NORTHWEST AIRLINES TO ACQUIRE 52 NEW AIRCRAFT

Major Fleet Renewal Includes A330s, B757s to Replace DC10s

Northwest Airlines announced today that it will acquire 24 Airbus A330-300 aircraft, 20 Boeing B757-300 aircraft, two B747-400s and six A319s.

The A330s will operate across the Atlantic and will replace the DC10-30 aircraft currently operating in that market. The B757s will replace the airline’s DC10-40s that currently operate domestically. Deliveries of the A330s will begin in 2003 and continue through 2006; deliveries of the B757s will begin in 2002 and continue through 2004; the A319s and B747s will be delivered in 2002.

“These new aircraft are an important part of our commitment to our customers and our people,” said John Dasburg, Northwest president and chief executive officer. “With this order, we are continuing our investment in our people, in our hubs and other facilities, in new technologies and new aircraft to provide our customers with the most convenient and reliable service.”

“The operating economics of these aircraft are very good for the route structure we operate,” said Mickey Foret, Northwest executive vice president and chief financial officer. “This order provides us with an excellent replacement strategy for our trans-Atlantic operations and also positions us to take advantage of future growth opportunities both domestically and internationally. In addition, these aircraft help in our efforts to simplify our fleet as both the A330 and the B757 will provide us with reduced maintenance and training costs.”

The A330s will be used in Northwest’s trans-Atlantic operations, the B757s and A319s in its domestic system and the B747s will be used in the airline’s Pacific division. Northwest will retire its DC10-40 fleet beginning in 2002 and continuing through 2004. The airline also currently operates 24 DC10-30s, primarily in its trans-Atlantic system, and plans to retire some of those aircraft and to transition the remainder to its domestic system.

As part of the transaction, Northwest has obtained attractive financing support from the manufacturers, offering Northwest flexibility in future financing alternatives.

Northwest will record a non-recurring pre-tax impairment charge of $125 million in the 4th quarter of 2000 to write down the retired aircraft and related spare parts to their estimated fair market value.

Today’s announcement includes the reconfirmation and rescheduling of existing aircraft orders with The Boeing Company and Airbus Industrie. Specifically, the Company’s previous commitment to acquire 16 A330 aircraft remains outstanding but is cancelable by Northwest and as part of the Company’s B757-300 order, the Company’s previous commitment to acquire B757-200 aircraft beginning in 2006 has been cancelled. Two of the B757-300 order are subject to reconfirmation and Northwest has the right to convert some of its later B757-300 deliveries to 757-200 aircraft.

About the A330-300

Northwest will configure the A330-300 with 302 seats, 34 of which will feature Northwest’s recently redesigned 60” World Business Class product. The aircraft has a maximum full passenger range of 4,700 nautical miles and maximum take-off weight of 513,700 pounds, well-matched for Northwest’s Atlantic operations from its hubs in Detroit, Minneapolis/St. Paul and Memphis.

The A330-300 has excellent cargo capability with capacity for 32 LD3 containers. In addition, the A330 possesses similar cockpit, systems and handling characteristics to Northwest’s existing A319/A320 Airbus fleet, which will result in reduced training and maintenance expense.

The A330s will provide Northwest up to 30% in fuel savings over the DC10s they will replace. The Airbus A330s will be powered by Pratt & Whitney PW4168A engines.

About the B757-300/-200

Northwest will configure the 757-300 with 223 seats in two-class service, taking full advantage of the 757-300’s new spacious passenger cabin interior. The aircraft has maximum full passenger range of 3,100 nautical miles and maximum take-off weight of 272,500 pounds, sufficient to meet the requirements of Northwest’s domestic mission.

The 757-300 has the lowest seat-mile operating cost of any single-aisle airplane currently on the market. The 757-300 also shares a common flight deck and operating systems with Northwest’s existing 757-200 aircraft, which will reduce training time and costs as well as maintenance expense.

Northwest currently operates 48 B757-200 aircraft. The B757-200s have a maximum full passenger range of 2,600 nautical miles and carry 194 passengers.

The Boeing B757-200s are powered by Pratt & Whitney PW2037 engines and the –300s by Pratt & Whitney PW2040 engines.

About the A319-100

Northwest was the North American launch customer for the single-aisle A320 in 1986 and currently operates a fleet of 90 A320 family aircraft, including A319s and A320s. Sharing the same cockpit, systems and handling characteristics, operators of both the A319 and A320 can benefit from significantly reduced training and maintenance costs. The A319 has a maximum full passenger range of 2,300 nautical miles and seats 124 passengers. The A319s will be powered by General Electric CFM56-5-A5 engines.

About the B747-400

Northwest was the worldwide launch customer of the B747-400 and currently operates a fleet of 47 B747 aircraft, including 14 B747-400s. The B747-400 is an ideal Pacific aircraft for Northwest as the unparalleled combination of range (6,600 nautical miles with full passenger capacity of 418 seats) results in superior operating economics. The B747s will be powered by Pratt & Whitney PW4056 engines.

About Pratt & Whitney Engines

The PW4000 family of engines reached a major milestone in December 2000, completing 50 million hours of service on seven different types of wide body aircraft with thrust requirements from 52,000 pounds to 98,000. The PW4168, developed expressly for the A330, has secured more than half of all engine orders for that aircraft against its two competitors. The PW2000 pioneered many of the innovations that today are used on almost all commercial engines such as digital electronic engine controls. The PW2000 military model, the F117, powers the U.S. Air Force C-17 strategic air lifter.

Northwest Airlines is the world’s fourth largest airline offering more than 2,600 daily departures with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam. With its travel partners, Northwest serves more than 750 cities in more than 120 countries on 6 continents. Based on statistics compiled by the U.S. Department of Transportation, Northwest was the most on-time U.S. airline among the seven largest network carriers for the period 1990-1999. Northwest is the 2000 recipient of Air Transport World Airline Technology Management Award. Northwest’s WorldPerks frequent flyer program is the highest rated U.S.-based program reviewed by InsideFlyer Magazine, the leading authority on airline free travel programs, and received the special “Industry Impact Award” during InsideFlyer’s 12th Annual Freddie Awards. Northwest’s nwa.com was chosen as best airline web site by Gomez Advisors for Summer 2000 and was judged best in the best airline web site category for both business and leisure travelers.