Subject to Bankruptcy Court approval, the funds would be available to Treasury-approved bidders seeking to buy the entire air group in an upcoming Chapter 11 sale process.
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.
Along with facilitating shipments for a variety of industries, Arctic On-Demand will also provide a COVID-19 regulation-compliant solution to passengers.
The Ravn Air Group is launching a “new” PenAir, following the acquisition of PenAir’s assets by investment affiliates of J.F. Lehman & Company for $12.3 million.
Employees of Alaska Air Group companies Alaska Airlines and Horizon Air are receiving $120 million in incentive bonuses today. For most employees, this equates to more than 6.5 percent of their annual pay in 2018.
One of the state’s major aviation success stories, Alaska Airlines, acquired Virgin America and, in January, received its single operating certificate from the FAA.