**Exhibit 12.2**

 

**NORTHWEST AIRLINES CORPORATION**

**COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ANDPREFERRED STOCK REQUIREMENTS**

**(Dollars in millions)**

 
|                                                                     |   | **Three months ended** |       | **Six Months Ended** |       |
|--------------------------------------------------------------------------|--------|------------------------|------------|----------------------|------------|
|                                                                     |   | **June 30**            |       | **June 30**          |       |
|                                                                     |   | **2003**               |       | **2002**             |       | **2003** |   | **2002** |   |
| **Earnings:**                                                            |   |                   |       |                 |       |   |   |   |   |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| Income before income taxes                                               |   | $                      | 227        |                 | $          | (141 | ) | $ | (199 | ) | $ | (402 | ) |
| Less:  Income from less than 50%owned investees                     |   | 5                      |       | 12                   |       | 14 |   | 25 |   |
| Add:                                                                     |   |                   |       |                 |       |   |   |   |   |
| Rent expense representative of interest (1)                              |   | 63                     |       | 63                   |       | 126 |   | 122 |   |
| Interest expense net of capitalized interest                             |   | 108                    |       | 96                   |       | 213 |   | 186 |   |
| Interest of mandatorily redeemablepreferred security holder              |   | 6                      |       | 7                    |       | 12 |   | 12 |   |
| Amortization of debt discount and expense                                |   | 6                      |       | 4                    |       | 11 |   | 8 |   |
| Amortization of interest capitalized                                     |   | 2                      |       | 2                    |       | 5 |   | 3 |   |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| **Adjusted earnings**                                                    |   | $                      | 407        |                 | $          | 19 |   | $ | 154 |   | $ | (96 | ) |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| **Fixed charges and preferred stock requirements:**                      |   |                   |       |                 |       |   |   |   |   |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| Rent expense representative of interest (1)                              |   | $                      | 63         |                 | $          | 63 |   | $ | 126 |   | $ | 122 |   |
| Interest expense net of capitalized interest                             |   | 108                    |       | 96                   |       | 213 |   | 186 |   |
| Interest of mandatorily redeemablepreferred security holder              |   | 6                      |       | 7                    |       | 12 |   | 12 |   |
| Preferred stock requirements                                             |   | **—**             | ** ** | **—**           | ** ** | **—** | ** ** | **—** |   |
| Amortization of debt discount and expense                                |   | 6                      |       | 4                    |       | 11 |   | 8 |   |
| Capitalized interest                                                     |   | 2                      |       | 6                    |       | 5 |   | 13 |   |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| **Fixed charges and preferred****stock requirements**                    |   | $                      | 185        |                 | $          | 176 |   | $ | 367 |   | $ | 341 |   |
|                                                                     |   |                   |       |                 |       |   |   |   |   |
| **Ratio of earnings to fixed charges and preferred  stock requirements** |   | 2.19                   |       | —               | (3)        | — | (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 and preferred stock requirements by $213million for the six months ended June 30, 2003.

 

(3)                                  Earningswere inadequate to cover fixed charges and preferred stock requirements by $157million and $437 million for the three and six months ended June 30, 2002,respectively.

 

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