Pinnacle Airlines Corp. (PNCL) said on Thursday that it has closed on a $10 million credit facility with Independent Bank of Memphis, Tenn.
The loan is designed to provide Pinnacle with additional working capital until it gets its 2009 federal income tax refund, estimated to be $38 million.
Separately, Pinnacle also modified its $25 million spare parts loan to reduce certain liquidity requirements.
The company's chief financial officer Peter Hunt said, "These transactions enhance our liquidity and put us in a stronger financial position for 2010."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.