Approval for the sale of all 12 lots of Ravn Air Group assets was granted today at the final Bankruptcy Court hearing – including, in a last minute turn of events, Ravn Air Group’s two Anchorage- based Part 121 passenger air carriers (“RavnAir Alaska” and “PenAir”) which were sold as a “going concern” along with many of the assets of these two companies. The successful bidder of RavnAir Alaska and PenAir was FLOAT Shuttle, a Los Angeles–based air commuter service.
“We are extremely excited about today’s outcome. While it is truly unfortunate that we can’t restart our RavnAir Connect Part 135 airline, we are hopeful that the Alaska-based buyers of those assets will hire many of our former employees; and we are thrilled to hear that the FLOAT shuttle team intends to rehire as many of our remaining employees as possible and quickly resume flights to the many vital communities Ravn serves throughout our great state,” said Dave Pflieger, Ravn’s President & CEO.
“We would personally like to thank all of our employees, our customers, our many business partners, our special restructuring committee, our advisors & attorneys, our lenders, and our creditors committee, as well as Senator Lisa Murkowski, Congressman Don Young, and especially Senator Dan Sullivan for their incredible efforts and support getting us to today’s outcome — this was a fantastic result for all, despite overwhelming odds,” said Pflieger.
About Ravn Air Group
Before it filed for Chapter 11 protection on April 5, 2020, following a 90% drop in bookings and revenue due to COVID-19, Ravn was Alaska’s largest and most vital regional air carrier. The company and its three separate airlines were supported by over 1,300 employees, and it carried passenger, mail, freight, and charter customers to more than 115 destinations throughout Alaska.
Headquartered in Anchorage, Ravn Air Group operated a safe and highly reliable fleet of 72 aircraft on more than 400 flights per day, annually carrying over 750,000 passengers per year, from hubs and communities including Anchorage, Fairbanks, Galena, Deadhorse/Prudhoe Bay, Barrow, Nome, Kotzebue, Unalakleet, Bethel, Aniak,St. Mary’s, McGrath, Dillingham, King Salmon, Saint Paul, Sand Point, Cold Bay, Dutch Harbor, Kodiak, Kenai, Homer and Valdez.
Ravn Air Group’s two Part 121 air carriers (RavnAir Alaska and PenAir) are both FAA-approved Safety Management System (“SMS”) airlines. In addition, in May 2018 and again in April 2020, RavnAir Alaska became one of a few regional airlines in the U.S. to pass the challenging International Air Transportation Association’s (IATA) Safety and Operational Audit (IOSA), and in 2019 RavnAir Alaska, with its fleet of highly reliable 29 and 37 seat DHC-8 (“Dash 8”) aircraft became the first and only IOSA-approved Part 121 regional airline in the State of Alaska.