* On May 27, 2020, the Honorable Brendan L. Shannon in the United States Bankruptcy Court for the District of Delaware approved a motion, that, among other things and in addition to a proposed liquidation, enables Ravn Air Group, Inc. to establish proposed bidding procedures that Ravn will use to sell all, substantially all, or a substantial part of its assets. The requirements to become qualified as a bidder and get access to diligence materials, and for submitting a qualified bid, as well as other information about the bidding procedures, can be found in the motion, which may be obtained at Docket Number 197, Case No. 20-10755, through the website of Ravn’s claims and noticing agent at www.cases.stretto.com/ravnair. Ravn will consider bids for both the airline as a going concern and for portions of its assets in one or more lots.
Sales are subject to approval by the Bankruptcy Court.
** Company facts and statistics are as of April 4, 2020, before Ravn’s COVID-19 shutdown and Chapter 11 filing. If Ravn is successful in finding a buyer, it intends to resume operations later this summer.
*** IOSA is the International Air Transportation Association’s (IATA) Safety and Operational Audit. Safety audits were conducted May 2018 and March 2020.