SmitteyB
Well-Known Member
MEMPHIS, TN -- (Marketwire) -- 10/01/08 -- Pinnacle Airlines Corp. (NASDAQ: PNCL) saidtoday that its Pinnacle Airlines, Inc. subsidiary will operate additionalCRJ-900 aircraft for Delta Air Lines on a short-term basis beginning inOctober 2008.
"Delta has asked us to operate additional CRJ-900 aircraft that are beingreturned from another Delta Connection carrier beginning in October," saidPhil Trenary, Pinnacle Airlines Corp.'s president and chief executiveofficer. "In addition, we are able to put to work two of our CRJ-900aircraft as needed during the transition. This additional flying ismutually beneficial to Delta and Pinnacle, and we are glad to assist."
Pinnacle currently has eleven CRJ-900 aircraft in its fleet, with nineaircraft in service under its Delta Connection Agreement. Pinnacle willreceive three CRJ-900s in October and four more in November that wereformerly operated by another Delta Connection carrier, temporarily takingthe number in Pinnacle's fleet to 18. The aircraft will be leased byPinnacle from Delta on a short-term basis. Pinnacle will operate thesetemporary aircraft under the terms of the existing Delta ConnectionAgreement, although Pinnacle will only pay a nominal rent under the termsof the leases.
Pinnacle will operate these seven temporary CRJ-900 aircraft until the fiveremaining CRJ-900 aircraft that Pinnacle has on order from the manufacturerbegin delivering in January 2009. As Pinnacle's aircraft deliver from themanufacturer, the seven temporary aircraft will be returned to Delta to beoperated by another Delta Connection carrier. Pinnacle will receive the16th CRJ-900 from the aircraft manufacturer by May 2009.
Two of Pinnacle's existing fleet of CRJ-900 aircraft are currently not inservice under the Delta Connection Agreement. Pinnacle will operate thesetwo aircraft from time to time during the fourth quarter as needed tosupport the transition of the seven temporary aircraft into scheduledservice. On days when these two aircraft are scheduled, Delta willreimburse Pinnacle a pro-rata portion of its ownership costs related tothese aircraft, in addition to normal variable compensation under the DeltaConnection Agreement. These two aircraft will enter permanent serviceunder the Delta Connection Agreement in January, as previously planned.
Pinnacle entered into an agreement with Delta in April 2007 to operate 16CRJ-900 aircraft as a Delta Connection carrier and began operations underthe agreement in December 2007. Pinnacle has already taken delivery of 11of the 16 CRJ-900 aircraft on order. The larger 76-seat CRJ-900 NextGenjet has a redesigned interior for passenger comfort, and has operatingcosts that are the lowest among comparably sized regional jets, providingfor an economic, efficient aircraft in the Delta network.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (NASDAQ: PNCL), an airline holding company, is theparent company of Pinnacle Airlines, Inc. and Colgan Air, Inc. PinnacleAirlines, Inc. operates a fleet of 135 regional jets in the United Statesand Canada as Northwest Airlink and Delta Connection. Colgan Air, Inc.operates a fleet of 60 regional turboprops as Continental Connection,United Express and US Airways Express. Pinnacle Airlines Corp. operatingunits fly over 1,000 daily flights and transport more than 10 millionpassengers a year to 140 cities and towns in North America. Visitwww.pncl.com for more information.
"Delta has asked us to operate additional CRJ-900 aircraft that are beingreturned from another Delta Connection carrier beginning in October," saidPhil Trenary, Pinnacle Airlines Corp.'s president and chief executiveofficer. "In addition, we are able to put to work two of our CRJ-900aircraft as needed during the transition. This additional flying ismutually beneficial to Delta and Pinnacle, and we are glad to assist."
Pinnacle currently has eleven CRJ-900 aircraft in its fleet, with nineaircraft in service under its Delta Connection Agreement. Pinnacle willreceive three CRJ-900s in October and four more in November that wereformerly operated by another Delta Connection carrier, temporarily takingthe number in Pinnacle's fleet to 18. The aircraft will be leased byPinnacle from Delta on a short-term basis. Pinnacle will operate thesetemporary aircraft under the terms of the existing Delta ConnectionAgreement, although Pinnacle will only pay a nominal rent under the termsof the leases.
Pinnacle will operate these seven temporary CRJ-900 aircraft until the fiveremaining CRJ-900 aircraft that Pinnacle has on order from the manufacturerbegin delivering in January 2009. As Pinnacle's aircraft deliver from themanufacturer, the seven temporary aircraft will be returned to Delta to beoperated by another Delta Connection carrier. Pinnacle will receive the16th CRJ-900 from the aircraft manufacturer by May 2009.
Two of Pinnacle's existing fleet of CRJ-900 aircraft are currently not inservice under the Delta Connection Agreement. Pinnacle will operate thesetwo aircraft from time to time during the fourth quarter as needed tosupport the transition of the seven temporary aircraft into scheduledservice. On days when these two aircraft are scheduled, Delta willreimburse Pinnacle a pro-rata portion of its ownership costs related tothese aircraft, in addition to normal variable compensation under the DeltaConnection Agreement. These two aircraft will enter permanent serviceunder the Delta Connection Agreement in January, as previously planned.
Pinnacle entered into an agreement with Delta in April 2007 to operate 16CRJ-900 aircraft as a Delta Connection carrier and began operations underthe agreement in December 2007. Pinnacle has already taken delivery of 11of the 16 CRJ-900 aircraft on order. The larger 76-seat CRJ-900 NextGenjet has a redesigned interior for passenger comfort, and has operatingcosts that are the lowest among comparably sized regional jets, providingfor an economic, efficient aircraft in the Delta network.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (NASDAQ: PNCL), an airline holding company, is theparent company of Pinnacle Airlines, Inc. and Colgan Air, Inc. PinnacleAirlines, Inc. operates a fleet of 135 regional jets in the United Statesand Canada as Northwest Airlink and Delta Connection. Colgan Air, Inc.operates a fleet of 60 regional turboprops as Continental Connection,United Express and US Airways Express. Pinnacle Airlines Corp. operatingunits fly over 1,000 daily flights and transport more than 10 millionpassengers a year to 140 cities and towns in North America. Visitwww.pncl.com for more information.