Pinnacle Airlines to divest 140 CRJ200s, operate 81 CRJ900s

Delta Connection CRJ200. Courtesy, Pinnacle Airlines

Pinnacle Airlines and its subsidiaries have reached agreements on a plan for emerging from Chapter 11 bankruptcy protection.Under the strategy it will operate a fleet of 81 two-class Bombardier CRJ900s for Delta Air Lines, removing its 140 CRJ200s from service over the next two to three years.
Pinnacle will receive Delta Connection's next 40 CRJ900s, with deliveries planned to begin in the fall of 2013 and completed by the end of 2014.
“The reorganization plan will provide for Delta or an affiliate to acquire the equity in the reorganized Pinnacle Airlines Corp. after it emerges from bankruptcy,” Pinnacle said in a statement. “Pinnacle must file a plan of reorganization acceptable to Delta and the Creditors' Committee by Feb. 15, 2013.”
Agreements reached between Pinnacle, Delta, the Air Line Pilots Association (ALPA) and the Official Committee of Unsecured Creditors include an amendment to provide Pinnacle with $30 million of liquidity to support continued operation during its restructuring and $22 million for payments to Pinnacle pilots.
A bridge agreement will provide transitional payments, furlough benefits and career opportunities at Delta to Pinnacle's pilots and a letter of agreement will amend Pinnacle's collective bargaining agreement with the ALPA pilots. The bridge agreement and letter of agreement are subject to ratification by ALPA membership by Jan. 15.
Pinnacle Airlines flight attendants ratified a tentative agreement on concessions to emerge from Chapter 11 in November.