Pinnacle Airlines Corporation was an American
holding company headquartered in
Memphis, Tennessee, and was the
parent company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
of
Pinnacle Airlines
Endeavor Air is an American regional airline that operates as Delta Connection for Delta Air Lines. The airline was founded as Express Airlines I in 1985 and was renamed Pinnacle Airlines in 2002. In 2012, Pinnacle's parent company filed for Cha ...
and
Colgan Air
Colgan Air was an American certificated regional airline subsidiary of Pinnacle Airlines Corp. The headquarters of Colgan Air were located in Memphis, Tennessee.
Colgan Air operated for Continental Express/United Express, and US Airways Expre ...
until Colgan was closed down in 2012. The company contracted its airlines to fly in the
aircraft livery of other airlines such as
Delta Air Lines and
United Airlines. The company filed for bankruptcy protection under
Chapter 11 in 2012 and emerged from Chapter 11 in 2013 as a wholly owned subsidiary of
Delta Air Lines.
The company's only surviving airline, Pinnacle, became
Endeavor Air.
History
In the late 1990s,
Northwest Airlines owned a subsidiary, Express Airlines I, Inc., that it wanted to break off as a separate entity. Pinnacle Airlines Corporation was created in January 2002 to hold the airline, which would be renamed Pinnacle Airlines, Inc. The changes took place on May 8, 2002. In November 2003, Pinnacle Airlines Corporation became a publicly traded company, using the
ticker symbol PNCL on
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
.
In 2007, Pinnacle acquired
Colgan Air
Colgan Air was an American certificated regional airline subsidiary of Pinnacle Airlines Corp. The headquarters of Colgan Air were located in Memphis, Tennessee.
Colgan Air operated for Continental Express/United Express, and US Airways Expre ...
, which continued to operate independently of Pinnacle Airlines, Inc. The acquisition of Colgan Air was a $20 million strategic move in order to gain access to Colgan’s partners,
Continental Airlines
Continental Airlines, simply known as Continental, was a major United States airline founded in 1934 and eventually headquartered in Houston, Texas. It had ownership interests and brand partnerships with several carriers.
Continental started o ...
,
United Airlines and
US Airways.
On July 1, 2010, Delta Air Lines sold
Mesaba Airlines to Pinnacle in a $62 million transaction. Mesaba's fleet consisted of 41 CRJ-900s, 18 CRJ-200s, and several Saab 340 aircraft. After acquisition, Pinnacle merged all three subsidiary airlines into one. All pilots flying for Mesaba and Colgan eventually became pilots for Pinnacle Airlines, Inc.
On 1 April 2012, Pinnacle Airlines Corporation and subsidiaries filed for
bankruptcy protection under
Chapter 11 of the United States Bankruptcy Code.
The airline subsidiaries discontinued all operations of Saab 340 and Bombardier Q400 turboprop aircraft by the end of November 2012.
On May 1, 2013, Pinnacle Airlines Corporation emerged from chapter 11 reorganization as a wholly owned subsidiary of
Delta Air Lines.
The company's main airline, Pinnacle Airlines, Inc., was renamed to
Endeavor Air on August 1, 2013
[ and the holding company ceased to exist.
On September 27, 2018, former Pinnacle Airlines CEO Philip Trenary was shot dead in Memphis.
]
Headquarters
Pinnacle Airlines Corp. had their headquarters in Memphis, Tennessee, near the airport, inking a 13-year lease to become the anchor tenant in the 29-story office tower.
In 2010 Pinnacle Airlines Corp. considered moving its headquarters to Downtown Memphis and to Olive Branch, Mississippi in Greater Memphis. Pinnacle selected One Commerce Square in Downtown Memphis. The Center City Commission, the City of Memphis, and Shelby County gave out $10 million in incentives, including free parking, to convince Pinnacle to move to Downtown Memphis.[Risher, Wayne.]
Pinnacle's decision to move Downtown lifts hopes for other development
" '' The Commercial Appeal''. October 8, 2010. Retrieved on October 8, 2010.
References
External links
Pinnacle Airlines Corp.
(Archive)
{{Airline holding companies of the United States
Airline holding companies of the United States
Companies based in Memphis, Tennessee