Ravn Air Group Auction Scheduled for Tuesday, July 7th

Ravn Air Group and its secured creditors (i.e. its Banks/Lenders) have now notified all eligible bidders about the terms and minimum bids required for the upcoming auction to purchase assets associated with the company and its three airlines.

The auction will offer bidders the opportunity to buy the entire company or certain lots of its assets in a sale that the company will ask the Bankruptcy Court to approve at a hearing on July 9th. Thirty bidders have expressed interest in buying some or all of the Air Group’s assets.

The auction will be held on Tuesday, July 7th in accordance with established bid procedures. Bidders who have been notified by Ravn that they are qualified bidders may attend and participate in the auction. If they intend to participate, they must state their intent to do so by 10 a.m. local time (2 p.m. EDT) on Sunday, July 5th.

“We have had calls with a number of key bidders this week to explain the process, as well as expected pricing, and everyone is looking forward to July 7th,” said Dave Pflieger, Ravn’s President & CEO.


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 the arrival of COVID-19 in Alaska, and a resultant state-mandated travel ban to slow the spread of the Pandemic, 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, Barrow, Nome, Kotzebue, Unalakleet, Bethel, Aniak, St. Mary’s, McGrath, Dillingham, and King Salmon. In late 2018, Ravn acquired Peninsula Airways and its five Saab 2000s as part of a sale process that ended PenAir’s two-year financial bankruptcy and added the company to the Ravn Air Group portfolio. Later, in 2019, Ravn Air Group started Essential Air Service flying to St. Paul in the Pribilof Islands with its highly reliable 29 & 37 seat DHC-8 (Dash 8) aircraft.

Ravn Air Group’s two Part 121 air carriers are 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 became the first and only IOSA-approved Part 121 regional airline in the State of Alaska.