Pinnacle Airlines -- which operates as Continental Express, Delta Connection and United Express -- is reorganizing under Chapter 11 of the federal bankruptcy code.
Pinnacle's Delta Connection service carried more than 14,000 passengers in and out of Raleigh-Durham International Airport in February, according to airport spokeswoman Mindy Hamlin.
Based in Memphis, Tenn., Pinnacle listed assets of $1.5 billion and liabilities of $1.4 billion, according to Bloomberg News. The airline plans to halt United Express flights by Aug. 1 but is continuing its Delta Connection and Continental Express services.
Pinnacle obtained a $74.3 million loan from Delta Air Lines so that it can maintain operations while it reorganizes, Bloomberg reported. You can read the Bloomberg News story here.
David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or