Pinnacle's Liquidation Fears Fade As Financing Arrives

Law360, New York (January 16, 2013, 8:36 PM EST) -- A New York bankruptcy judge on Wednesday approved a group of deals with creditors, pilots and Delta Air Lines Inc. that will provide regional carrier Pinnacle Airlines Corp. an extra $52 million in loan financing that will save it from being forced to liquidate.

U.S. Bankruptcy Judge Robert E. Gerber’s approval of the agreements will enable the Memphis, Tenn.-based carrier to implement a long-term business plan that includes a transition to the operation of 81 fuel-efficient, two-class regional jets for Delta.

Pinnacle had about $30.2 million...
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