Delta to exit contract with Pinnacle
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Pinnacle Airlines Corp. shares fell after the carrier disclosed that Delta Air Lines Inc. planned to cancel its flying contract with the regional carrier because of persistent late arrivals.
Pinnacle called the move against it by Delta “wrongful,” saying its on-time performance had been hurt by factors beyond its control. Pinnacle, based in Memphis, Tenn., said it planned to pursue “appropriate remedies,” though it wasn’t more specific.
The move by Delta would affect nearly 5% of the fleet maintained by Pinnacle, which operates the Pinnacle airline and Colgan Air.
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