US bankruptcy court rules on Pinnacle Airlines, pi
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Nov 19, 2012 (AIRLINE INDUSTRY INFORMATION via COMTEX) -- Bankrupt US-based carrier Pinnacle Airlines (OTC: PNCLQ) said that an American bankruptcy court has issued a ruling providing Pinnacle Airlines and the Pinnacle Airlines pilot group representatives the Air Line Pilots Association a clear path to a consensual agreement.
According to Pinnacle, the ruling, issued by the United States Bankruptcy Court for the Southern District of New York, was in accordance with Section 1113 of the United States Bankruptcy Code.
The court noted three "very limited exceptions" that prevented it from granting Pinnacle's motion at this time, characterizing them as "relatively easy to fix." The court concluded that significant modifications to the CBA are needed.
Pinnacle Airlines flies as Delta Connection, and operates 197 regional jets on 1,000 daily flights to 131 cities in the United States and Canada. Visit www.pncl.com for more information.
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