Sat, Apr 20, 2013
Move Streamlines The Regional Carrier's Operations And Costs
Pinnacle Airlines expects it will have emerged from bankruptcy by May 1, and when it does, it will be a unit of Delta Airlines.
Under the agreement, Pinnacle will phase out its smaller airplanes and nearly double the number of larger planes it flies for Delta. It will also cut the number of routes it flies for the legacy carrier, retaining only those that are most profitable.
In return, Delta will waive fees the regional carrier would normally have to pay to return the smaller airplanes to the larger airline.
Dow Jones Newswires reports that Delta will also place $2.25 million in a trust to pay Pinnacle's unsecured creditors and unions. That money will be distributed when the claims are finalized.
Pinnacle used the bankruptcy to negotiate new deals with its unions that led to deep concessions from the labor groups. While it had flown in the livery of several different airlines, it now has Delta as its only client.
Pinnacle filed for Chapter 11 Bankruptcy last April. It recently announced that it would be moving its headquarters from Memphis, TN to Minneapolis, MN.
'Yellow Balls' Discovered By Volunteers Studying Spitzer Images Sometimes it takes a village to find new and unusual objects in space. Volunteers scanning tens of thousands of star>[...]
"While this star formed a long time ago, in fact before most of the stars in the Milky Way, we have no indication that any of these planets have now or ever had life on them. At th>[...]
Final Approach Fix The fix from which the final approach (IFR) to an airport is executed and which identifies the beginning of the final approach segment. It is designated on Gover>[...]
New Global Air Ambulance Research Report Shows Projected Growth Of Nearly Ten Percent The Global Air Ambulance market is expected to grow at a CAGR (Compound Annual Growth Rate) of>[...]
Long-Range Sensor System Demonstrated Production Readiness On Super Hornet The F/A-18 Super Hornet infrared search and track (IRST) system, developed and integrated by Boeing and L>[...]