**Exhibit 12.1**

 

**NORTHWEST AIRLINES CORPORATION**

**COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES**

**(Dollars in millions)**

 
| ** **                                                    | ** ** | **Three months ended  September 30** | ** ** | **Nine months ended  September 30** | ** ** |
|---------------------------------------------------------------|------------|--------------------------------------|------------|-------------------------------------|------------|
| ** **                                                    | ** ** | **2004**                             | ** ** | **2003**                            | ** ** | **2004** | ** ** | **2003** |   |
| **Earnings:**                                                 |       |                                 |       |                                |       |   |   |   |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| Income (loss) before income taxes                             |       | $                                    | (38        | )                                   | $          | 47 |   | $ | (436 | ) | $ | (152 | ) |
| Income from less than 50% owned investees                     |       | (3                                   | )          | (1                                  | )          | (5 | ) | (15 | ) |
| Rent expense representative of interest (1)                   |       | 62                                   |       | 62                                  |       | 187 |   | 188 |   |
| Interest expense net of capitalized  interest                 |       | 125                                  |       | 111                                 |       | 367 |   | 324 |   |
| Interest of mandatorily redeemable  preferred security holder |       | —                               |       | 7                                   |       | — |   | 19 |   |
| Amortization of debt discount and expense                     |       | 8                                    |       | 6                                   |       | 23 |   | 17 |   |
| Amortization of interest capitalized                          |       | 2                                    |       | 3                                   |       | 6 |   | 8 |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| **Adjusted  earnings**                                        |       | $                                    | 156        |                                | $          | 235 |   | $ | 142 |   | $ | 389 |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| **Fixed  charges:**                                           |       |                                 |       |                                |       |   |   |   |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| Rent expense representative of interest (1)                   |       | $                                    | 62         |                                | $          | 62 |   | $ | 187 |   | $ | 188 |   |
| Interest expense net of capitalized  interest                 |       | 125                                  |       | 111                                 |       | 367 |   | 324 |   |
| Interest of mandatorily redeemable  preferred security holder |       | —                               |       | 7                                   |       | — |   | 19 |   |
| Amortization of debt discount and expense                     |       | 8                                    |       | 6                                   |       | 23 |   | 17 |   |
| Capitalized interest                                          |       | 2                                    |       | 2                                   |       | 6 |   | 7 |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| **Fixed  charges**                                            |       | $                                    | 197        |                                | $          | 188 |   | $ | 583 |   | $ | 555 |   |
|                                                          |       |                                 |       |                                |       |   |   |   |   |
| **Ratio of  earnings to fixed charges**                       |       | —                               | (2)        | 1.25                                |       | — | (2) | — | (3) |

 

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**(1)****        **Calculated asone-third of rentals, which is considered representative of the interestfactor.

 

**(2)**         Earningswere inadequate to cover fixed charges by $41 million and $441 million for thethree and nine months ended September 30, 2004, respectively.

 

**(3)****        **Earnings wereinadequate to cover fixed charges by $166 million for the nine months endedSeptember 30, 2003.

 

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