Pinnacle to be acquired by Delta Air Lines

João Luis  - Los Angeles

Pinnacle Airlines has announced that all of its new stock issued when it emerges from chapter 11 bankruptcy protection will be issued to partner carrier Delta Air Lines for which the regional carrier currently operates 140 CRJ-200s and 55 CRJ-900s. Delta has provided Pinnacle with debtor-in-possession financing after Pinnacle filed for chapter 11 in April 2012 and has offered $52 million USD in additional capital required to allow Pinnacle to leave chapter 11. Pinnacle will end up operating 81 CRJ-900s for Delta including 40 new aircraft Delta has recently ordered from Bombardier with the 140 CRJ-200s scheduled to be retired gradually from mid-2013 to 2015.