Ravn Air Group Auction Adjourned Without a Sale of its Two Part 121 Airlines (RavnAir Alaska and PenAir)

The auction today for Ravn Air Group’s two Anchorage-based Part 121 passenger air carriers (“RavnAir Alaska” and “PenAir”) was adjourned without a sale after Ravn’s secured creditors (the Lenders) and Unsecured Creditors Committee determined that bids received were not high enough to be acceptable. As a result, the Company will only seek approval at tomorrow’s […]

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Ravn Air Group Approved To Receive $31.6 million in CARES Act Payroll Support Program (PSP) Grants

Ravn Air Group announced today that it has been approved by the U.S. Treasury to receive $31.6 million in airline support payroll grants under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Payroll Support Program (PSP) subject to Bankruptcy Court approval, which would be available to Treasury-approved bidders seeking to buy the entire […]

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