RAVN

Laura Kraegel/KUCB

 RavnAir Group’s two regional airlines will continue flying in Alaska after a Southern California commuter service struck a last-minute deal to buy their operating certificates out of bankruptcy, outbidding a group of veteran Alaska transportation executives.

Laura Kraegel/KUCB

A Southern California commuter flight service, Float Shuttle, is set to take over the large planes and regional service once operated by RavnAir Group, which declared bankruptcy amid the COVID-19 pandemic.

Laura Kraegel/KUCB

Alaska's largest rural air carrier, the bankrupt RavnAir Group, aborted a planned auction Wednesday for its remaining core assets, casting doubt over the fate of the company's 1,300 employees and the future of flight service to the array of communities it once served.

Laura Kraegel/KUCB

RavnAir Group says it's received nearly 30 bids to buy the airline, or pieces of it, out of bankruptcy, its attorney said at a Thursday court hearing.

Five bidders are interested in buying the company intact, as a "going concern," Ravn attorney Tobias Keller said at the hearing in Delaware federal bankruptcy court. There were also nearly a dozen offers to buy "substantial assets" from Ravn — not the whole business, but more than $1 million, Keller said.

Other bids were for a single plane or a particular lease, he added.

Laura Kraegel/KUCB

Alaska’s largest rural airline is $90 million in debt and could be forced to sell its assets and shut down permanently, putting rural travel and supply lines in peril unless the government or new investors come to the aid of the bankrupt company, according to documents filed in federal court.

As the coronavirus pandemic batters the aviation industry, the teetering RavnAir Group may have obtained a $12 million loan that leaves “some hope that there may still be a rescue,” Tobias Keller, a Ravn attorney, said Tuesday at a bankruptcy hearing in Delaware.

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