Northwest Airlines today announced that its treasury team, led by Daniel Matthews, senior vice president and treasurer, was named Treasury Team of 2002 by United Kingdom-based Airfinance Journal.
“At the moment, the U.S. airline market is without doubt the toughest market in the world, but Dan and his team at Northwest have overcome these challenges,” said Alasdair Whyte, Airfinance Journal editor. “Not only has Northwest held the most cash out of all the majors since September 11, 2001, but the airline also has tapped many different sources of finance.”
Last year, Northwest issued the only unsecured U.S. airline bond, completed the airline’s largest ever enhanced equipment trust certificate issues, closed various U.S. leases and airport bonds and financed more aircraft deliveries than any year in the airline’s history.
Northwest received the honor at the journal’s recent awards dinner in New York. Airfinance Journal, in publication since 1980, is the commercial aviation market’s leading financial magazine.
“We at Northwest are honored that the industry has recognized the hard work being done by our treasury team to help guide this airline through these difficult economic times,” said Matthews.
Northwest Airlines is the world`s fourth largest airline with hubs at Detroit, Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and approximately 1,500 daily departures. With its travel partners, Northwest serves nearly 750 cities in almost 120 countries on six continents. In 2002, consumers from throughout the world recognized Northwest’s efforts to make travel easier. A 2002 J.D. Power and Associates study ranked airports at Detroit and Minneapolis/St. Paul, home to Northwest’s two largest hubs, tied for second place among large domestic airports in overall customer satisfaction. Business travelers who subscribe to OAG print and electronic flight guides rated nwa.com as the best airline Web site. Readers of TTG Asia and TTG China named Northwest “Best North American airline.”
For more information pertaining to Northwest, media inquiries can be directed to Northwest Media Relations at (612) 726-2331 or to Northwest’s Web site at www.nwa.com