Key Developments For Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (PNCL.O) (Nasdaq)
Pinnacle Airlines Corp. Pilots Reject Agreement To Amend Contract-AP
The Associated Press reported that Pilots at Pinnacle Airlines Corp. have rejected an agreement to amend their contract, the Company said. The contract covers 1,250 pilots. The Company said the contract agreed to between the Company and pilot union negotiators would have improved compensation, benefits and work rules.
Pinnacle Airlines Corp. And ALPA Reach Tentative Agreement
Pinnacle Airlines, Inc., a wholly owned subsidiary of Pinnacle Airlines Corp. and the Air Line Pilots Association, International (ALPA) announced that they have reached a tentative agreement to amend the contract covering the Airline's 1,250 Pilots. The agreement is the result of contract talks that began in 2005. Pinnacle Pilots must now ratify it.
Pinnacle Airlines Corp. Announces Expansion Of Partnership With Continental Airlines
Pinnacle Airlines Corp. announced that it has entered into an agreement with Continental Airlines to increase the number of Q400 aircraft operated by Colgan Air, Inc. (Colgan), Pinnacle Airlines Corp.'s wholly owned subsidiary, as a Continental Connection carrier. Colgan will purchase and take delivery of 15 additional Q400 aircraft to be operated under the capacity purchase agreement (the CPA) between Continental Airlines and Colgan. The aircraft will be delivered between August 2010 and April 2011. Each aircraft will be operated for a period of ten years under the CPA subject to the existing rates, terms and conditions of the CPA, provided that certain rates paid to Colgan will increase commensurate with the increase in the purchase price of the aircraft. Upon delivery of these aircraft, Colgan will operate 30 Q400 aircraft under its CPA as a Continental Connection carrier.
Pinnacle Airlines Corp. To Temporarily Operate Additional Aircraft For Delta Air Lines
Pinnacle Airlines Corp. announced that its Pinnacle Airlines, Inc. subsidiary will operate additional CRJ-900 aircraft for Delta Air Lines on a short-term basis beginning in October 2008.
Pinnacle Airlines Corp. Announces Restructuring Plans For Colgan Operations-DJ
Dow Jones reported that Pinnacle Airlines Corp. announced a turnaround plan for its ailing Colgan operations to combat the increase in fuel prices. The Colgan restructuring involves the elimination of 12 markets from the unit's US Airways Express and United Express operations in October, increased federal subsidies and having a new maintenance base at Washington/Dulles International Airport.
