About Pinnacle Pilots:

More than 1,300 pilots fly for Pinnacle
Airlines Inc. Pinnacle Airlines pilots are members of the Air Line Pilots
Association, International (ALPA), which represents more than 56,000 pilots
worldwide. Pinnacle’s corporate headquarters are in Memphis, TN with hubs at
Atlanta Hartsfield International Airport, Detroit Metropolitan Wayne County
Airport, Memphis International Airport and Minneapolis–St. Paul International
Airport.

Pinnacle pilots operate approximately
140 CRJ-200 and CRJ-900 Regional Jets for both Northwest Airlines and Delta
Airlines as Northwest Airlink and Delta Connection respectively. Pinnacle
Airlines operates over 30% of all Northwest Airlines flights and a growing
number of Delta Airlines flights. Pinnacle pilots operate over 800 flights per
day to destinations throughout the United States, Canada and the Caribbean.

About Pinnacle Airlines:

Pinnacle Airlines was founded in
February 1985 as the privately owned Express I Airlines. Express 1 began its
first code share agreement with Republic Airlines based in Memphis, TN. Within 6
months Express I Airlines, operating as Republic Express, operated 9 Bae
Jetstream 31 and 2 Saab 340 turbo prop aircraft in 10 different markets.

In December 1985, Express I expanded
its base of operations to Minneapolis-St. Paul. By its first anniversary,
Express 1 was operating 20 Jet Stream 31 and 7 Saab 340 aircraft to 32 different
markets. Soon after, Northwest Airlines announced it’s intent to acquire
Republic Airlines. Throughout the next decade Express 1 - now operating as
Northwest Airlink - continued to expand its operations growing to serve almost
60 different destinations.

In 1997, Northwest Airlines acquired
Express I Airlines thereby making Express I Northwest’s wholly owned subsidiary.
On May 7, 1999, Express I announced its transition into the jet age as Northwest
Airlines announced that Express 1 would be the launch operator of the Bombardier
Canadair Regional Jet (CRJ). This award was for a minimum of 42 CRJs designated
to operate as Northwest Jet Airlink. Delivery of the CRJs began in April 2000
and the first Northwest Jet Airlink/Express I CRJ lifted into the sky on June 1,
2001.

Express I Airlines changed its name to
Pinnacle Airlines, Inc. on May 8, 2002. In November 2003, Pinnacle Airlines
became a publicly traded company using the symbol PNCL on the NASDAQ. Pinnacle’s
contract with Northwest Airlines now called for Pinnacle to fly 124 CRJ's on
behalf of Northwest Airlines. On July 18, 2004, the very first Pinnacle CRJ was
re-christened the “Spirit of Memphis Belle”, in honor of a WWII B-17 bomber that
was paid for with funds raised by the African-American community in Memphis. The
100th CRJ was later christened "Spirit of Beale Street" in honor of Pinnacle's
hometown.

On January 4, 2008, Pinnacle took the
last step in becoming fully independent with the purchase of its Class A
Preferred stock from Northwest Airlines.

Pinnacle’s Future:

On December 21, 2006, Pinnacle Airlines
signed a new Air Services Agreement (ASA) with Northwest Airlines further
assuring Pinnacle’s future. The new ASA ensures Pinnacle’s operation of at least
124 CRJ's until at least 2017. Although the ASA permits Northwest to reduce the
number of CRJ-200 aircraft operated by Pinnacle, they must be exchanged for
aircraft with 70 seats or greater on a one for one basis.

Part of the new ASA included a
provision that allowed for Northwest Airlines to remove up to 17 CRJs from
Pinnacle’s fleet if Pinnacle Airlines managements and its pilots represented by
ALPA failed to sign a new labor contract by March 31, 2007. Since this deadline
passed with no new pilot contract, in November 2007, Northwest began exercising
their right to remove 17 CRJs from Pinnacle’s fleet. Although these aircraft are
being removed from service at a rate of approximately two aircraft per month,
Pinnacle’s core fleet of CRJs can not be reduced below 124 aircraft per the
terms of the Air Services Agreement.

The new ASA with Northwest allowed
Pinnacle to seek flying from other carriers. On April 30, 2007, Pinnacle
Airlines signed a 10 year Air Services Agreement with Delta Airlines to be a
Delta Connection carrier. The terms of the ASA call for Pinnacle to initially
operate 16 CRJ-900 aircraft. Delivery of the aircraft began in November 2007 and
the deliveries are scheduled to be complete by July 2008. The 16 aircraft are
based out of the Atlanta Hartsfield International Airport and began service to
destinations in the United States, Canada and the Caribbean in December 2007.

In January 2007, Pinnacle Airlines
acquired regional operator Colgan Air. In January 2008, Pinnacle's new
subsidiary Colgan Air started flying out of Newark Liberty International Airport
as Continental Connection operating 74-seat Bombardier Q400 turboprops. Colgan
Air flights are operated by Colgan Air and are not flown by Pinnacle Airlines
pilots. In March 2008, an independent arbitrator ruled that Pinnacle Airlines
violated Pinnacle Airlines pilots’ contractual rights when it refused to
negotiate job protection with the Pinnacle Airlines pilots related to the
acquisition of Colgan Air. In December 2008, the pilots of Colgan Air voted
overwhelmingly in favor of union representation by the Air Line Pilots Associations (ALPA) -
the same union that represents Pinnacle Airlines pilots. The successful certification
of ALPA at Colgan Air was a result of much hard work and close collaboration
between the ALPA union leaders of Pinnacle Airlines and the Colgan Air
ALPA Organizing Committee. The ALPA leadership at both Pinnacle Airlines and
Colgan Air look forward to a strong, productive and united working partnership in order
to achieve a fair and equitable labor contract from Pinnacle Airlines management.