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15 More Q400's for Colgan-CAL

FlyinPiker

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Pinnacle Airlines Corp. Announces Expansion of Partnership With Continental Airlines

Thursday January 15, 8:00 am ET
Exercises Options on 15 Q400 NextGen Aircraft
MEMPHIS, TN--(MARKET WIRE)--Jan 15, 2009 -- Pinnacle Airlines Corp. (PNCL) (NasdaqGS:PNCL - News) announced today that it has entered into an agreement with Continental Airlines to increase the number of Q400 aircraft operated by Colgan Air, Inc. ("Colgan"), PNCL's wholly owned subsidiary, as a Continental Connection carrier. Colgan will purchase and take delivery of 15 additional Q400 aircraft to be operated under the capacity purchase agreement (the "CPA") between Continental Airlines and Colgan. The aircraft will be delivered between August 2010 and April 2011.

"We are grateful for the confidence Continental Airlines places in our People and the Q400," said Philip H. Trenary, President and Chief Executive Officer of Pinnacle Airlines Corp. "The Q400 is a perfect addition for Continental and a financially sound move for Colgan as we grow our fleet to compete in a cost-conscious environment."
Each aircraft will be operated for a period of ten years under the CPA subject to the existing rates, terms and conditions of the CPA, provided that certain rates paid to Colgan will increase commensurate with the increase in the purchase price of the aircraft. Upon delivery of these aircraft, Colgan will operate 30 Q400 aircraft under its CPA as a Continental Connection carrier.
In connection with this transaction, PNCL has arranged for a financing commitment from a lender to finance up to 85% of the purchase price of each aircraft and to finance most predelivery payments required to be made to the manufacturer between now and the time of delivery. All cash payments that are required to be made to the manufacturer prior to the second quarter of 2010 will be financed subject to this financing commitment. The financing commitment contains standard provisions related to PNCL's financial condition that must be met prior to requesting draws. In addition, PNCL expects to pursue lease financing to reduce its capital requirements associated with the acquisition of these aircraft.
PNCL also obtained 15 optional delivery slots exclusively for Continental for Q400 aircraft delivering in 2013, subject to PNCL obtaining commercially reasonable financing for the option aircraft. PNCL still retains 15 options for Q400 aircraft delivering in 2011 that it may market to other major U.S. airlines.
The Q400 seats 74 passengers, but consumes about 25 percent less fuel than a 76-seat jet, making it more environmentally friendly. The noise and vibration canceling technology make this turboprop ride more like a jet. Its capabilities provide real advantages in congested areas such as Newark and LaGuardia airports. These 15 aircraft will be configured with the Q400 NextGen cabin interior, which includes larger overhead storage bins, improved lighting, and modifications to increase the size of the cabin to enhance passenger comfort.
 

mynameisjim

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Yay for growth that will occur in 19 months!

It used to be that pilots didn't even stay at Colgan for 19 months.
 

Uncle Bunkle

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Good news, here's to growth :beer:

Growth at the Majors = Good

Growth at Colgan and you're celebrating = You are a ****************************** who doesn't get it. Enjoy working for peanuts forever at a regional.
 

cloudkicker1981

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Yay for growth that will occur in 19 months!

It used to be that pilots didn't even stay at Colgan for 19 months.

Yeah you beat me to it but its going to be sometime b4 leaving to greener pastures at any regional. Did you work at colgan at one point?
 

relief tube

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Good news, here's to growth :beer:


uhhh, yeah......."Good news, here's to not having any mainline jobs to apply for!"

If they can get those payscales up to more than 55 an hour for a 70plus seat A/C, maybee things'd be better
 

ex j-41

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Hey Great News....

Express Jet Pilots lose their jobs and Colgan gets them.....

Great News.....

Congrats...
 

Visceral

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Hey Great News....

Express Jet Pilots lose their jobs and Colgan gets them.....

Great News.....

Congrats...

CAL wants more large turboprops, which Express Jet currently doesn't have.
 

Ridgeback

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Now let's see how Daddy Delta reacts to this news...Richard Anderson has always wanted complete control of their regional partners, look at how NWA operated during his time there.

Add 15 Q's for continental

Minus 16 900's Delta
 

DoinTime

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Now let's see how Daddy Delta reacts to this news...Richard Anderson has always wanted complete control of their regional partners, look at how NWA operated during his time there.

Add 15 Q's for continental

Minus 16 900's Delta


They seem to like doing business with SkyWest and Republic just fine. The new Delta is to big for the CEO to micromanage the connection operation.
 

Plainsman

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He seemed to do a good job micromanaging after Bornwort tried to kick peanuckle to the curb.
 

Sioux115

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How is the Q400 reliability at Colgan? Its terrilble at QX. We have 34 and soon to be a our entire fleet.

While Im at it, a joke from one of our mechanics,"Whats the only thing that keeps the 400 in the air?---Jacks!"

Good luck with 15 more megawhackers.
 

Ridgeback

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He seemed to do a good job micromanaging after Bornwort tried to kick peanuckle to the curb.


And what exactly were the NEW terms to the agreement peanuckle and Detla came up with to keep the 900 flying..

Last time I checked that has not been disclosed yet...

I would still be very cautious, I think the relationship with Delta will come to an end soon. 9E is demonstrating that their future is with Continental and Q400's. Delta is demonstrating that their is no future for 200's. I think within a few years we'll look back to these days as the days that saved 9E... The largest Q400 operator in the country and exclusive partner of Contiental.

How excited does anyone think Delta is that the money they loose on every flight 9e operates a 200 on is profit in the back for 9e. Of which that same profit is buying bigger, newer, more efficient airplanes to compete against their #1 competitor out of the New York market. I'm sure Delta will not be subsidizing their competitor much longer...
 

i fly boxes

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skywest flies for united and delta out of lax, I don't think delta cares as long as their side performes
 

luvz2fli

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Yay for killing jobs at express jet who get paid more than colgan yet colgan flies a bigger plane. Yay for pulling down possibly more flying that a 73 could do instead for a turboprop. Yay for using a backdoor way to get around scope even though CAL is the only one smart enough to still hold onto it.
 

check6

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Mo' Money!!

You guys need to start getting paid for flying 74 people around.
 
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jellynuts

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You guys need to start getting paid for flying 74 people around.

They do!! About as much as the skycaps outside on the curb!

effin Colon....you guys are losers
 

check6

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How is the Q400 reliability at Colgan? Its terrilble at QX. We have 34 and soon to be a our entire fleet.

While Im at it, a joke from one of our mechanics,"Whats the only thing that keeps the 400 in the air?---Jacks!"

Good luck with 15 more megawhackers.


I think the order for 15 might be because they just figured out they might need maintenance spares for the original 15 . . .
 
Last edited:

Smarta$$

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And what exactly were the NEW terms to the agreement peanuckle and Detla came up with to keep the 900 flying..

Last time I checked that has not been disclosed yet...

I would still be very cautious, I think the relationship with Delta will come to an end soon. 9E is demonstrating that their future is with Continental and Q400's. Delta is demonstrating that their is no future for 200's. I think within a few years we'll look back to these days as the days that saved 9E... The largest Q400 operator in the country and exclusive partner of Contiental.

How excited does anyone think Delta is that the money they loose on every flight 9e operates a 200 on is profit in the back for 9e. Of which that same profit is buying bigger, newer, more efficient airplanes to compete against their #1 competitor out of the New York market. I'm sure Delta will not be subsidizing their competitor much longer...

Wow, you are an idiot.
 

LowlyPropCapt

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They do!! About as much as the skycaps outside on the curb!

effin Colon....you guys are losers

Hey now, they just organized.

Let's give them some time to negotiate a contract before we start calling names. Come to think of it, are you ready to walk for a better PDT contract?
 
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