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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.