northwest and UAL, and eventually choose between the two.
Northwest up 24 percent, Continental up 21 percent, United up 20 percent, US Air up 15 percent, Delta up 14 percent.
Kudos to UBS, who put out a note yesterday outlining exactly this deal.
