http://money.cnn.com/news/newsfeeds/articles/apwire/D8S1788G0.htm
Pinnacle to Hold Northwest Jets Longer
Northwest Airlines to Pay Former Unit Pinnacle $1.5 Million to Hold Planes Longer Than Planned
October 02, 2007: 12:37 PM EST
NEW YORK (Associated Press) - Pinnacle Airlines Corp., which operates a regional carrier associated with Northwest Airlines Corp., said Tuesday it will receive $1.5 million for delaying the transfer of 15 regional jets to Northwest.
In a regulatory filing, Pinnacle said it will now begin transferring the Bombardier CRJ-200 aircraft, at a rate of two per month, in November to minimize the downtime before the planes enter service at Northwest. Pinnacle originally planned to start delivering the planes in September.
The Memphis, Tenn.-based airline plans to treat the $1.5 million it receives from Northwest as deferred revenue and spread it out as operating revenue through the end of the transition period, which is expected in the second quarter of 2008.
Pinnacle shares fell 34 cents, or 2 percent, to $16.32.
Deferred revenue????
I've been told that's what Phildo calls his bonuses... "deferred revenue."
uke:
Pinnacle to Hold Northwest Jets Longer
Northwest Airlines to Pay Former Unit Pinnacle $1.5 Million to Hold Planes Longer Than Planned
October 02, 2007: 12:37 PM EST
NEW YORK (Associated Press) - Pinnacle Airlines Corp., which operates a regional carrier associated with Northwest Airlines Corp., said Tuesday it will receive $1.5 million for delaying the transfer of 15 regional jets to Northwest.
In a regulatory filing, Pinnacle said it will now begin transferring the Bombardier CRJ-200 aircraft, at a rate of two per month, in November to minimize the downtime before the planes enter service at Northwest. Pinnacle originally planned to start delivering the planes in September.
The Memphis, Tenn.-based airline plans to treat the $1.5 million it receives from Northwest as deferred revenue and spread it out as operating revenue through the end of the transition period, which is expected in the second quarter of 2008.
Pinnacle shares fell 34 cents, or 2 percent, to $16.32.
Deferred revenue????
I've been told that's what Phildo calls his bonuses... "deferred revenue."
uke:
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