Ravn Air Group has been approved by Honorable Brendan L. Shannon in the United States Bankruptcy Court for the District of Delaware, to move forward with their proposed bidding process for the airline to sell all, substantially all, or a substantial part of its assets.
“This Court decision helps clear the path for Ravn to find new ownership that will allow us to resume operations later this summer. This is great news for our creditors, our employees who have been temporarily laid off, our customers, our important fishing industry, and the 115 rural and urban communities we serve throughout the state who are currently suffering from a lack of service since we parked our seventy-two aircraft,” said Dave Pflieger, Ravn’s President & CEO.
“The fishing industry, one of Alaska’s biggest sources of revenue and employment, has found it extremely challenging to work around Ravn’s grounding. Ravn has been a great partner of the fishing industry for many years in Alaska, and we are very hopeful for their return,” said Tom Enlow, President of UniSea, Inc.
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 this 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 March 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). As a result of these successful audits, RavnAir Alaska is the first and only IOSA-approved Part 121 regional airline in the State of Alaska.