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Pinnacle Airlines prices public offering at USD14.

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Pinnacle Airlines, Northwest Airlines' regional affiliate, has reportedly priced its initial public offering at USD14.

However, the airline will not receive any of the proceeds from the offering as Northwest Airlines pension plans are offering 19.4m common shares for the offering. Northwest Airlines contributed the stock to the pension plans in lieu of about USD350m cash.

The pension plan now holds about 90% of Pinnacle Airline's common shares, reported The Associated Press.

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Publication:Airline Industry Information
Geographic Code:1USA
Date:Nov 25, 2003
Words:93
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