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.
The Company That Won't Answer Questions, May Finally Have To Do So ANN has been bombarded with info and reports concerning the health and well-being of the Icon Aircraft program...>[...]
Also: B-29 Doc Airworthy, Aero-Calendar, Charles Taylor, Boeing-Vietjet, Flexjet Buy, Indian Mini-Shuttle, 777X Composite Wing Center Textron Aviation has finally revealed further >[...]
Make The ‘EAA Four Corners’ Your First Stop At EAA AirVenture Oshkosh 2016 Even for those of us who have attended EAA AirVenture many times, when you first walk onto th>[...]
The Medallion Foundation The Medallion Foundation, a non-profit aviation safety organization, embraces mentors and advocates for all aspects of aviation: Student pilots to airline >[...]
A display indication given to the pilot by the traffic alert and collision avoidance systems (TCAS II) recommending a maneuver to increase vertical separation relative to an intrud>[...]