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Pinnacle Airlines


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Does anyone here still own this company?


IMO, it starts to look pretty good. Issues are pretty much being all fixed: pilots agreement, auction rate securities, cash to pay the convertible, deal with Northwest/Delta a while ago. There is still this crash investigation, but I assume that most will be covered via insurance.


It looks pretty cheap on a P/E basis and if the recession is truly over, then business should get better. Of course, the new pilots agreement will raise costs, but not to the extent of destroying current earnings.


I was curious as to what you all think. The stock is up a lot from the bottom in March, but still down relative to when it was discussed heavily on the old board or when they were trying to renegotiate their ASA with Northwest. In other words, going forward this may still be a huge opportunity.



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