Pinnacle Airlines soars 40% on Delta agreement
Airline holding company Pinnacle Airlines Corp. (Nasdaq:PNCL) is up more 40% today after announcing after the close on Thursday it had reached an agreement with Delta Air Lines Inc. (NYSE:DAL). Under the agreement, Pinnacle Airlines Inc., a subsidiary of Pinnacle Airlines Corp., will continue to fly for Delta. The agreement is an extension to an existing contract. Earlier this year, Delta announced plans to end the contract with Pinnacle on July 31, but the extension will now go through 2017.
In today’s trading, shares of Memphis-based Pinnacle are at $5.04, up $1.41 from Thursday’s close.
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