A Pinnacle CRJ approaches Akron-Canton airport in 2011. Photo: Gary Starcher - OPShots Contributor
Pinnacle Airlines Corp (NSQ:PNCL – News), parent of Pinnacle Airlines and Colgan Air, filed for bankruptcy protection, the latest victim of high fuel prices and dampened travel demand.
Memphis, Tennessee-based Pinnacle operates as various regional airlines – most notably Delta Connection – for bigger-name partners including Delta Air Lines (NYS:DAL – News), United Airlines (NYS:UAL – News) and US Airways (NYS:LCC – News).
Pinnacle said in a filing late on Sunday that it would rework its contracts with Delta and end flying for United and US Airways. The company also wants to cut its labor and operating costs.
via Pinnacle Airlines files for bankruptcy in U.S. – Yahoo! Finance.
