LAXintl
Topic Author
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

Pinnacle Seeks Approval To Exit Bankruptcy

Tue Apr 16, 2013 5:09 pm

Pinnacle Airlines on Wednesday is expected to receive bankruptcy court confirmation and and emerge from the Chapter 11 case it launched about a year ago.

The restructuring plan sees the company become a wholly owned subsidiary of Delta Airlines with a new CEO, shed its fleet of 140 smaller planes to focus its fleet solely around the CRJ-900 model, achieve lower cost labor agreements, and move headquarters from Memphis to Minneapolis.

Link
Pinnacle Seeks Approval to Exit Bankruptcy
http://goo.gl/7QGXI

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From the desert to the sea, to all of Southern California
 
LAXintl
Topic Author
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

RE: Pinnacle Seeks Approval To Exit Bankruptcy

Fri Apr 19, 2013 4:50 am

Court approved Delta takeover and emergence from BK.

Company says is projects a May 1st emergence.

Story:
Court OKs Pinnacle Bankruptcy Reorganization
http://www.aviationpros.com/news/109...pinnacle-bankruptcy-reorganization

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From the desert to the sea, to all of Southern California
 
bhmdiversion
Posts: 273
Joined: Mon Dec 29, 2008 2:41 pm

RE: Pinnacle Seeks Approval To Exit Bankruptcy

Fri Apr 19, 2013 9:59 am

Glad yet got their costs down at the expense of the employees. Pinnacle was a great company run into the ground by poor management.
 
LAXintl
Topic Author
Posts: 20183
Joined: Wed May 24, 2000 12:12 pm

RE: Pinnacle Seeks Approval To Exit Bankruptcy

Thu May 02, 2013 5:40 pm

And they are out of BK officially now.

On Wednesday they emerged as a wholly owned subsidiary of Delta.

During the BK process they closed up the Colgan unit and shrunk the overall aircraft fleet from 291 to 186.
From the desert to the sea, to all of Southern California

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