Pinnacle Airlines

A funny thing happened
During a stock-screening mine.
Up popped an investing no-no,
The stock of an airline.

At 5x earnings,
What was the risk?
A few years of profits and
Up and away, the stock would surely wisk.

And there was an added bonus
In the form of contracts cost-plus.
Empty planes, higher fuel mattered not.
Their partners could not fuss.

But there was the rub.
Their partners, I say.
All would be well
Provided they avoided BK.

Northwest proved to be too sick,
Too fragile to make it through,
And declared the chapter,
Down with it went PNCL too.

We were not bold,
And sold at the bid.
Wash it out was the thinking.
On our losses put a lid.

Now, several years after,
Pinnacle is back on the screen.
A new contract with a stronger Northwest,
In our portfolios the PNCL may yet again be seen...