ShyGuy

I've still been right so far.


Pinnacle Airlines Corp. (PNCL), the regional carrier that flies for Delta Air Lines Inc. (DAL) and others, has a “high probability” of filing for bankruptcy, according to a Maxim Group LLC analyst.

“We do not see any indicator of a significant turnaround over the next 12 months” and Pinnacle may run out of cash first, the New York-based analyst, Ray Neidl, wrote in a note to clients today. Pinnacle had $82 million in unrestricted cash on Sept. 30, according to a company statement on Nov. 3.

Pinnacle said on Dec. 8 it was seeking concessions from airline partners, aircraft lessors, debt holders and employees to lower costs. The Memphis, Tennessee-based carrier hired Seabury Group LLC, Barclays Capital (BARC) and the law firm Davis Polk & Wardwell LLP to help with those efforts. The airline fell 23 percent that day in Nasdaq trading, the most in almost three years.

The shares slid 8.9 percent to 97 cents at 4 p.m. in New York trading, extending the drop so far this year to 88 percent. Pinnacle declined to comment on its plans beyond the remarks in its Dec. 8 statement, a company spokesman, Joe Williams, said today in an e-mail.

Neidl, who made a “sell’ recommendation on Pinnacle, began his career in the aviation industry at American Airlines, where he held financial and planning positions, according to Maxim’s website. He has since covered the industry for two decades as an analyst, and was co-author of ‘‘Airline Odyssey: The Airline Industry’s Turbulent Flight into the Future” (McGraw-Hill, 1995).

PCLCREW

Full Pay to The Last Day...

I personally am in no way ready to help save this company which has paid and treated me like $%^& since day one.

CzechAirman

Why have you stayed getting treated like that? I wouldn't take being treated that way.

ShyGuy

Because the union was weak and full of those who were lifers that would vote 'yes' to a strike, but when given the chance to be released, denied it.

PCLCREW

With a statment like that you clearly dont work in the regionals or you are a new hire... either case when you get treated like crap for the first second etc etc time tell me what you would do?

I bet tail between your legs and walk away (because thats what 99% of us do)... thats about all the power we have unless you quit.

Al Czervik

This guy is some fool FO for some crap place. I saw another thread where his own guys were bagging on him.

2StgTurbine

I thought he said he was a UPS pilot?

shimmydamp

You are more concerned about your reputation as prophet of doom on an anonymous Internet bulletin board than the wellbeing of 3000 fellow pilots.

This isn't fantasy football or Las Vegas, keep your "I told you so" attitude out of a legitimate issue.

ShyGuy

Excuse you, *I* was the one who brought this impending downfall in the FIRST place, in face of all deniers!

PerpetualFlyer

You should talk to CzechAirman, sounds like you two have a lot in common...