Pinnacle Airlines flies into bankruptcy
3 April 2012Pinnacle Airlines filed for bankruptcy protection this week, as the U.S. regional airline fell victim to high fuel prices and dampened travel demand that has negatively impacted some of the major players in the industry.
In the past, upon facing financial trouble, United Airlines and Delta Air Lines have taken the Chapter 11 route to cut costs and later found merger partners. AMR Corp, the parent of American Airlines, had also filed for bankruptcy late last year.
source: Reuters
