Pinnacle Airlines Corp. initiated a new share repurchase program to acquire up to $30 million of the company's outstanding common stock. Based on today's market closing price of $16.72, this represents approximately 1.8 million shares of common stock. "A share repurchase program will complement Pinnacle's recently announced growth initiatives," said Phil Trenary, Pinnacle's president and chief executive officer. "Our strong balance sheet and liquidity provide us the opportunity to invest in our new partnerships with Continental Airlines and Delta Air Lines, while also pursuing repurchases of our common stock. The combination of earnings growth and the commitment to return excess capital to shareholders provides a strong foundation for increasing shareholder value over the long-term."