Pinnacle Airlines gets exclusivity extension to avoid premature plan

By Caroline Salls

Pittsburgh, July 17 - Pinnacle Airlines Corp. received a 180-day extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company's exclusive filing period was extended to Jan. 25, 2013 from Sept. 28 and the solicitation period to March 27, 2013.

The company said in the motion that it needs the additional time "to avoid the necessity of having to formulate a plan of reorganization prematurely and to ensure that their plan of reorganization best addresses the interests of the debtors, their employees, creditors and estates."

Pinnacle, a Memphis, Tenn.-based operator of a regional airline, filed for bankruptcy on April 1. The Chapter 11 case number is 12-11343.

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