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Ravn Air Group Successfully Sells RavnAir Alaska and PenAir

Jul 9, 2020 | Monitor, Transportation

Approval for the sale of all twelve lots of Ravn Air Group assets was granted today at the final Bankruptcy Court hearing—including, in a last-minute turn of events, Ravn Air Group’s two Anchorage-based Part 121 passenger air carriers, RavnAir Alaska and PenAir, which were sold as a “going concern” along with many of the assets of these two companies. The successful bidder of RavnAir Alaska and PenAir was FLOAT Shuttle, a Los Angeles–based air commuter service.

“We are extremely excited about today’s outcome,” says Dave Pflieger, Ravn’s president and CEO. “While it is truly unfortunate that we can’t restart our RavnAir Connect Part 135 airline, we are hopeful that the Alaska-based buyers of those assets will hire many of our former employees; and we are thrilled to hear that the FLOAT shuttle team intends to rehire as many of our remaining employees as possible and quickly resume flights to the many vital communities Ravn serves throughout our great state.”

Pflieger continued: “We would personally like to thank all of our employees, our customers, our many business partners, our special restructuring committee, our advisors and attorneys, our lenders, and our creditors committee, as well as Senator Lisa Murkowski, Congressman Don Young, and especially Senator Dan Sullivan for their incredible efforts and support getting us to today’s outcome—this was a fantastic result for all, despite overwhelming odds.”

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