Transportation
Pinnacle Airlines Corp., which provides regional jet service for Delta, United and US Airways, filed for Chapter 11 court protection.
The
company's reorganization plan calls for "restructuring its key operating
agreements with Delta Air Lines, winding down its operations with United
Airlines, completing the wind-down of its Essential Air Service flying with US
Airways, achieving cost savings from its workforce, identifying additional
opportunities across the organization to reduce costs, and ensuring that it has
the appropriate fleet, staffing levels and network to operate profitably on an
ongoing basis," according to a company statement. Delta has committed
$74.3 million in debtor-in-possession financing, pending court approval. Of
that, $44.3 million would be used "to repay a secured promissory note held
by Delta."