Pinnacle Airlines Corp. reported a rapid rise in airline passengers flying with Pinnacle in February and also in recently announced year-to-date figures. Pinnacle flew 1.25 million airline passengers in February, up 45 percent compared to February 2010.
Pinnacle also reported 2.6 million passengers boarding their aircraft year-to-date, up 44 percent compared to 1.8 million in the same year-ago period.
Pinnacle acquired Mesaba on July 1 for $62 million. The company also owns Pinnacle Airlines Inc. and Colgan Air Inc.
It currently has more than $1 billion in annual revenue and 7,700 employees.
Pinnacle also announced that its longtime president and CEO Phil Trenary would be stepping down March 24.
During his tenure, Pinnacle has grown from a $78 million airline with 36 turboprops to a fleet of nearly 300 jets and turboprops and revenues surpassing $1 billion last year for the first time. Trenary oversaw the acquisition of Colgan Air in 2007 and Mesaba Airlines in 2010.
The three airlines operated under the Pinnacle Airlines Inc. banner, Pinnacle, Mesaba and Colgan airlines, fly as Delta Connection, United Express and US Airways Express.
Pinnacle board chairman Donald Breeding will become interim CEO until a successor is found.