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News Breaks | | | | January 3, 2013 | | 11:50 EDT |  | DAL, PNCLQ | Pinnacle Airlines reaches agreements to provide viable path out of Chapter 11
Pinnacle Airlines (PNCLQ) and its wholly owned subsidiaries have entered into comprehensive agreements that, among other things, provide a path forward for the company to emerge from bankruptcy with a competitive cost structure and a viable long-term business plan. Under Pinnacle's new business plan, the company will transition its fleet to operate a fleet of 81 fuel-efficient, two-class regional jets for Delta Air Lines (DAL). The comprehensive agreements among Pinnacle, Delta, the Air Line Pilots Association, International and the Official Committee of Unsecured Creditors in Pinnacle's Chapter 11 cases include: An amendment to the company's existing debtor-in-possession credit facility, to provide Pinnacle with $30M of additional liquidity to support its continued operation through emergence from Chapter 11 and an additional $22M to fund certain required payments to Pinnacle's pilots under a Bridge Agreement and related employer taxes. Amendments to the existing operating agreements with Delta that form the basis of the new business plan. Pinnacle will receive Delta Connection's next 40 CRJ-900 aircraft awarded, setting Pinnacle's long-term fleet plan at 81 CRJ-900 aircraft. The 40 additional CRJ-900 aircraft deliveries are planned to begin in the fall of 2013 and are expected to be completed by year-end 2014. Pinnacle's 140 CRJ-200 aircraft will be removed from operation over the next two to three years. | |
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News For PNCLQ;DAL From The Last 14 Days Check below for free stories on PNCLQ;DAL the last two weeks. |
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| May 16, 2013 | | 08:28 EDT |  | DAL | EU to decide on Delta, Virgin deal next month, Reuters reports
EU antitrust regulators will decide by June 20 whether to clear a bid by Delta Air Lines for a 49% stake in Virgin Atlantic, reports Reuters. Reference Link | | | May 15, 2013 | | 09:29 EDT | | DAL | Delta Air Lines says expects 'record' June quarter
 Subscribe for More Information | | | May 14, 2013 | | 07:17 EDT |  | DAL | BofA/Merrill to host a conference
Subscribe for More Information | | | May 10, 2013 | | 06:47 EDT | | DAL | Delta says airlines have new priorities, NY Times reports
Delta Air Lines' bright, spacious new terminal at New York's Kennedy Airport reflects airlines' new emphasis on better amenities and service, Delta stated, according to the New York Times. The airlines, whose finances have improved, are no longer competing primarily based on price, the newspaper stated. Reference Link | | | May 9, 2013 | | 10:53 EDT | | DAL | Gol Linhas, Delta expand codeshare agreement
Subscribe for More Information | | | May 8, 2013 | | 12:20 EDT |  | DAL | On The Fly: Midday Wrap
Subscribe for More Information | | | 12:03 EDT |  | DAL | Delta Air Lines price target raised to $23 from $20 at Imperial Capital
Imperial Capital raised its price target for Delta Air Lines after the company established a dividend and announced a share repurchase program. The firm keeps an Outperform rating on the stock. | | | 09:24 EDT | | DAL | On The Fly: Pre-market Movers
UP AFTER EARNINGS: Myriad Genetics (MYGN), up 9%... Electronic Arts (EA), up 7.4%... Cognizant (CTSH), up 5.2%. ALSO HIGHER: Whole Foods (WFM), up 8.5% after earnings, raising guidance, announcing two-for-one stock split... BlackBerry (BBRY), up 2% after Macquarie says stock setting up for bounce and Jefferies says Q10 demand remains robust... Delta (DAL), up 0.7% after initiating 6c dividend, authorizing $500M share buyback. DOWN AFTER EARNINGS: ValueClick (VCLK), down 20%... Axiall (AXLL), down 8.4%... Zillow (Z), down 5.1%... SodaStream (SODA), down 6%... Symantec (SYMC), down 5.8%... AOL (AOL), down 4.6%. ALSO LOWER: Fusion-io (FIO), down 26% after resignations of CEO, Chief Marketing Officer. | | | 08:04 EDT | | DAL | Delta Air Lines announces capital deployment program
Subscribe for More Information | | | 08:02 EDT | | DAL | Delta Air Lines board authorizes $500M share repurchase program
The program will be completed no later than June 30, 2016. | | | | 08:02 EDT | | DAL | Delta Air Lines initiates quarterly dividend of 6c
Subscribe for More Information | | | 05:44 EDT | | DAL | U.S. airlines' restructuring means less routes, WSJ reports
A decade of restructuring in the U.S. airline industry has resulted in a sharp reduction in air service that is curtailing traveler choice and some local economies even as it improves the industry's health, an MIT study shows, reports the Wall Street Journal. From 2007 through last year, U.S. airlines cut the number of scheduled domestic flights by 14%. The number of seats offered fell by slightly less, as airlines pushed passengers onto bigger planes, says the study. Reference Link | |
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