Jump to content

Good news for Pinnacle Airlines


Recommended Posts

I saw this filing on the SEC website after close on Friday, but not in any news release:




This removes two big uncertainties:


1- The Auction Rate Securities story is now settled with cash in hand at roughly what they carried them at on their balance sheet (about $3 million less) and we retain any potential upside between this settlement value and an eventual return to par for 3 years.


2- This liquidity issue fear should now disappear with enough cash left after the repayment of $78 million in par amount of their convertible and loan to Citigroup to pay all obligations remaining (rest of convert, pilot bonus, Colgan relocation, some capital leases) other than EDC loans which are secured by their Q400's and CRJ900's.



Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...