Memphis-based Pinnacle Airlines has filed for bankruptcy. Pinnacle operates regional carriers like Delta Connection and United Express. In a news release, the airline says it will stop United Express service by August, although its other operations will continue.
CEO Sean Menke says Pinnacle’s business model is unsustainable and that bankruptcy is the only way the company can chart a new course. Delta Air Lines has given Pinnacle a 74 million dollar loan to help it continue operating during the bankruptcy process. Pinnacle has 8,000 employees and operates 1,500 flights daily.
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