Ravn owner makes bid for PenAir in bankruptcy court
PenAir already has a close relationship with Ravn Air -- both are neighbors at the Ted Stevens International Airport. They're about to get even closer.
J.F. Lehman is the parent company of Ravn Air Group, Inc. The New York City-based equity firm may soon be the new owner of PenAir. The attorney who oversees the sale for the trustee told KTVA, Leham submitted the winning bid for PenAir Wednesday during bankruptcy hearings in Anchorage.
PenAir went on the auction block this week, after the airline's owner filed Chapter 11 bankruptcy in August of last year. Danny Seybert claimed he had amassed $19 million in debt.
PenAir has 10 airplanes and flies eight routes. But some of those routes have become a bit turbulent.
PenAir reduced its flights to St. Paul Island from four to three times a week in the past month
Starting Oct. 15, Ravn will fly to McGrath three times a day from Anchorage, as it provides Essential Air Service, or EAS, PenAir used to provide. EAS is a federal program guaranteeing small communities maintain commercial service.
The sale of PenAir will not mean the end of the airline -- far from it. Both will continue to fly but as separate airlines.
PenAir employs more than 400 people and is Alaska's second largest regional airline carrier.
More than 1,000 people work for Ravn, which is the state's number one regional airline. Current rivals in the air, but about to become part of the same family.
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