Just after it reached agreement with Northwest (NWACQ) allowing it to develop feeder services for other major carriers, Pinnacle Airlines Corp. (PNCL) announced its acquisition of Masassas, Va-based Colgan Air, Inc., which operates as a Continental Express, United Express and USAirways Express in the east. Pinnacle, the parent company of Pinnacle Airlines, Inc., a regional airline doing business as Northwest Airlink, will pay $20 million for all of the issued and outstanding capital stock of Colgan Air, with $10 million in the form of an immediate cash payment and $10 million in the form of a one-year note secured by the stock of Colgan Air. The acquisition will be completed today subject to any applicable regulatory review. For an analysis see the January 22 issue of Regional Aviation News.