Pinnacle Airlines Corp. Announces Expansion of Partnership With Continental Airlines
 

I figured I start this one since the last one was about the letter "e" now...weird...anyhow here is the link good job SPOOLED...you should be a reporter on how you get the scoop early...

Pinnacle Airlines Corp. Announces Expansion of Partnership With Continental Airlines: Financial News - Yahoo! Finance


Pinnacle Airlines Corp. Announces Expansion of Partnership With Continental Airlines
Thursday January 15, 8:00 am ET
Exercises Options on 15 Q400 NextGen Aircraft
MEMPHIS, TN--(MARKET WIRE)--Jan 15, 2009 -- Pinnacle Airlines Corp. (PNCL) (NasdaqGS:PNCL - News) announced today that it has entered into an agreement with Continental Airlines to increase the number of Q400 aircraft operated by Colgan Air, Inc. ("Colgan"), PNCL's wholly owned subsidiary, as a Continental Connection carrier. Colgan will purchase and take delivery of 15 additional Q400 aircraft to be operated under the capacity purchase agreement (the "CPA") between Continental Airlines and Colgan. The aircraft will be delivered between August 2010 and April 2011.
"We are grateful for the confidence Continental Airlines places in our People and the Q400," said Philip H. Trenary, President and Chief Executive Officer of Pinnacle Airlines Corp. "The Q400 is a perfect addition for Continental and a financially sound move for Colgan as we grow our fleet to compete in a cost-conscious environment."
Each aircraft will be operated for a period of ten years under the CPA subject to the existing rates, terms and conditions of the CPA, provided that certain rates paid to Colgan will increase commensurate with the increase in the purchase price of the aircraft. Upon delivery of these aircraft, Colgan will operate 30 Q400 aircraft under its CPA as a Continental Connection carrier.
In connection with this transaction, PNCL has arranged for a financing commitment from a lender to finance up to 85% of the purchase price of each aircraft and to finance most predelivery payments required to be made to the manufacturer between now and the time of delivery. All cash payments that are required to be made to the manufacturer prior to the second quarter of 2010 will be financed subject to this financing commitment. The financing commitment contains standard provisions related to PNCL's financial condition that must be met prior to requesting draws. In addition, PNCL expects to pursue lease financing to reduce its capital requirements associated with the acquisition of these aircraft.
PNCL also obtained 15 optional delivery slots exclusively for Continental for Q400 aircraft delivering in 2013, subject to PNCL obtaining commercially reasonable financing for the option aircraft. PNCL still retains 15 options for Q400 aircraft delivering in 2011 that it may market to other major U.S. airlines.
The Q400 seats 74 passengers, but consumes about 25 percent less fuel than a 76-seat jet, making it more environmentally friendly. The noise and vibration canceling technology make this turboprop ride more like a jet. Its capabilities provide real advantages in congested areas such as Newark and LaGuardia airports. These 15 aircraft will be configured with the Q400 NextGen cabin interior, which includes larger overhead storage bins, improved lighting, and modifications to increase the size of the cabin to enhance passenger comfort.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (NasdaqGS:PNCL - News), an airline holding company, is the parent company of Pinnacle Airlines, Inc. and Colgan Air, Inc. Pinnacle Airlines, Inc. operates a fleet of 139 regional jets in the United States, Canada, the Bahamas, Mexico, U.S. Virgin Islands, and Turks and Caicos Islands as Northwest Airlink and Delta Connection. Colgan Air, Inc. operates a fleet of 51 regional turboprops as Continental Connection, United Express and US Airways Express. Pinnacle Airlines Corp. operating units fly over 1,000 daily flights and transport 13 million passengers a year to 144 cities and towns in North America. The corporate headquarters is located in Memphis, Tenn. Airport hub operations are located in Atlanta, Boston, Detroit, Newark, Washington Dulles, Houston, LaGuardia, Memphis and Minneapolis. Visit www.pncl.com for more information.

2010.. that gives us plenty of time to merge seniority lists and become one pilot group.

Though I am sure it may mean less flying for XJT, its more flying for an ALPA Carrier :)

Could of went to SkyWest, CHQ etc............


I agree with Air Support, they are making all this money, expanding etc, its time they got their act together with the two airlines becoming ONE

disregard...

Yea tell that to ASA and Skywest.... Sometimes I just cant wrap my head around why management does some of the things they do.... Congrats to Colgan....

Yeah I think most of us are ready for an equal and fare merger...a percentage thing like DAL/NWA seems the best way IMHO with a 2-3yr fence? Any consenses over at PNL pilot group on what kinda merger you guys would like to see?

the difference is that skywest maintains 2 different headquarters. pinnacle is closing the colgan headquarters in va and moving everything to memphis. at that point the unions can file for single carrier status which will allow us to merge seniority lists.


i know pretty much everyone over here wants it. put an end to the chance of a whipsaw.

i have a few questions for the colgan guys

how many pilots do you guys have right now

how long has the most senior pilot been there

what is the average seniority there

for example i have been at pinnacle a little over 3 years now. i would say 5 years is average and we have 1340 pilots on the seniority list.

About 500 give or take a few with our out of date seniority list

Most senior goes back over 10 years but the average CA is a 2005 hire

The median would be about 2 years but the average is a little lopsided because we have increased the group by 40% in the last 2 years

I have been at Colgan for almost 2 years and I have 52% of the group below me because of the big Q hiring spree. I am for a merged list with fences so that all of us FO's who have waited can get their upgrade and furture FO's will have the opportunity to fly whatever aircraft they can hold down the road. 2-3 year fence would be great.

[QUOTE=Airsupport;538160]the difference is that skywest maintains 2 different headquarters. pinnacle is closing the colgan headquarters in va and moving everything to memphis. at that point the unions can file for single carrier status which will allow us to merge seniority lists.




i know pretty much everyone over here wants it. put an end to the chance of a whipsaw.

i have a few questions for the colgan guys

how many pilots do you guys have right now

how long has the most senior pilot been there

what is the average seniority there

for example i have been at pinnacle a little over 3 years now. i would say 5 years is average and we have 1340 pilots on the seniority list.[/QUOTE


I think around 470 or so but add about 150 for those new ac. Around the top 5-10 guys 10 years....but most senior guys on the Q id say 4-6yrs. I dont think DOH would be fair in terms of colgan guys havent been around as long and a percentage merger wouldnt really change much for anyone. Dumping use in with you guys is like mixing in a teaspoon of surger in a cup of flour...not much of an impact.

My understanding of a percentage would go something like this. If im at colgan holding 20percent than after the merger I would still be in the top 20percent of the entire list.
There would be around 1800-1900 pilots total and if your holding CA at either airline nothing would change. Especially with some sort of fence in place for a couple of years.

Personally I dont think many guys would want to go from one AC or the other inless it was QOL issues (better base for commute). Jumping on PNCL and talking with you guys I get the feeling that the pilot groups are a lot alike and have some of the same work issues..........

Why on earth would the brand of the union matter? And you guys want to complain about RAH's 70 seat FO pay...........