RavnAir files for bankruptcy, all 72 aircraft parked

RavnAir Group filed for Chapter 11 reorganization on April 5, 2020. All 72 aircraft are parked.

 

The airline issued this statement:

RavnAir Group on April 5 announced that due to the global COVID-19 pandemic and the unprecedented loss of 90% of passenger revenue at all three of its airlines (RavnAir Alaska, PenAir, and RavnAir Connect) it must, for the time being:

  • Park all seventy-two (72) of its aircraft;
  • Stop all operations; and
  • Temporarily lay off all remaining staff until the company is in a position to cover

    the costs of rehiring, resuming flights, and operating to the many communities it serves throughout our State.

    Because of the company’s critical need for additional funding, Ravn has also filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Ravn’s lenders have agreed to provide financing during the pendency of the Chapter 11.

    This filing will allow the company to “hit pause” and await word on its Federal CARES Act grant applications and other sources of financial assistance that will allow it to get through the Coronavirus crisis and successfully restart operations. The company is also actively seeking private investment as well.

    Ravn has been in contact with the CEOs of other air carriers around the State since last Thursday, April 2nd to help them establish new or replacement air service wherever possible, and it will continue those efforts during this uncertain period of time before the company can resume its own operations.

The CEO also issued this statement:

RE: Ensuring Our Future Together
To our valued Customers and Frequent Flyers,

As you know, the entire airline industry has been devastated by the COVID-19 pandemic and vitally necessary travel bans.

Unfortunately, RavnAir Group, the largest regional airline in our state, has been similarly affected by this crisis. It is for that reason that today we made the extremely difficult decision to ground all seventy-two (72) of our aircraft; stop all operations; temporarily lay-off all of our employees; and seek Chapter 11 protection in order to obtain immediate Debtor-in-Possession (DIP) funding.

We took these actions to ensure our airline has a future, and to give us time to “hit pause” while we seek federal CARES Act grants and other sources of financial assistance that will allow us to weather the Coronavirus pandemic and emerge successfully once it has passed.

How long we must wait is uncertain, but I want to assure you that everyone here at Ravn is doing everything possible to get back in the air very soon, so we can resume the vital air service you depend on to get home to your families, to your businesses, to medical appointments, and to other duties that are essential to our communities and the State of Alaska.

For those of you who were scheduled to fly this week or in the weeks ahead, please accept my deepest apologies for this sudden, but vitally necessary, decision to cancel all flights until further notice. With our call center now closed, I would request that you contact us through our website (www.flyravn.com) or by email at customerfeedback@ravnairgroup.com so we can gather your information and follow-up accordingly, once we have more news regarding your flight bookings.

I would also ask that you keep checking our website and your email for future updates regarding what’s next for Ravn, and when we expect to be able to restart our airline.

For now, I hope you, your families, and your loved ones all stay safe and healthy during these incredibly trying times.

With my best regards,

Dave Pflieger CEO

 

Ravn Alaska aircraft photo gallery:

Route Map: