Originally Posted by
jethikoki
As rumors go so maybe its wrong but I was told DAL also held back payments to PNCL knowing it would force them into bankruptcy.
The truth is quite the opposite. Delta gave PNCL management bridge financing. Again, it goes to the point that Delta was not "shutting you down."
Originally Posted by PRN Newswire
MEMPHIS, Tenn., May 16, 2012 /PRNewswire/ -- Pinnacle Airlines Corp. (OTCMarkets.com: PNCLQ) today announced that it has received final approval from the United States Bankruptcy Court for the Southern District of New York for $74.3 million in debtor-in-possession (DIP) financing. The funding is being provided by Delta Air Lines, Inc.
Pinnacle Airlines Debtor-In-Possession Financing Approved -- MEMPHIS, Tenn., May 16, 2012 /PRNewswire/ --
Pinnacle bankruptcy, Delta bailout tells tale of current airline industry - Memphis Business Journal