Colgan Air

Pinnacle's dismal 3Q with USD13m negative swing continues poor outlook for regionals

The impact of the changes in legacy-regional relationships, illustrated in stark relief by SkyWest Airlines on 02-Nov-2011, was shown again on 03-Nov-2011 when Pinnacle Airlines Corp posted a third quarter loss of USD3.5 million. The loss was a USD13 million swing from 3Q2010 when it earned USD9.4 million. It also projected a loss in the fourth quarter, with expectations for a loss in 2012.

Projections had expected a profit on USD317-328 million in revenues. It did meet revenue expectations posting consolidated operating revenue of USD319.8 million, a 5.8% increase largely owing to the increase in Q400 operations as well as a year-on-year increase in United Express rates.

Pinnacle gains on Mesaba acquisition

After Pinnacle Airlines Holdings executives promised its acquisition of Mesaba would be immediately accretive, they were proved right as the new subsidiary generated USD3.1 million in the third quarter and EBITDA of USD4.4 million, consistent with expectations and targets under its purchase agreement with Delta.

Pinnacle maintains profitability, but net earnings ease in 2Q2010

Pinnacle profits declined in 2Q2010 to USD5.8 million from USD5.9 million in 2Q2009. Consolidated operating income came in at USD19.8 million in the second quarter, declining USD3.9 million from a year ago.

US airline mergers: some things never change

"If the major airlines pare down to three, as industry analysts predict,...Americans would face fewer choices, worse service and higher prices."

Congressman James Oberstar, Chairman, House Transportation and Infrastructure Committee