Pinnacle to get 17 more CRJ's

[n32jk]

That's right your saw it here first!

p.s. your want proof watch the papers the next few days.

Not sure if they are 200's or 705's

They are just the 15 that were given back by NW. Not certain about the other two. Just putting them back into service nothing more... This has been known at PCL for a couple of months now... Course might change... depends.... but they are certainly 200's at this point.

 

[Sppedmode]

Something is up...they just posted a bid for 32 Capts

 

[YourPilotFriend]

A new ASA has been reached with pinnacle, 17 CRJs returning to the fleet after the first of the year.

 

[YourPilotFriend]

[FONT=ARIAL, Helvetica, Geneva][FONT=ARIAL, Helvetica, Geneva][FONT=ARIAL,]Press Release Source: Pinnacle Airlines

Pinnacle Airlines Corp. Announces Amended Airline Services Agreement With Northwest

Thursday December 21, 7:30 pm ET

MEMPHIS, TN--(MARKET WIRE)--Dec 21, 2006 -- Pinnacle Airlines Corp. (NASDAQNCL - News) ("Pinnacle") announced today that it has reached agreement with Northwest Airlines, Inc. ("Northwest") for an amended and restated Airline Services Agreement (the "Amended ASA") between the two parties, subject to confirmation by the bankruptcy court overseeing Northwest's chapter 11 bankruptcy proceedings. The agreement provides, among other things, that Pinnacle will continue to be a long-term partner of Northwest through at least 2017. In addition to reaching terms on an Amended ASA, Northwest and Pinnacle have also reached an agreement on certain corporate governance issues and agreed that Pinnacle will receive an allowed unsecured claim of $377.5 million (subject to adjustment in certain circumstances) in Northwest's bankruptcy proceedings in settlement of all claims that Pinnacle may have against Northwest. Once approved, the Amended ASA and related agreements will become effective January 1, 2007.

"All of us at Pinnacle are pleased and proud to continue our relationship with Northwest Airlines," said Philip H. Trenary, President and CEO of Pinnacle Airlines Corp. "By working together and flying one of the most reliable, cost-efficient fleets of regional jets in the world, our People have positioned Pinnacle as one of Northwest's most valuable contributors. This is a win for all parties."

Tim Griffin, Northwest's Executive Vice-President for Marketing and Distribution added, "We are pleased to continue this relationship that reaches back over 20 years. Pinnacle is an outstanding operator and partner for Northwest. We look forward to continued mutual success."

Restrictions on Operations for Other Airlines Removed

The Amended ASA removes all restrictions preventing Pinnacle from using its wholly owned subsidiary, Pinnacle Airlines, Inc., to provide regional airline services to other major airlines, with the exception of operating flights into or out of Northwest's hub cities of Minneapolis/St. Paul, Detroit, and Memphis. Pinnacle may also operate aircraft with seating capacities of 76 seats, or such other size that does not cause Northwest to violate its collective bargaining agreement with its pilots union. Further, the existing provision that requires Pinnacle to allocate its overhead between multiple operations, thus reducing the amount Northwest pays to Pinnacle for overhead, will not be applicable until Pinnacle has added at least 24 aircraft with another partner.

Fleet Size

The Amended ASA will provide that Pinnacle will retain its existing fleet of 124 CRJ-200 aircraft. Pinnacle's fleet size will further be adjusted under the following conditions:

-- 17 CRJ-200/440 aircraft will be delivered to Pinnacle during 2007. Northwest will commit to either a three- or ten-year term for these aircraft with Pinnacle prior to March 31, 2007. However, if Pinnacle has not entered into an amended collective bargaining agreement with the Airline Pilots Association ("ALPA"), the union representing its pilots, prior to March 31, 2007, Northwest will have an ongoing option to remove these 17 aircraft from Pinnacle at any time at a rate of three aircraft per month. Pinnacle's contract with ALPA is currently amendable.

-- To the extent that Pinnacle operates regional jets on behalf of another major airline, Northwest will have limited rights to remove some aircraft from Pinnacle's fleet. Northwest may remove one aircraft for every two aircraft that Pinnacle operates for another partner above an initial base of 20 regional jets. Northwest may remove no more than 20 aircraft subject to this option and no more than five aircraft in any 12-month period. Notably, Northwest may only exercise this option if the removed aircraft are not operated by or on behalf of Northwest after their removal.

-- Northwest may exchange CRJ-200 aircraft in Pinnacle's fleet for aircraft configured with 70 or more seats on a one-for-one basis and on similar economic terms and conditions.

-- If Northwest enters into any merger or acquisition agreement with another major air carrier prior to completing its bankruptcy proceedings, then Northwest may remove from Pinnacle's fleet the 17 aircraft to be added during 2007 plus an additional 24 aircraft. Once Northwest has completed its bankruptcy proceedings, it will no longer have this option.

Amended ASA Term[/FONT][/FONT][/FONT]

 

[CoATP]

If this is true then why isn't the bid for 50 captains? (3.5 per a/c x 17 a/c) Most airlines have more crews but 9E runs "lean". That's with no attrition.

 

[StuckMic]

Dont know you and never had the oppurtunity to fly with ya..But Im on the edge of upgrading and on the edge of bankrupcy..Just wondering what you think about this Compass deal and if its even worth a guy looking into? Or If I should hold out for upgrade at PCL, the thing is I need MSP I cant be a Comuter.

If you’re just on the edge of upgrading you will not be able to hold MSP CA for a long time (I would estimate at least 6-12 months after upgrade assuming you bid CA as soon as you can hold it). There are a bunch of DTW and MEM Captains that commute from MSP and will be bidding on any future MSP CA vacancies. Sometimes scheduling will let you sit reserve out of domicile, but I wouldn’t count on it.

 

[StuckMic]

[FONT=ARIAL, Helvetica, Geneva][FONT=ARIAL, Helvetica, Geneva][FONT=ARIAL,]Press Release Source: Pinnacle Airlines [/FONT][/FONT][FONT=ARIAL, Helvetica, Geneva]

[FONT=ARIAL, Helvetica, Geneva]-- 17 CRJ-200/440 aircraft will be delivered to Pinnacle during 2007. Northwest will commit to either a three- or ten-year term for these aircraft with Pinnacle prior to March 31, 2007. However, if Pinnacle has not entered into an amended collective bargaining agreement with the Airline Pilots Association ("ALPA"), the union representing its pilots, prior to March 31, 2007, Northwest will have an ongoing option to remove these 17 aircraft from Pinnacle at any time at a rate of three aircraft per month. Pinnacle's contract with ALPA is currently amendable.[/FONT]
[/FONT][/FONT]

What a bunch of propaganda this paragraph is. The 9E pilots better not let this empty threat by NWA management rush a vote for a crappy TA just to meet this fake deadline.

 

[Smarta$$]

What a bunch of propaganda this paragraph is. The 9E pilots better not let this empty threat by NWA management rush a vote for a crappy TA just to meet this fake deadline.

I cant imagine that any of us are taking this deadline seriously. If we lose the 17 aircraft because management wont give us the deal we require, then so be it. At the cost and reliability that we operate at, I think 17 planes is an insult when I consider how many more their were to award. We will continue to fight for a significant new contract with or without the new planes.

 

[EL10]

A new ASA has been reached with pinnacle, 17 CRJs returning to the fleet after the first of the year.

That is all nice words on paper. Those 17 are not going to 9E. They just put that out there so when the pilots don’t get a deal by March they are made out to look bad. 9E is not going to have a pilot agreement until the next President is elected. It’s another empty threat from PT and gang, but I got faith in Pinnacle Pilots to bring home a good TA.

 

[i fly boxes]

If Northwest enters into any merger or acquisition agreement with another major air carrier prior to completing its bankruptcy proceedings, then Northwest may remove from Pinnacle's fleet the 17 aircraft to be added during 2007 plus an additional 24 aircraft. Once Northwest has completed its bankruptcy proceedings, it will no longer have this option.


Good news this is the only part that scares me a little