Northwest Airlines reported a first quarter 2008 net loss of $4.1 billion

, due primarily to "a non-cash goodwill impairment charge of $3.9 billion" stemming from "the impact of current high fuel prices, Northwest's recent stock price, other industry trends and the equity value of Northwest implied by the recent merger announcement" with Delta Air Lines. Excluding all special items, the company swung to a $191 million net loss from a $73 million net profit a year earlier.