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Syndicate
Colgan Air sold for $20 million
Nicole McMullin
Jan 18, 2007
NEW 12:15 p.m.
Manassas-based Colgan Air Inc. has been sold for $20 million to Pinnacle Airlines Corporation, company board chairman Charles J. Colgan said this morning. Colgan is the state senator representing Manassas and parts of Prince William County.
Pinnacle Airlines Corporation is the parent company of Pinnacle Airlines Inc., headquartered in Memphis, Tenn. and employs about 3,500 people.
Colgan Air employs about 1,100 people and operates a fleet of 50 turbo prop aircraft.
The company is owned by the Colgan family and is the predecessor of Colgan Airways Corporation, founded in 1965 when Colgan and a group of investors organized a fixed base operation at Manassas Regional Airport.
In recent years Colgan Air has been acknowledged as one of the fastest growing regional airlines in the nation and the second largest operator of the SAAB 340 aircraft worldwide.
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