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Pinnacle Air In Financial Trouble; Shares Plunge   
User currently offlinedsuairptman From United States of America, joined Jul 2003, 905 posts, RR: 0
Posted (3 years 2 weeks 5 days 19 hours ago) and read 20889 times:

http://www.bizjournals.com/memphis/n...hires-help-to-boost.html?ana=yfcpc

Sounds like a warning flag to sell the stock before the Ch. 11 filing.


GEAUX SAINTS!
156 replies: All unread, showing first 25:
 
User currently offlineblueflyer From Northern Mariana Islands, joined Jan 2006, 4193 posts, RR: 2
Reply 1, posted (3 years 2 weeks 5 days 18 hours ago) and read 20837 times:
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Pinnacle's choice of law firm certainly is interesting. Davis Polk & Wardwell... aka Frontier Airlines' principal counsel during their bankruptcy proceedings.

Davis Polk & Wardwell do a lot more than just bankruptcies, but it is nevertheless something worth watching closely.

[Edited 2011-12-08 14:41:07]


I've got $h*t to do
User currently offlineLAXintl From United States of America, joined May 2000, 26170 posts, RR: 50
Reply 2, posted (3 years 2 weeks 5 days 18 hours ago) and read 20780 times:

You guys realize the CEO of Pinnacle is Sean Menke of Frontier fame.


Issues surrounding Pinnacle have been building for a while, and now are at the point of producing quarter after quarter of losses and draining down the cash position.

Clearly some significant adjustments are called for.



From the desert to the sea, to all of Southern California
User currently offlinethegoldenargosy From United States of America, joined Sep 2010, 401 posts, RR: 0
Reply 3, posted (3 years 2 weeks 5 days 18 hours ago) and read 20664 times:

Quoting LAXintl (Reply 2):
Issues surrounding Pinnacle have been building for a while

Was the decision to buy Colgan & Mesaba a bad idea?


User currently offlinedsuairptman From United States of America, joined Jul 2003, 905 posts, RR: 0
Reply 4, posted (3 years 2 weeks 5 days 18 hours ago) and read 20667 times:

Quoting LAXintl (Reply 2):
Issues surrounding Pinnacle have been building for a while, and now are at the point of producing quarter after quarter of losses and draining down the cash position.

I've heard they would like to merge ops into a single certificate and also lessen the lease terms on the 200s. There is also talk that they are highly overstaffed in management positions.



GEAUX SAINTS!
User currently offlineblueflyer From Northern Mariana Islands, joined Jan 2006, 4193 posts, RR: 2
Reply 5, posted (3 years 2 weeks 5 days 17 hours ago) and read 20577 times:
Support Airliners.net - become a First Class Member!

Quoting LAXintl (Reply 2):
You guys realize the CEO of Pinnacle is Sean Menke of Frontier fame.

Nope, didn't know that. Very enlightening.



I've got $h*t to do
User currently offlineairportugal310 From United States of America, joined Apr 2004, 3719 posts, RR: 2
Reply 6, posted (3 years 2 weeks 5 days 16 hours ago) and read 20436 times:

I was just talking to my buddy who flies the Saab at Colgan and he is all afraid that company is going the way of Comair...

I'm not too sure what entails...thoughts?



I sell airplanes and airplane accessories
User currently offlineTOLtommy From United States of America, joined Dec 2003, 3308 posts, RR: 5
Reply 7, posted (3 years 2 weeks 5 days 16 hours ago) and read 20365 times:

Pinnacle signed a new agreement with Delta a few years ago when they bought Mesaba. I don't know if they've negotiated new contracts with UA/CO and US since they purchased Colgan. In the past, the Delta agreement became amendable if the regional carrier filed Ch11. Filing could open a can of worms for Pinnacle Corp and could wind up costing them contracts altogether, especially since most of the fleet on the Delta side is subleased from DL.

User currently offlinesunking737 From United States of America, joined Feb 2005, 2058 posts, RR: 9
Reply 8, posted (3 years 2 weeks 5 days 16 hours ago) and read 20345 times:

Quoting thegoldenargosy (Reply 3):
Quoting LAXintl (Reply 2):
Issues surrounding Pinnacle have been building for a while

Was the decision to buy Colgan & Mesaba a bad idea?

I would say a, YES



Just an MSPAVGEEK
User currently offlinedsuairptman From United States of America, joined Jul 2003, 905 posts, RR: 0
Reply 9, posted (3 years 2 weeks 5 days 14 hours ago) and read 20116 times:

Quoting TOLtommy (Reply 7):

Pinnacle signed a new agreement with Delta a few years ago when they bought Mesaba. I don't know if they've negotiated new contracts with UA/CO and US since they purchased Colgan. In the past, the Delta agreement became amendable if the regional carrier filed Ch11. Filing could open a can of worms for Pinnacle Corp and could wind up costing them contracts altogether, especially since most of the fleet on the Delta side is subleased from DL.

The ability to void contracts when a party files bankruptcy is usual boiler plate language in any contract. I'm not conveinced filing would nesseciarly end 9E DLX contract. It's true DL owns the planes, but taking them from 9E and subleasing them elsewhere wouldn't solve DL problem as they will still have them. They want to get rid of the 200s, but would have to have a pulldown schedule to do so and it would have to be planed, not occuring due to a regional bankruptcy, in order to be succesful.



GEAUX SAINTS!
User currently offlineboberito6589 From United States of America, joined Nov 2009, 359 posts, RR: 0
Reply 10, posted (3 years 2 weeks 5 days 14 hours ago) and read 20062 times:

Quoting TOLtommy (Reply 7):
I don't know if they've negotiated new contracts with UA/CO and US since they purchased Colgan.

The US contract is coming to an end December 23rd for Mesaba, and the random Colgan flying will be ending as soon as possible, with the one exception of CRW-DCA. I almost wonder if it would be better for Pinnacle to lease these slots to US, I think they'd be able to get more money that way instead of flying a half filled SAAB around. Will Colgan be the only regional who only operates 1 route for the major carrier?


User currently offlineDash8Driver16 From United States of America, joined Dec 2011, 95 posts, RR: 0
Reply 11, posted (3 years 2 weeks 5 days 12 hours ago) and read 19881 times:

Interesting. One question I have is what is happening to the Saabs? They are getting rid of all the US flying out of LGA which is around 6 airplanes. I am not sure when they will end Boston flying but it seems to be that there are quite a few Saabs that won't have anything to do?

The Bankruptcy filing is troublesome because they have so many different operating certificates how much is this going to effect the pilot group? I know Colgan was still doing some limited hiring but i would assume that that would end.

Maybe they will kill this route and PDT could pick it up.


User currently offlinefutureualpilot From United States of America, joined May 2000, 2608 posts, RR: 8
Reply 12, posted (3 years 2 weeks 5 days 11 hours ago) and read 19774 times:

Colgan will still have the United Saab flying, as well as e Q400 flying that would have been increased already had the entire company not been so understaffed.

Further, and I don't know all the facts but when the JCBA was signed with the pilot group, Delta agreed to pay a share of the costs associated with the increased price tag that would result from the contract as well as the huge training cycle currently underway at Pinnacle Corp, a payment due in early 2012.

As far as equipment, the Saabs make money less than half full. The EAS routes are money makers, the non EAS routes are almost always full or close to it, and the last word around was that United wanted to hang onto them for a while at least in Dulles and Houston. Mesaba's B+ models are still supposed to come over to Colgan to replace some of the older B models.

The schoolhouse has been told to pu an additional 150 pilots through n the Saab by May. Staffing is still short system wide.

As with anything it could all change at the drop of a hat. With the company being this open about asking for concessions one can surely bet things will change.

[Edited 2011-12-08 21:40:58]


Life is better when you surf.
User currently offlineTOLtommy From United States of America, joined Dec 2003, 3308 posts, RR: 5
Reply 13, posted (3 years 2 weeks 5 days 2 hours ago) and read 19529 times:

Quoting dsuairptman (Reply 9):
The ability to void contracts when a party files bankruptcy is usual boiler plate language in any contract. I'm not conveinced filing would nesseciarly end 9E DLX contract.

I agree, but it opens a door to terminate the contract that does not exist today.

Quoting dsuairptman (Reply 9):
It's true DL owns the planes, but taking them from 9E and subleasing them elsewhere wouldn't solve DL problem as they will still have them.

Again we agree, not sure DL can afford to simply park them either. I don't recall if they are leased or owned aircraft by DL.


User currently offlineFURUREFA From United States of America, joined Feb 2004, 808 posts, RR: 2
Reply 14, posted (3 years 2 weeks 4 days 22 hours ago) and read 19317 times:

Quoting TOLtommy (Reply 13):

Quoting dsuairptman (Reply 9):
It's true DL owns the planes, but taking them from 9E and subleasing them elsewhere wouldn't solve DL problem as they will still have them.

Again we agree, not sure DL can afford to simply park them either. I don't recall if they are leased or owned aircraft by DL.

What does DL own/lease? Is it the CR2s, CR7s, CR9s or a combination?

As an aside, does anyone know where the CR7s G7 will begin operating for DL next year are coming from? Are they from OH?


User currently offlineapodino From United States of America, joined Apr 2005, 4317 posts, RR: 6
Reply 15, posted (3 years 2 weeks 4 days 22 hours ago) and read 19036 times:

What a mess Phil Trennary left at Pinnacle. I don't see how Chapter 11 is avoidable. There is no way the unions are going to give concessions right after ratifying a new contract. The Mesaba boys are not going to cooperate, especially the FA's who got screwed as it is on this merger deal. Not to mention this company still has some 3407 issues that haven't been resolved and are not good from a PR standpoint.

The question I have is what impact would a Chapter 11 filing have? Arguably the only other DL connection partner who is in a position to pick up Pinacle flying would be Comair because they have pilots who could be recalled quickly and requalified in a timely manner. Given the costs at Comair though, that could only be a temporary solution. Some people may say Skywest could be in a position. I am not sure of that. Skywest has barely been breaking even themselves. Republic isn't in a position either because of their financial troubles.

But this also raises another question? What has happened to the regional model that the regionals cannot make money? Pinnacle is losing money and aside from the EAS flying almost all of their flying is fee per departure, which should be profitable. Skywest is the same way, and yet they barely broke even last quarter. RAH you can make an argument that F9 is killing their bottom line, but they also have issues with the Teamsters wanting a new contract. Those are the big three at the regional level. Mesa just came out of Chapter 11 and who knows how long they will last. TransStates and Air Wisconsin are privately held, so who knows how they are doing, but based on numbers that ALPA put out, Air Wisconsin is the most profitable regional operating at the moment, but who knows what their future holds beyond 2015.

I am going to keep a close eye on this because this will have major ramifications for the whole regional industry. If Pinnacle files Chapter 11 and imposes new contracts on labor, this is going to have a bad impact on both the Air Wisconsin and the Republic pilots who are negotiating new deals, and it will have a negative impact on the Expressjet guys in the quest for a joint contract with ASA, and over at OO, the pilots are not unionized so Jerry Atkin is in a major position of strength there.


User currently offlineKcrwflyer From United States of America, joined May 2004, 3847 posts, RR: 7
Reply 16, posted (3 years 2 weeks 4 days 21 hours ago) and read 18765 times:

Quoting boberito6589 (Reply 10):
The US contract is coming to an end December 23rd for Mesaba, and the random Colgan flying will be ending as soon as possible, with the one exception of CRW-DCA. I almost wonder if it would be better for Pinnacle to lease these slots to US, I think they'd be able to get more money that way instead of flying a half filled SAAB around.

If you've got data to see the load factor you should also take a peek at the yield on the o&d. That said, I'm sure US would love to have the route.

Quoting thegoldenargosy (Reply 3):
Was the decision to buy Colgan & Mesaba a bad idea?

Mesaba is a toss up, but I can't imagine why anyone would want Colgan.


User currently offlineLOWS From Austria, joined Oct 2011, 1192 posts, RR: 1
Reply 17, posted (3 years 2 weeks 4 days 19 hours ago) and read 18064 times:

Quoting Kcrwflyer (Reply 16):
Mesaba is a toss up, but I can't imagine why anyone would want Colgan.

Lots of UA flying?


User currently offlinefutureualpilot From United States of America, joined May 2000, 2608 posts, RR: 8
Reply 18, posted (3 years 2 weeks 4 days 18 hours ago) and read 17830 times:

Quoting Kcrwflyer (Reply 16):
Mesaba is a toss up, but I can't imagine why anyone would want Colgan.

9L operates 2 types that are proven money makers with less than 50% of the seats filled, and the name is going away. Colgan will cease to exist. In practice, and in name, it will be Mesaba. 9L already had to decline additional flying for the Q400s due to staffing issues over the summer.



Life is better when you surf.
User currently offlineFlyASAGuy2005 From United States of America, joined Sep 2007, 7004 posts, RR: 7
Reply 19, posted (3 years 2 weeks 4 days 18 hours ago) and read 17785 times:

Quoting TOLtommy (Reply 7):
Quoting FURUREFA (Reply 14):

DL owns all the original Mesaba CR9s inherited from NW. Pinnacle owns all 16 Atlanta based CR9s (PQ registrations).



What gets measured gets done.
User currently offlinebhmdiversion From United States of America, joined Dec 2008, 468 posts, RR: 0
Reply 20, posted (3 years 2 weeks 4 days 18 hours ago) and read 17713 times:

The employee conference call was held this morning.

Menke skirted the questions asked about the possibility of bankruptcy and concessions from all work groups (he specifically mentioned union and non-union work groups).

From the ones I know inside Pinnacle, this was very quick to be told to the group. 2 SVPs and 7 VPs are going to be let go (from what I have heard) and all other departments are going to reevaluate their staffing.

Menke also said that there are a lot of questions that they "cannot answer due to the uncertainity of what is going on". At no time during this call, did Menke inform the group how much $$$ was to be saved and what the EXACT calls for this situation were.

In a nutshell, SCREWED.

Good thing Trenary and Shockey get paid $$$ from their severance packages. The ones who are affected now will also be paid out. I have a feeling that they are bleeding cash, and cannot stop the flow.

Merry Christmas from Pinnacle Airlines Corp.


User currently offlinefutureualpilot From United States of America, joined May 2000, 2608 posts, RR: 8
Reply 21, posted (3 years 2 weeks 4 days 17 hours ago) and read 17629 times:

Quoting bhmdiversion (Reply 20):
Good thing Trenary and Shockey get paid $$$ from their severance packages. The ones who are affected now will also be paid out. I have a feeling that they are bleeding cash, and cannot stop the flow.

Their contracts must be honored yet the contract signed with the pilot group will come under fire. Feed those responsible to the dogs so those still working there can make an attempt at an honest wage. Pathetic.



Life is better when you surf.
User currently offlineFlyASAGuy2005 From United States of America, joined Sep 2007, 7004 posts, RR: 7
Reply 22, posted (3 years 2 weeks 4 days 16 hours ago) and read 17571 times:

Quoting FURUREFA (Reply 14):

The 12 CRJ700s are Delta owned and are currently operated by OO and EV. All the "CA" registered CR7s currently with ASA (8) and 4 from OO. Initial routes will be out of DTW.



What gets measured gets done.
User currently offlineGoldenshield From United States of America, joined Jan 2001, 6120 posts, RR: 14
Reply 23, posted (3 years 2 weeks 4 days 16 hours ago) and read 17499 times:

Quoting apodino (Reply 15):
Skywest has barely been breaking even themselves.
Quoting apodino (Reply 15):
Skywest is the same way, and yet they barely broke even last quarter.

The airlines actually made quite a bit of money---especially OO. The only reason the quarter looked thin was because of merger costs between EV and XE.



Two all beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun.
User currently offlinedsuairptman From United States of America, joined Jul 2003, 905 posts, RR: 0
Reply 24, posted (3 years 2 weeks 4 days 15 hours ago) and read 17449 times:

Quoting apodino (Reply 15):
Mesa just came out of Chapter 11 and who knows how long they will last. TransStates and Air Wisconsin are privately held, so who knows how they are doing, but based on numbers that ALPA put out, Air Wisconsin is the most profitable regional operating at the moment, but who knows what their future holds beyond 2015.

There is alot of bad blood between DL and YV over the demise of F8. I seriously YV would be considered for any flying DL put out for bid.

Trans States is something of a question mark. True Gojets is picking up some 700 flying, but would they go for 200s? All Gojet operates are 700s and TSA operartes the ERJ-145, so I'm not sure they would want to introduce the 200, (even sublet to them), to either cert.

ZW might be in good position. It would be for 200s, all sublet, so they wouldn't have to absorb financing additional AC for the flying and depending on the terms, it might give them business ending beyond the Airways contract. More of a win win here than the other two, IMHO.



GEAUX SAINTS!
25 TOLtommy : My question is about the -200's. The -900s and -700s are aircraft DL wants to keep in the fleet. The -200s are the planes they'd like to dump more of
26 n7371f : Before the merger with DL, Northwest leased all of the CRJ-200's and -440's and subleased them to Pinnacle. I am not privy to what happened after the
27 FlyASAGuy2005 : Okay I see. That I don't know. End strength numbers that I've seen over the past 3 months or so shows that they are on target and will be where they
28 Sean-SAN- : Pinnacle operates essentially as an employment agency with a very small but gaurenteeded profit margin based on normal operations. The problem is, wit
29 TOLtommy : That was mine as well, thanks. And that's why a CH11 filing is dangerous for 9E. DL has probably dumped all the 50 seat lift they could because the o
30 cbphoto : I wouldn't count on that by a long shot! Most of the Comair furloughs are long gone and many gave up their seniority numbers to get on with other reg
31 Post contains images LAXintl : For an idea of how things have turned south at Pinnacle here is their financial performance in recent years. 2009 – Profit $41.8mil / $126.8mil cash
32 bhmdiversion : I'd say they are bleeding cash right now and not afraid to let it be known. It still boggles my mind since MEM has not released to the employees how m
33 wingnutmn : Keep in mind, DL told Pinnacle Corp that they were going to buy XJ. That is why DL financed the purchase. All the rumors after the purchase centered a
34 bhmdiversion : There were more cuts that I heard on the Copr side yesterday. Anyone else heard anything?
35 Post contains images sunking737 : Rule #1 In a merger/buy out... "There will be no changes forth coming" Rule #2 After that announcement..Always, but Always re-due your resume. (unless
36 rdh3e : This was actually declined due to lack of aircraft from Bombardier was my understanding. BBD probably actually owes 9L a fair amount of money in comp
37 bhmdiversion : Welcome to my respected users list!
38 apodino : And the hits just keep on coming. Word came out yesterday that the senior VP of Operations has now resigned as well. This has all the appearances of a
39 airportugal310 : I would assume that based on previous history and forecasting, that this stuff shouldn't come as a total shock anymore these days. But, alas, I am no
40 bhmdiversion : You can google Memphis Business Journal and read about it there. This was part of the "cleaning" from the announcements last week. Correct me if I am
41 sunking737 : Boils down to not what you know, but also who you know. I have gotten into jobs that way. One job interview was like 5 min to meet my boss and starte
42 GentFromAlaska : If it can be fixed, he's the one that can do it. Menke has a remarkable resume
43 bhmdiversion : Did I miss something... didn't he run Frontier into the ground and now he's doing it to Pinnacle? I guess he's 2 for 2. Glad MEM knows what's best fo
44 dsuairptman : Menke didn't run F9 into the ground. It was the credit card processing agency they used that started withholding 100% of payment until the pax depart
45 bhmdiversion : From my perspective, the CEO should know the in's and out's of how the business is running and is the one who is RESPONSIBLE for everything that happe
46 mariner : Jeff Potter - not Porter - left when Sean Menke took over at Frontier. As for being "destroyed' - Frontier was profitable last quarter and they are a
47 m404 : I'm wondering what this will mean for the new big HQ that they are moving into in Memphis? Not to mention all the tax breaks/incentives the city gave
48 GentFromAlaska : As I recall Menke was at the helm a good year spear heading F9 exits from bankruptcy. Everything I read lead me to believe he was on the fast track e
49 bhmdiversion : One question - was he the CEO when they declared BK? The CEO position is responsible for ANYTHING and EVERYTHING a company does - good or bad.
50 GentFromAlaska : No argument there.
51 sunking737 : F9 had no choice but to file Chap 11 due to First Data actions of stupidity. They choked out F9 cash flow.
52 XT6Wagon : Yet, F9 was in real trouble before that. Straw and the camel's back and all that. There is a reason that F9 was sold off in a asset sale and didn't c
53 mariner : Several airlines were in trouble when the GFC hit and oil reached $147 a barrel - Aloha, for example. First Data panicked and demanded 150% holdback.
54 cbphoto : All I have to say to this is that you are focusing way to much on a small, specific aspect of the entire company. You HAVE to look at the bigger pict
55 Mir : Was it his decision to try that? Because it seems like the company was biting off a lot more than they could chew with that. -Mir
56 GentFromAlaska : I believe they call that "playing the cards dealt to you"
57 bhmdiversion : Based on what has happened the past month with Pinnacle, more news is headed out from MEM. Rumor has it, furlough notices will be hitting sooner than
58 apodino : The ACS job reductions are due to DL cutting the MEM hub, a factor completely out of Pinnacles control. And part of the problem here is the fact that
59 crj200faguy : Inherited or not, he is the face of this mess. I don't foresee a 3rd ceo ship in his future.
60 bhmdiversion : Trenary or not, the CEO is still the one who makes the determinations and has his leadership staff enforce it. True, he walked into this situation, BU
61 Post contains links KarlB737 : Courtesy: Bloomberg News Pinnacle Has ‘High Probability’ of Bankruptcy, Maxim Says http://www.bloomberg.com/news/2011-1...kruptcy-maxim-says.html
62 alphascan : Really effective arguments for your point. Haters gonna hate.
63 airportugal310 : My thoughts exactly... Those are the types of arguments made by people who just want someone to make a decision, but couldn't make one to save themse
64 JA : Does Pinnacle have aircraft currently not under contract to a major?
65 FlyASAGuy2005 : No. Unlike OO, any 'operational spares' they have are on a CPA. That is for the jets @ Pinnacle/Mesaba at least. I don't know about the props.
66 brandonfs88 : I noticed there was a handful of Saabs at the Pinnacle hanger in DTW....are those just waiting to get returned?
67 crj200faguy : Alphascan, not hating just speaking the truth. He is at the helm and responsible for the company. People need to remember this isn't Frontier. He hasn
68 boberito6589 : I know that all 7 Saabs that were operating for US all ferried to DTW last night as yesterday was the last day of operation for them, so that's proba
69 mariner : He wasn't at Frontier very long before the filing - six months? - and had not yet created that loyalty. Many people were anxious to see what he could
70 brandonfs88 : They were painted in DL colors
71 boberito6589 : Oh I guess then today there are just 7 more Saabs chilling in DTW. Im assuming the US Saabs XJA - XJG are going to UA because one of last Saab to go
72 Post contains images bahadir : All I have to say : Full pay till the last day.. They are going to declare Ch.11 and destroy all the contracts anyways.. Why bother with the 5% cut? I
73 bhmdiversion : Sad thing is, this will happen almost to the letter. MEM will try and say "we gave you the chance, now you didn't want to help, so BK is our only opt
74 Mir : Problem is that there isn't that much lower you can go when it comes to regional pay. -Mir
75 crj200faguy : A lot of people I've heard don't believe they will file because they think that's too risky with the 200s. A friend told me they think delta will take
76 bahadir : I know CRJ900s are DL's , but are the 200s owned / leased by PNCL directly ?
77 dtwpilot225 : Here is what Pinnacle Owns: 16 CRJ 900's 28 q400's - they sold and leased back 2 q 400's to make money. All Saabs (a lot of which are parked) Here is
78 Post contains links TXRanger : According to the latest SEC filing , Colgan was actually the most profitable division for the last quarter (by a long shot). They've been significant
79 FlyASAGuy2005 : me thinkgs poor Mesaba would have been better off under their own umbrella vs PNCL...quite a shame what's happened to such a storied regional carrier.
80 KingAir200 : If that were to happen, I wonder where they'd go. There's not all that many great choices out there, now that XJ is gone. Hopefully OO, if anyone. To
81 dtwpilot225 : The only place they would be going would be the desert. Pinnacle operates them just fine but if delta and pinnacle are working on this together and De
82 Sean-SAN- : Once the OH CRJ100/200 go away next year, Delta will not have much flack in the 50-seat fleet. While they are not as economical on a CASM basis compar
83 PSU.DTW.SCE : DL wouldn't pull CRJs from 9E to park them because they are still under lease. Put them elsewhere? - if it made economic sense, but 9E (former NW Airl
84 bahadir : CHQ operated 24 CRJs until March 2010.. I am sure they are not interested in resurrecting a program that has been put to the rest.. The problem is PN
85 Post contains links dtwpilot225 : http://www.commercialappeal.com/news...ec/24/pinnacles-survival-in-peril/ Interesting article. They say they may buy 70 seat jets to replace the 50 se
86 PSU.DTW.SCE : Three interesting things from that article: 1) Sounds like Colgan is a real drag on the bottom line 2) Pinnacle royally screwed-up the merger with Mes
87 Post contains images LAXintl : So which one is it? or Book keeping amongst wholly owned subsidiaries can be a mess, however I'm not sure which one of the above statements is closer
88 LOWS : What a poorly written, unclear article. Is Delta's scope for 70+ seats or would a CRJ7 with 66 seats (a la UA) also fall under the scope clause?
89 n7371f : Delta has room for 2 more CR7's and that's it.
90 TXRanger : It looks like the only statement even referencing Colgan in this article says, "....aging airplanes including the Colgan fleet have raised maintenanc
91 bhmdiversion : The worst part of all of this is MEM continuing not to say a THING to the employee groups. Way to win over the workers without the Golden Parachutes.
92 dtwpilot225 : A lot will be determined from the negotiations with the pilot group, This group waited through 6 years of negotiations to finally get a contract and n
93 usdcaguy : Can anyone restate DL's intentions with the 50-seaters? My impression is that they decided to keep them flying longer than previously planned, but I t
94 FlyASAGuy2005 : No no and no. Again, Delta IS NOT walking away from 50 seaters completely. That would be impossible in the fact that countless markets currently serv
95 EXMEMWIDGET : Until CASM gets reconnoitered at the regional carriers, this issue will spread to other carriers.
96 Sean-SAN- : There is a zero % chance PILOTS will take any pay cuts. Practically everyone is of the same mind, if paycuts are required then it will be via bankrupt
97 STT757 : Does this make it unlikely Pinnacle/Colgan will exercise their options for additional Q400s, IIRC they hold 30-45 purchase options for additional Q400
98 F9Animal : Menke is sounding more like a bankruptcy CEO to me. Air Canada, Frontier, and now Pinnacle. While some may find his abilities good, I am not very fond
99 crj200faguy : Is he the 2nd coming of frank lorenzo?
100 FlyASAGuy2005 : I really don't know where they expect to placee them. If UA has its way, the largge RJs will stay. If the pilot groups have their way, we may see an
101 STT757 : Denver, Chicago, California etc.. UA is now installing First Class and E+ on the Q400s, they are perfect for busy business routes of up to 500 miles.
102 dtwpilot225 : Should be hearing some news out of the pinnacle camp early next week is what i hear. Not sure of good or bad. I think you can say goodbye to all of th
103 apodino : A couple of things to note... All of the operating airplanes are officially off of the old Mesaba Certificate. Some Retired Saabs remain, but that is
104 FlyASAGuy2005 : They're (PNCL) screwed. The XJ guys were really shafted during this so called merger so you can guarantee exactly zero support from them and like you
105 brandonfs88 : Are they still going to use the Mesaba name for the props?
106 sunking737 : IIRC Gone
107 toltommy : [quote=brandonfs88,reply=105]Are they still going to use the Mesaba name for the props? The Mesaba name is going to replace Colgan on the current Colg
108 bhmdiversion : Most of the PM9E guys got screwed, not the PMXJ. This is really going to get ugly, but rumor has it, ALPA allegedly told the pilot group to take the
109 Post contains images brandonfs88 : Go tell that to the XJ F/A's, because 3:1 seniority match is fair
110 norcal : If they get all those millions in bonuses back from the departed executives Pinnacle would be fine. But of course as usual it's always labor's fault
111 apodino : I completely agree. Personally, if I were Sean the first thing I would do is tear up that severance package that Trennary got, and I don't care if it
112 bhmdiversion : I don't have to tell that to the XJ FA's... Mesaba began the whole mess when they brought in Pinnacle guys back in the day that had 2-4 years at Pinn
113 wingnutmn : Well if your math is correct, and 2-1 was what was offered, how is 3-1 considered fair today? Everyone is bitching about everything, 9E thinks XJ suck
114 DashTrash : The "take the 5%" rhetoric would be coming from the MEC, not from ALPA National. I can't say whether or not the MEC has consulted with Herndon or not
115 nwaesc : I'm surprised that isn't happening already...
116 bhmdiversion : Another day down, and another day without anything from what I have heard...
117 crj200faguy : Based on the information the 9E FAs were given it was fair. They were told XJ would get to choose between 9L and 9E. 9L being relative seniority and
118 nwaesc : I meant the mass exodus part...
119 bhmdiversion : I hear the line is forming waiting for the start bell to go off!
120 bhmdiversion : New report out is that some of the crewmember's paychecks were not good... Allegedly, there was a change in the 9E payroll system and the banks of som
121 toltommy : Stop the drama. This has nothing to do with the finances of the company. There was no check, this was a direct deposit error. Saying the check was no
122 Osprey88 : And the Memphis economy takes yet another hit...
123 bhmdiversion : There was no drama intended... This is what was coming from the 9E crews that I know... Just reporting what the rumor I heard and was called about...
124 UAL747DEN : If these guys are really saying that they are completely stupid. 5% is nothing and if that is all that is required they should be throwing Sean a big
125 dtwpilot225 : The problem with regional airlines is that when times like these happen, the inexperience of the employee groups come out. For most pilots, this is th
126 Post contains links norcal : Actually the Mesaba guys know a lot about bankruptcy, they've been through one. If they give 5% now that'll just be the starting point. It won't save
127 Post contains links bhmdiversion : Sorry I tried to post this last night... from Bloomberg.com: http://www.bloomberg.com/news/2012-0...ning-financials-1-.html?cmpid=yhoo Some of the hig
128 boberito6589 : Does anyone know if Pinnacle sold the slots that were being used for Colgan to operate CRW-DCA to US? There was an unscheduled schedule change today a
129 Kcrwflyer : That doesn't make sense to me. The schedule I see shows a Dash coming from CLT at 12:22, then flying CRW-DCA and back twice..then departing at 9am to
130 futureualpilot : It is now 7%, and when you aren't making much to begin with, you best believe that every little bit counts. A party? Hardly. There was a memo publish
131 boberito6589 : You are right It does show a DH8 going CRW-CLT-CRW-DCA-CRW-DCA-CRW (I'm sure that there will be an aircraft swap when it gets to CLT) The PHL-DCA-PHL
132 Kcrwflyer : It looks like the swap is planned for CRW...assuming the aircraft that departs for CLT at 9 is a different bird than the one that returns. Which is t
133 RDH3E : You're entirely misrepresenting what the article says. It says there was an additional expense of $4.9M, not total expense. This is from the Q3 10-Q:
134 bhmdiversion : This was sent to the employee tonight.... Thanks to my friends at Pinnacle for this one... From Internal Memo: Discussions continue with the various p
135 RDH3E : Just holding on to the liquidity while they can. EDC is in the best position of the Pinnacle creditors as they're loans for 9E are "fully" secured.
136 FlyASAGuy2005 : Exactly! They don't get their money and they start to take back a/c and it's pretty clear who would be interedted in picking up the lease because the
137 Post contains links LAXintl : A bit more details about the delayed payment of Canadian export credits. Its some $16.6mil now due April 2nd instead related to the Bombardier fleet.
138 wingnutmn : Lets hope this isn't the first of many in the ways of F-U fridays. I still have hope that Sean has a plan and knows what he is doing. And this plan is
139 bhmdiversion : Is it true that ALPA/AFA/USW are asking now for 7% or is it still 5%?
140 futureualpilot : I'm not sure about the other two unions but ALPA has not officially asked for anything from the pilot group yet. They have been talking with manageme
141 bhmdiversion : Has anyone else seen the stock price? Is the a potential buyer in the works or what the hell is going on? Of course, MEM isn't saying jack squat to th
142 apodino : It has all the appearances of a couple of people buying a ton of stock, and then hoping to be able to reshape the BOD. Since this doesn't relate to t
143 bhmdiversion : Rumors going around stations/MEM - "Big announcement will be made in the next 2 weeks..." I've heard it will be the biggest cuts so far...
144 apodino : I am wondering what the truth is to this. Pinnacle does have a guaranteed contract with DL, that isn't going away anytime soon, so unless Delta is pl
145 dtwpilot225 : i think this announcement thing is a sham, i think its just fear spreading throughout pncl corp. No one i have talked to has heard anything about it.
146 bhmdiversion : This was coming from Ground Operations staff and not the Flight Operations group.
147 FlyASAGuy2005 : If its ground, I can actually see some of these stations like ICT and others, even MEM going Regional Elite and Pinnacle simply offloading everyone f
148 toltommy : Not gonna happen like that. Pinnacle ground ops are union workers (USW I think). They'd have to decide that they want to get out of the ground handli
149 dtwpilot225 : I am the minority, but I actually think pinnacle is going to come out of this ok, maybe even better. I see them shedding the saabs but actually maybe
150 RDH3E : I wouldn't be surprised to see a PinnPro spinoff.
151 toltommy : Maybe you would, but I would not, for the reasons I outlined above. Their union contract may make it difficult if not impossible to do.
152 PSU.DTW.SCE : True point, it says the Colgan Saab 340 ops are a drag, but speaks nothing about the Q400 ops. Agreed. Without wading through the past 150+ posts, can
153 bhmdiversion : This was sent to the employee tonight.... Thanks to my friends at Pinnacle for this one... From Internal Memo: In my Jan. 20 message outlining the cha
154 toltommy : Wow, talk about all or nothing.... Is it just me or is PNCL gambling with the turboprop fleet? They own the saab and the Q fleets, right? What do the
155 dsuairptman : It's called desperation. PT and his cronies need to be hung out to dry.
156 bhmdiversion : Interesting day at Pinnacle... Rumors going around that a minority group of Ground Ops Managers are being cut with no severance or anything... just a
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