On July 30, 2009, Pinnacle Airlines Corp. and its operating subsidiaries (collectively, the "Company"), entered into a three-year term loan financing for $25 million (the "Term Loan") with C.I.T. Leasing and funded by CIT Bank. The Term Loan is secured by the Company's pool of spare repairable, rotable and expendable parts and certain aircraft engines. The interest rate for the Term Loan is a variable rate, which for the first interest period is indexed to LIBOR and was 8.5% on the effective date. The Term Loan requires that the Company maintain a minimum liquidity level at the end of every month and at specified times preceding the maturity date or call date of certain other indebtedness. The Term Loan also has standard provisions relating to the Company's obligation to timely repay the indebtedness and maintenance of the collateral base relative to the outstanding principal amount of the borrowing.

On August 5, 2009, Pinnacle Airlines Corp. announced that Pinnacle Airlines, Inc. had entered into a tentative agreement to amend its collective bargaining agreement with the Air Line Pilots Association (ALPA), the union representing its pilots. If ratified by the pilots, the agreement will become amendable five years from the date the final agreement is executed. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

(c) Exhibits:

Exhibit
Number    Description

99.1      Press release issued by Pinnacle Airlines Corp.
          dated August 5, 2009