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Thursday, August 9, 2007

PNCL In Second Stock Buy-Back

On the heels of its second quarter earnings statement Pinnacle Airlines Corp. (PNCL) launched a share repurchase program to acquire up to an additional $30 million of the company's outstanding common stock, $20 million of which is contingent on certain financings. Based on today's market closing price of $15.14, this represents approximately 2.0 million shares of common stock. In July, the Company completed a $30 million share repurchase program, acquiring over 1.6 million shares of its outstanding stock.
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