Pinnacle Airlines Corporation (PNCL) and its operating subsidiaries, Pinnacle Airlines, Inc. and Colgan Air, Inc., have announced steps to manage costs in 2009.
Pinnacle Airlines, Inc. will restructure some operations in response to economic conditions and changes resulting from the Delta–Northwest merger. This will result in the elimination of some positions that the airline expects will impact between 30 and 50 people at various locations. Employees who are impacted may apply for open positions.
Executive and senior management at both PNCL and Pinnacle Airlines – directors and above – will take a pay freeze for 2009.
The company is suspending the 401(k) company match for 2009 with the hope of reinstating it in 2010, depending on business and US economic conditions.
Pinnacle Airlines, Inc. says it is taking these steps "so that we can remain competitive. For us to win new business, we have to be cost-competitive and be at the top of the industry in operational performance".
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This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
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