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Squawks & HeadlinesPinnacle Airlines Files for Chapter 11 Bankruptcy Protection

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Pinnacle Airlines Files for Chapter 11 Bankruptcy Protection

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MEMPHIS, Tenn., April 1, 2012—Pinnacle Airlines Corp. (NASDAQ: PNCL) today announced that the Company and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (the “Court”). Pinnacle intends to use the Chapter 11 process to continue implementing a comprehensive turnaround plan aimed at addressing its operational and financial challenges in a rapidly evolving regional… (www.pinnaclerestructuring.com) More...

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tartarus12
Robert Curley 3
Glad I missed out on buying this stock.
FedExCargoPilot
don't tell me you invest in airlines! The CEOs say explicitly not to invest in airlines!
tartarus12
Robert Curley 2
No, I learned my lesson with GOL. Too many variables with the airlines. Rising fuel costs, unfortunate crashes and the ever present unions.
Pileits
Pileits 5
BUT the CEO and his other henchmen got a pay raise minutes before filing. That's business in America these days. What HAS America become, but the land of GREED caps intended!
dbrooks84
David Brooks 3
GREED - right on!!
GSpotter
Harry Gordon 2
Gawd! A link to a press release. That's likely to be believable. What's the expectation? Screw the vendors. Screw the employees. Screw the public. Laugh all the way to the bank.

It's not cynicism; it's a flashback.
BoeingFan59
Troy Raiteri 2
This means...less CRJs at MEM?...:D
frankalbert
Frank Albert 1
Gawd I hope so...if we never fly through MEM again, it'll be too soon.
preacher1
preacher1 1
Curious as to what happened. We have flown through there as pax for years with nothing but pleasant experience, having both same and terminal change connections. Very nice and fluid.
Airport's not bad if you're up front either.
bluebirdlimo
As one fmamous man with bad hair stated. Bankruptcy is a financial tool.
fhutchings
They probably filed 45 minutes late... That's how their last flight I took went...
And yes, I missed my connecting flight...
thans625
Obama should be saving airlines not solar power
WALLACE24
WALLACE24 1
Save them from what? Themselves?
sparkie624
sparkie624 -1
As an employee of Pinnacle, I feel they have a strategy that is going to work out and Pinnacle will be back better and stronger than before.
DashTrash
DashTrash 4
What flavor was the Kool Aid?
sparkie624
sparkie624 1
No Tea.. I prefer Lipton Tea :) ... Amazing DashTrash should respond to me... I used to work on Dash Trash... The Dash 8's that is :)
DashTrash
DashTrash 1
I hope you're right, Sparkie. I've been through a couple of bankruptcies while flying the Trash. The common denominator is management ran the company into the ground and now wants your money to fix it. In return we'll give you lip service and raise our compensation because of the awesome job we're doing fixing the mess we made (I know previous mgmt caused the mess in the case).

Best of luck to you, Brother. I hope it turns out well.
sparkie624
sparkie624 1
Sounds like a familiar story... Who do you fly for USAir/Piedmont?
DashTrash
DashTrash 1
You got it.
DashTrash
DashTrash 1
Used to fly for them. I bailed for greener pastures which turned out to be filled with cow piles.
sparkie624
sparkie624 1
LOL, I did the same, now I am with Pinnacle in Maint Control. Working maint control on CRJ's now. We may have talked at Piedmont and never known it.
abowland
Andy Bowland 2
"Working maint control" does not help your "they have a strategy that is going to work out and Pinnacle will be back better and stronger than before" message.

Their strategy is to cut pay, cut insurance, cut anything they can...then give themselves a bonus.

Like dash said...management drove it into the ground and wants your money to fix it, and once it is fixed who gets a raise? Not you.
Theanimal
Angel Garcia 0
(Duplicate Squawk Submitted)

United Express partner parent files for bankruptcy

Pinnacle Airlines, parent of United Express partner Colgan Air, Inc., Sunday filed for bankruptcy protection. We are working with Colgan for an orderly wind down to transition its flying and ground handling for United Express and are working hard to accommodate our customers. We have contingency plans in place and will contact customers whose reservations may change as a result of the transition.

http://skynet.ual.com/
airplanefreakz
kyle dunst 0
(Duplicate Squawk Submitted)

Pinnacle Airlines files for Chapter 11 Bankruptcy

Regional carrier, Pinnacle Airlines, has announced that it will be filing for Chapter 11 Bankruptcy protection

http://www.thirtythousand.us/2012/04/02/pinnacle-airlines-files-for-chapter-11-bankruptcy/