MEMPHIS, Tenn., April 6, 2012 /PRNewswire/ -- Pinnacle Airlines
Corp. (NASDAQ: PNCL) today announced that the United States
Bankruptcy Court for the Southern District of New York has entered an order that imposes
substantial restrictions on trading in equity interests in and debt
claims against Pinnacle Airlines Corp. and affiliates. A copy
of the order may be found at the following internet address:
http://dm.epiq11.com/PinnacleAirlines. Questions regarding the
order may be directed to representatives of the debtors at the
following telephone number: 212-450-4000. The case number for
the bankruptcy action is 12-11343.
(Logo: http://photos.prnewswire.com/prnh/20110112/CL29411LOGO
)
Davis Polk & Wardwell LLP and
Akin Gump Strauss Hauer & Feld LLP are serving as the company's
legal advisors in the restructuring. Barclays Capital and Seabury
Group LLC are serving as financial advisors.
About Pinnacle Airlines Corp.
Pinnacle Airlines Corp. (NASDAQ: PNCL), a $1 billion airline holding company with 8,000
employees, is the parent company of Pinnacle Airlines, Inc. and
Colgan Air, Inc. Flying as Delta Connection, United Express and
US Airways Express, Pinnacle Airlines Corp. operating
subsidiaries operate 199 regional jets and 62 turboprops on more
than 1,540 daily flights to 188 cities and towns in the United States, Canada, Mexico and Belize. Corporate offices are located in
Memphis, Tenn., and hub operations
are located at nine major U.S. airports. Visit www.pncl.com for
more information.
Forward-Looking Information
This press release contains "forward-looking statements."
These statements are based on management's current expectations and
assumptions, and as such involve a number of risks, uncertainties
and other factors that could cause actual results to differ
materially from those that the Company now anticipates -- both in
connection with the Chapter 11 filings the Company is announcing
today and the Company's business and financial prospects.
Statements of management's expectations, including its desire to
successfully restructure in order to return the Company to long
term viability and financial strength, to compete effectively in
the marketplace, to cut costs and to restore profitability, are
based on current assumptions and expectations. No assurance can be
made that these events will come to fruition. Readers are referred
to the documents filed by the Company with the Securities and
Exchange Commission, which further identify the important risk
factors which could cause actual results to differ materially from
the forward-looking statements in this release. The Company
disclaims any obligation to update any forward-looking
statements.
Contacts
Media:
Joe Williams
Pinnacle Airlines Corp.
901-346-6162
mediarelations@pncl.com
Michael Freitag / Nick Lamplough
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
Investors:
Ron Kay
901-344-5705
investorrelations@pncl.com
SOURCE Pinnacle Airlines Corp.