Pinnacle Seeks Bankruptcy to End United, US Airways Services
This article is for subscribers only.
Pinnacle Airlines Corp., which provides regional flights for Delta Airlines Inc. and United Continental Holdings Inc., sought bankruptcy protection after costs rose and revenue declined.
The airline, based in Memphis, Tennessee, listed assets of $1.5 billion and liabilities of $1.4 billion in the Chapter 11 filing in U.S. Bankruptcy Court in New York yesterday. As it restructures, Pinnacle said it will reevaluate agreements with United and US Airways Group Inc.