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.
Events To Highlight Industry Collaboration For Reaching The Planet Mars Leaders from the aerospace community held a press conference at EAA AirVenture on Monday to get the word out>[...]
OSH2014 Sponsor: Aspen Avionics Aspen Avionics specializes in bringing the most advanced technology and capability into general aviation cockpits. Our products increase situational>[...]
Meet Jim Campbell, TODAY/07.28, At EAA Wearhouse, Author's Corner, At 1500 And Get Your Signed Copy of Beyond The Blue!!! To Aviation Journalist and experienced Test Pilot, Jim Cam>[...]
ConciAir Is Here To Return Our Industry To Service! The name ConciAir is a play on the word "concierge", and our goal is to be able to accomplish any task placed before us in a tim>[...]
The Eclipse 550: Economical. Efficient. Incredible. The Eclipse 550 not only has the lowest acquisition cost of any twin-engine jet on the planet, it also has the lowest operating >[...]