Originally Posted by
sailingfun
On their last published yearly financial statement they report 1.4 billion in owned assets.
... and yet no one on God's green Earth would lend them a nickel.
Reading through the bankruptcy filing makes one wonder who wrote it. Delta has as much or more operational control over Pinnacle as it does Delta. Bet our Flight Ops does not report a weekly budget.
Kinda funny ... an off the books subsidiary, that isn't.
At least the CRJ900's give Delta management something to swap with Skywest to park some of the early model 50 seaters. Management probably got that flexibility more cheaply from the Pinnacle implosion than what they would have had to pay ALPA to get it out of Section 1B40.