Pinnacle Airlines Dispatchers Ratify Collective Bargaining Agreement Moves Airline Closer to Successful Restructuring in Chapter 11
MEMPHIS, Tenn., Sept. 11, 2012 /PRNewswire/ -- Pinnacle Airlines Corp.'s (OTC: PNCLQ) wholly owned subsidiary, Pinnacle Airlines Inc., announced today that its Dispatchers ratified the tentative agreement reached on Aug. 31. The ratification means the dispatchers, represented by the Transport Workers Union of America (TWU), will avoid the Section 1113 litigation process in bankruptcy court.
"This agreement is an essential element in revising our business plan to exit Chapter 11 Bankruptcy proceedings as a competitive regional carrier. Dispatchers are essential to safe, efficient operations and the agreement acknowledges that," said Russ Elander, vice-president of operations.
The contract remains subject to required corporate approvals and review by the Bankruptcy Court.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (OTC: PNCLQ), a $900 million airline holding company with 6,100 employees, is the parent company of Pinnacle Airlines, Inc. Flying as Delta Connection, Pinnacle Airlines, Inc. operates 197 regional jets on 1,000 daily flights to 131 cities in the United States and Canada. Corporate offices are located in Memphis, Tenn., and hub operations are located in Atlanta, Detroit, Memphis and Minneapolis. Visit www.pncl.com for more information.
SOURCE Pinnacle Airlines Corp.