Pinnacle Airlines will become a wholly-owned subsidiary of Delta Air Lines once the regional carrier emerges from Chapter 11, if a new plan of reorganization filed by Pinnacle is approved by its bankruptcy court. Under the proposed restructuring, Delta, or an affiliate, will purchase Pinnacle’s equity once the Memphis-based regional exits Chapter 11. Delta, which has funded Pinnacle Chapter 11 as debtor-in-possession, will provide an additional $30 million in liquidity to the funds ...
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