Stakes for Pinnacle Airlines high as it moves to restructure debt, cut costs The Commercial Appeal
"... Philip Trenary, who stepped down March 24 with a two-year consulting contract in hand from the airline. It will pay him $1.7 million. (plus seperation)
Trenary said he voluntarily quit the job (Ha!), which paid $808,600 in salary and bonus in 2010 (sean gets more!), plus $760,000 in stock awards and options. . .
Unless the airline enters bankruptcy, several analysts doubt Menke will break the new labor deals reached with flight attendants and pilots.
"The pilots still aren't overpaid by any stretch of the imagination," Becker said.
About 40 percent of the 1,300 pilots and first officers earn less than $30,000 per year, according to the Air Line Pilots Association union in Washington.
What's likely, analysts say, is that Delta will hand over more cash to keep Pinnacle flying. (lets hope that this is what it is all about)
At the same time, the Memphis carrier may order 70-seat regional jets and park the less-efficient 50-seaters that make up the bulk of its fleet and drive up costs. (umm, scope)