The parent company of Alaska based Ravn Air has been given the nod to purchase the assets of troubled PenAir.
J.F. Lehman & Company’s bid for PenAir was green-lighted by a bankruptcy court.
That will ensure the continuation of ‘a substantial majority’ of PenAir jobs, and safeguard flight operations.
"We are thrilled with this outcome. It is a win for all parties—our Alaska customers and communities, as well as PenAir and Ravn employees alike," said Dave Pflieger, president and CEO of Ravn Air Group.
PenAir will continue to fly under its own name and use a separate FAA certificate as a new subsidiary of Ravn Air Group.
"It is a testament to the strength and fortitude of PenAir employees and the hard work and commitment of all Ravn Air Group team members that JFL was able to pursue the acquisition of such a storied airline, which, like Ravn, has a rich history of serving Alaska," Pflieger added.
Anchorage based Ravn has a workforce of about 1,000 and a fleet size of 70 aircraft.
It operates about 400 flights a day from several hubs including Anchorage, Fairbanks, Nome, Kotzebue, Barrow, and Galena.
