Pursuits
Pinnacle Has ‘High Probability’ of Bankruptcy, Maxim Says
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Pinnacle Airlines Corp., the regional carrier that flies for Delta Air Lines Inc. 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.