Opportunity to Save Ravn Air Group Has Attracted Multiple Bidders

Ravn Air Group and its secured creditors (i.e. its banks and/or 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 9.

Ravn received expressed interest in bidding for all, or substantially all, of Ravn Air Group’s three airlines and their assets. And almost thirty bidders from inside and outside Alaska made diverse offers ranging from acquiring Ravn and all three of its airlines in their entirety, to those interested in purchasing significant portions of the company and others interested in buying individual aircraft and airport buildings. The US Bankruptcy Court met to hear from attorneys representing Ravn, its lenders, and its unsecured creditors to address, among other things, the sale and auction process.

The auction will be held on Tuesday, July 7 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 (2p.m. EDT) on Sunday, July 5.