Pinnacle and Delta agree to reorganisation plan extension

San Diego
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Pinnacle Airlines and Delta Air Lines have agreed to extend the regional carrier's deadline to file a reorganisation plan with the US bankruptcy court.

Memphis-based Pinnacle has until either 31 January 2013 or 30 days after it receives court approval for its section 1113 motions to reject its labour contracts, whichever is earlier, according to a stock exchange filing on 27 December.

Delta modified its credit agreement with the regional airline for $74.3 million in secure debtor-in-possession financing as part of the extension.

Pinnacle's previous deadline to file a reorganisation plan with the court was 30 December.

The carrier announced that it had reached a new agreement with Delta to operate 81 76-seat Bombardier CRJ900s and remove all of is 140 50-seat CRJ200s during the next two to three years, earlier in December.