Pinnacle Airlines, Inc. Pilots Ratify Collective Bargaining Agreement
Major Step Toward Successful Restructuring in Chapter 11
MEMPHIS, Tenn., Jan. 15, 2013 /PRNewswire/ -- Pinnacle Airlines Corp.'s (OTC: PNCLQ) wholly owned subsidiary, Pinnacle Airlines, Inc., announced today that its pilots group, represented by the Air Line Pilots Association, International (ALPA), ratified the tentative agreement reached with ALPA in December.
The changes in the ratified agreement, which covers pilot pay, retirement, work rules and benefits, will become effective when concessions are implemented for the airline's other labor groups and non-union employees.
"Through the constructive efforts of Pinnacle and ALPA, we were able to achieve our goal of reaching a consensual agreement with our pilots. We have now reached agreements with all of our unions following the previously announced agreements with the Association of Flight Attendants and the Transport Workers Union. This is a significant milestone in our restructuring and represents substantial progress that we expect will allow us to successfully emerge from bankruptcy," said John Spanjers, president and CEO of Pinnacle Airlines Corp.
A hearing is scheduled on Jan. 16 for the Bankruptcy Court to consider approval of the tentative agreement with ALPA and the other agreements that Pinnacle expects to facilitate its emergence from bankruptcy.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (OTC: PNCLQ), an airline holding company with 5,100 employees, is the parent company of Pinnacle Airlines, Inc. Flying as Delta Connection, Pinnacle Airlines, Inc. operates 191 regional jets on 1,000 daily flights more than 100 cities in the United States and Canada. Corporate offices are located in Memphis, Tenn., and hub operations are located in Atlanta, Cincinnati, Detroit, Memphis, Minneapolis and New York. Visit www.pncl.com for more information.
Pinnacle Airlines Corp.
Michael Freitag / Nick Lamplough
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Pinnacle Airlines Corp.
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