Pinnacle Airlines ended the third quarter with $81.8 million in unrestricted cash and cash equivalents, down from $126.7 million in last year's corresponding period.
During the three-month period to 30 September 2011, the company generated $11.4 million in cash from operating activities, used $4.7 million net cash in investing activities and used $13.7 million net cash used in financing activities, primarily related to scheduled payments on debt obligations and capital leases.
In the third quarter of 2010, Pinnacle generated $59.6 million in cash from operating activities, which was boosted by the acquisition of Mesaba. Net cash used in investing activities for the three months ended September 30, 2010 was $200,000, while Pinnacle used $11.7 million net cash in financing activities.
For the third quarter, Pinnacle posted a $3.5 million net loss, reversing a $9.4 million profit in last year's corresponding period.