Pinnacle Airlines Corp. is continuing to try to negotiate a 5% pay cut for all of its union employees and might need an answer this month to avoid filing for bankruptcy protection. The proposed pay cut is part of a broader cost-cutting effort by the holding company for U.S. regional carriers Pinnacle Airlines, Colgan Air and Mesaba Aviation, which lost $8.8 million in the first nine months of 2011 and said in November that it would be trying to modify its agreements with mainline airline ...
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