Pinnacle's 2010 profit falls 70% as winter storms lead to fourth-quarter loss

Pinnacle Airlines Corp., the Memphis-based parent of regionals Pinnacle Airlines, Colgan Air and Mesaba Aviation, reported net income of $12.8 million in 2010, down 69.5% from a $41.9 million profit in 2009. A $4.3 million loss in the December 2010 quarter driven by severe winter weather, reversed from a $5.6 million profit in the 2009 fourth quarter, closed out a busy year in which the company expanded through acquisition.