Pinnacle Files for Bankruptcy

[JustaNumber]

The whole regional model needs to change otherwise this is going to start happening to all the regional airlines, one by one. The bidding wars and race to the bottom is destroying the industry. The only thing that will fix it is much tighter regulations and something to level out the playing field like minimum wages for pilots based on equipment types. If we're going to be bound by the RLA, then there needs to be better protection for the airline workers. Everytime the price of fuel farts, someone's going bankrupt.

This industry needs heavy regulation.

The government is CAUSING the wave of bankruptcies. Why would you want them to meddle even more? Not to mention, history PROVES that forced involuntary wage and price controls always lead to screwed-up markets.

Every time a government judge allows one side of a contract to not honor its agreement, that entity gets a competitive advantage over others who are honoring their agreements. Then the others have to play the BK game just to compete with the "cheaters". Notice how ALL the majors have now had to declare BK since 9/11? Now the government is allowing the same contract violations to ruin the regional industry.

The Constitution authorizes the government to ensure that contracts are enforced. The current use of Ch.11 ensures that companies have government protection when they don't meet their obligations. Chapter 11 of the bankruptcy process is fundamentally unconstitutional. It kills industries, it doesn't save them.

 

[RJLoser]

...................

 

[suupah]

I might be missing something but where are some you guys getting the 2022 contract extention on the 200's

Menke said it on the employee call

 

[Flyer1015]

Somehow I don't think Delta will keep all CRJ-200s at Pinnacle Corp for another 10 years. There's just no way, not when gas is as expensive as it is and when there's already a glut of -200s.

 

[Turtle21]

Ok, I could agree with that. But my point is once 1113 is filed, things against your will are imposed and ALPA is helpless at that point. Plus, don't get me started on ALPA.... trying to serve two masters when in reality it can only serve one. Trying to protect and speak up for one masters well-being, which directly affects the other master (regionals). I would love regional flying to be taken back into mainline, but I did have a problem seeing my dues at work at ALPA while they protested flying I did. You can't have it both ways.

Anyway, I moved onto a non-union carrier and ALPA sent a letter stating that they were sorry to hear I left to a carrier not represented by ALPA. Then they offered me a chance to continue receiving the ALPA pilot magazine (along with a few other perks) for $50 per year. I smiled, tore that letter up, and threw it straight into the kitchen garbage can.

Read it? Tore it up? That was a terrible waste of time... Could have just thrown it straight in the toilet. :lol:

 

[JumpersAway]

I wonder if Delta is providing DIP financing and extending the 200 contract as an investment opportunity. Perhaps they are trying to "sweeten" the pot for a buy out, by someone like SkyWest Inc. If this is done, and Delta has a controlling interest, or some stock, they stand to make a pretty penny from a sale.

 

[Raskal]

I wonder if Delta is providing DIP financing and extending the 200 contract as an investment opportunity. Perhaps they are trying to "sweeten" the pot for a buy out, by someone like SkyWest Inc. If this is done, and Delta has a controlling interest, or some stock, they stand to make a pretty penny from a sale.

What?! An ulterior motive? And money at that?! Bite your tongue sir, just bite it! Delta is as pure as the driven ho! I mean snow...

 

[Thebadcat1313]

I wonder if Delta is providing DIP financing and extending the 200 contract as an investment opportunity. Perhaps they are trying to "sweeten" the pot for a buy out, by someone like SkyWest Inc. If this is done, and Delta has a controlling interest, or some stock, they stand to make a pretty penny from a sale.

Certainly anythings possible, however, after the expressjet purchase I HIGHLY doubt Skywest Inc will ever buy another airline. This has been very painful for Jerry and the Board....

 

[russtgol]

Certainly anythings possible, however, after the expressjet purchase I HIGHLY doubt Skywest Inc will ever buy another airline. This has been very painful for Jerry and the Board....

They have buyers remorse..During the last confrence call they said they won't do that again.. Buying exjet was a huge mistake.should have just let them fold and take the assests.

 

[trip]

"sweeten" the pot for a buy out, by someone like SkyWest Inc.

Buy what? you don't own anything, it's all leased or owned by DL.

Hopefully this will be another warning to those companies that play "fast and loose" with the bidding of contracts with hopes of sweeter things to come.