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Monday, January 7, 2008

Pinnacle Completely Independent

Pinnacle Airlines Corp. has purchased its Class A Preferred Share from Northwest Airlines Corp. at a purchase price of $20 million. The purchase is in accordance with the Airline Service Agreement between Pinnacle and Northwest agreed to a year ago.
"This is the last step in the process of becoming independent that began with our IPO in 2003, and well-positions us to take advantage of future opportunities,” said Philip H. Trenary, Pinnacle's president and chief executive officer. “We remain firmly committed to Northwest Airlines, our largest customer." Pinnacle's contract with Northwest runs through 2017.
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